Hackett Group's stock surged 5.95% in intraday trading on Wednesday, propelled by the company's impressive fourth-quarter 2024 earnings results and its promising expansion into the generative artificial intelligence (GenAI) space.
The consulting firm reported total revenue of $79.2 million for the quarter, surpassing analysts' expectations. Adjusted earnings per share (EPS) came in at $0.47, exceeding the company's guidance. The strong performance was driven by robust growth in the SAP solutions and GenAI segments.
Hackett Group's strategic acquisition of LeewayHertz, a GenAI solutions provider, boosted its capabilities in this rapidly evolving field. The company's AI XPLR platform and DeepSeek innovations position it as a frontrunner in offering end-to-end GenAI solutions to clients.
While the Oracle solutions segment experienced a 6% revenue decline due to project wind-downs, the company's overall momentum remains solid. Hackett Group also announced a 9% increase in its annual dividend, reflecting confidence in future cash flow generation.
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