Exponent, Inc. (NASDAQ:EXPO) Q1 2024 Earnings Conference Call April 25, 2024 4:30 PM ET

Company Participants

Joni Konstantelos - Investor Relations
Catherine Corrigan - President and Chief Executive Officer
Rich Schlenker - Executive Vice President and Chief Financial Officer

Conference Call Participants

Daniel Maxwell - William Blair
Josh Chan - UBS
Jack Wilson - Truist

Operator

Good afternoon and welcome to the Exponent, Inc. Quarter One 2024 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Joni Konstantelos. Please go ahead.

Joni Konstantelos

Thank you. Good afternoon, ladies and gentlemen. Thank you for joining us on Exponent’s first quarter 2024 financial results conference call. Please note that this call will be simultaneously webcast on the Investor Relations section of the company’s corporate website at investors.exponent.com. This conference call is the property of Exponent and any taping or other reproduction is expressly prohibited without prior written consent.

Joining me on the call today are Dr. Catherine Corrigan, President and Chief Executive Officer; and Rich Schlenker, Executive Vice President and Chief Financial Officer.

Before we start, I would like to remind you that the following discussion contains forward-looking statements, including, but not limited to, Exponent’s market opportunities and future financial results that involve risks and uncertainties that may cause actual results to differ materially from those discussed here. Additional information that could cause actual results to differ from forward-looking statements can be found in Exponent’s periodic SEC filings, including those factors discussed under the caption Risk Factor in Exponent’s most recent Form 10-Q. The forward-looking statements and risks in this conference call are based on current expectations as of today and Exponent assumes no obligation to update or revise them, whether as a result of new developments or otherwise.

And now, I will turn the call over to Dr. Catherine Corrigan, Chief Executive Officer. Catherine?

Catherine Corrigan

Thank you, Joni and thank you everyone for joining us today. I will start off by reviewing our first quarter 2024 business performance. Rich will then provide a more detailed review of our financial results and outlook, and we will then open the call for questions.

Exponent's unparalleled reputation and decades-long expertise in failure analysis drove better than expected results in the first quarter. Despite a slow start, our reactive business grew in the mid-teens, driven by robust failure analysis and dispute-related work, spanning a wide spectrum of industries. Partway through the quarter, we experienced accelerated activity across a number of substantial engagements, contributing to our strong results in the quarter.