Huron Consulting Group Inc. (NASDAQ:HURN) Q3 2024 Earnings Conference Call October 29, 2024 5:00 PM ET
Company Participants
Mark Hussey - CEO and President
John Kelly - CFO
Conference Call Participants
Andrew Nicholas - William Blair & Company
Jasper Bibb - Truist Securities
Bill Sutherland - The Benchmark Company
Kevin Steinke - Barrington Research Associates
Operator
Good afternoon and welcome to Huron Consulting Group's Webcast to discuss Financial Results for the Third Quarter 2024. At this time, all conference call lines are on a listen-only mode. Later, we will conduct a question-and-answer session for conference call participants and instructions will follow at that time. As a reminder, this conference call is being recorded.
Before we begin, I would like to point all of you to the disclosure at the end of the company's news release for information about any forward-looking statements that may be made or discussed on this call.
The news release is posted on Huron's website. Please review that information, along with the filings with the SEC for a disclosure of factors that may impact subjects discussed in this afternoon's webcast.
The company will be discussing one or more non-GAAP financial measures. Please look at the earnings release and on Huron's website for all of the disclosures required by the SEC, including reconciliations to the most comparable GAAP numbers.
And now I would like to turn the call over to Mark Hussey, Chief Executive Officer and President of Huron Consulting Group. Mr. Hussey, please go ahead.
Mark Hussey
Good afternoon and welcome to Huron Consulting Group's third quarter 2024 earnings call. With me today is John Kelly, our Chief Financial Officer. Revenue growth in the third quarter of 2024 was 3% over the prior year period, which reflected a difficult comparison against the exceptionally strong growth of 26% in Q3 of 2023 compared to Q3 of 2022.
We also saw the shifting of some project work from the third quarter to the fourth quarter of 2024. Despite these timing factors, our Healthcare and Education segments continued their long track record of consistent growth since the beginning of 2021, reflecting the fundamental challenges that continue to drive demand for our services in each of these industries.
Our Commercial segment also rebounded well, achieving 12% sequential growth in the third quarter over the second quarter of 2024.
While our revenue growth rate in the quarter was more modest than in recent quarters, we experienced a record sales quarter achieving a high quarterly bookings company-wide in our history. Strong sales conversion across all three operating segments in the third quarter positions us well to deliver on our annual revenue guidance.