Exponent Inc. Q2 2024 Sales Hit $59.5M
Ticker: EXPO · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 851520
Sentiment: neutral
Topics: 10-Q, earnings, financials
TL;DR
Exponent Inc. Q2 sales $59.5M. Check financials.
AI Summary
Exponent Inc. filed its 10-Q for the period ending June 28, 2024. The company reported net sales of $59.5 million for the second quarter of 2024. Key financial data points include unbilled revenues and treasury stock information as of various dates in 2023 and 2024.
Why It Matters
This filing provides investors with the latest financial performance data for Exponent Inc., crucial for understanding the company's revenue generation and financial health.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments mentioned.
Key Numbers
- $59.5M — Net Sales (Reported for the second quarter of 2024)
- 2024-06-28 — Reporting Period End Date (The end date for the financial data presented in the 10-Q)
Key Players & Entities
- Exponent Inc. (company) — Filer of the 10-Q
- 20240628 (date) — End of reporting period
- $59.5 million (dollar_amount) — Net sales for Q2 2024
FAQ
What were Exponent Inc.'s net sales for the second quarter of 2024?
Exponent Inc. reported net sales of $59.5 million for the second quarter of 2024.
What is the reporting period for this 10-Q filing?
The conforming period of report is 20240628, meaning the filing covers the period ending June 28, 2024.
What is the company's fiscal year end?
Exponent Inc.'s fiscal year ends on December 29.
What is the SIC code for Exponent Inc.?
The Standard Industrial Classification code for Exponent Inc. is 8742, which falls under SERVICES-MANAGEMENT CONSULTING SERVICES.
When was Exponent Inc. formerly known as Failure Group Inc.?
Exponent Inc. was formerly known as Failure Group Inc. with a date of name change on 19930831.
Filing Stats: 4,514 words · 18 min read · ~15 pages · Grade level 19.2 · Accepted 2024-08-02 16:05:25
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share EXPO Nasdaq Global Select
Filing Documents
- expo-20240628.htm (10-Q) — 1899KB
- expo-ex31_1.htm (EX-31.1) — 12KB
- expo-ex31_2.htm (EX-31.2) — 12KB
- expo-ex32_1.htm (EX-32.1) — 6KB
- expo-ex32_2.htm (EX-32.2) — 6KB
- 0000950170-24-089943.txt ( ) — 6770KB
- expo-20240628.xsd (EX-101.SCH) — 731KB
- expo-20240628_htm.xml (XML) — 1314KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 3 Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited): 3 Condensed Consolidated Balance Sheets June 28, 2024 and December 29, 2023 3 Condensed Consolidated Statements of Income For the Three and Six Months Ended June 28, 2024 and June 30, 2023 4 Condensed Consolidated Statements of Comprehensive Income For the Three and Six Months Ended June 28, 2024 and June 30, 2023 5 Condensed Consolidated Statements of Stockholders' Equity For the Three and Six Months Ended June 28, 2024 and June 30, 2023 6 Condensed Consolidated Statements of Cash Flows For the Six Months Ended June 28, 2024 and June 30, 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.
Controls and Procedures
Controls and Procedures 29
– OTHER INFORMATION
PART II – OTHER INFORMATION 30 Item 1.
Legal Proceedings
Legal Proceedings 30 Item 1A.
Risk Factors
Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31
Signatures
Signatures 32 - 2 -
– FINANC IAL INFORMATION
PART I – FINANC IAL INFORMATION
Financ ial Statements
Item 1. Financ ial Statements EXPONENT, INC. Condensed Consolida ted Balance Sheets June 28, 2024 and December 29, 2023 (in thousands, except par value) June 28, 2024 (Unaudited) December 29, 2023 Assets Current assets: Cash and cash equivalents $ 203,262 $ 187,150 Accounts receivable, net of allowance for contract losses and doubtful accounts of $ 6,161 and $ 5,281 at June 28, 2024 and December 29, 2023, respectively 165,870 167,360 Prepaid expenses and other current assets 22,195 25,022 Total current assets 391,327 379,532 Property, equipment and leasehold improvements, net of accumulated depreciation and amortization of $ 108,647 and $ 104,011 at June 28, 2024 and December 29, 2023, respectively 73,025 75,318 Operating lease right-of-use assets 71,556 24,600 Goodwill 8,607 8,607 Deferred income taxes 51,560 53,824 Deferred compensation plan assets 106,295 101,169 Other assets 6,807 3,727 Total assets $ 709,177 $ 646,777 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued liabilities $ 22,418 $ 22,125 Accrued payroll and employee benefits 90,728 111,773 Deferred revenues 13,775 21,709 Operating lease liabilities 4,903 6,302 Total current liabilities 131,824 161,909 Other liabilities 5,159 3,426 Deferred compensation plan liabilities 108,588 103,398 Operating lease liabilities 70,393 21,959 Total liabilities 315,964 290,692 Stockholders' equity: Common stock, $ 0.001 par value; 120,000 shares authorized; 65,707 shares issued at June 28, 2024 and December 29, 2023 66 66 Additional paid-in capital 338,734 321,448 Accumulated other comprehensive loss Foreign currency translation adjustments ( 3,173 ) ( 2,977 ) Retained earnings 603,373 574,082 Treasury stock, at cost; 14,976 and 15,134 shares held at June 28, 2024 and December 29, 2023, respecti