Exponent, Inc. (NASDAQ:EXPO) Q3 2024 Earnings Conference Call October 24, 2024 4:30 PM ET

Company Participants

Joni Konstantelos - Managing Director of Riveron Consulting
Catherine Corrigan - President and Chief Executive Officer
Rich Schlenker - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jasper Bibb - Truist Securities, Inc.
Andrew Nicholas - William Blair & Company L.L.C.
Joshua Chan - UBS Investment Bank

Operator

Good afternoon, everyone, and welcome to the Exponent, Inc. Q3 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation there will be an opportunity to ask questions. [Operator Instructions] Please also note, today's event is being recorded.

At this time, I'd like to turn the floor over to Joni Konstantelos, Managing Director with Riveron. Please go ahead.

Joni Konstantelos

Thank you. Good afternoon, ladies and gentlemen. Thank you for joining Exponent's third 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 www.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'd 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 third 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.

We are pleased with the alignment of our operating model with market demand, which drove 6% net income growth and expanded EBITDA margin in the third quarter. This marks the third consecutive quarter of increased utilization year-over-year as we continue our commitment to efficient resource management. As expected, revenues before reimbursements were flat in the quarter.