Exponent, Inc. (NASDAQ: EXPO) shares surged 7.24% in extended trading on Thursday after the company reported strong fourth-quarter and fiscal year 2024 financial results that exceeded Wall Street expectations. The impressive performance, coupled with an increased dividend and an optimistic outlook for continued demand growth, fueled investor enthusiasm for the stock.
For the fourth quarter, Exponent posted revenue of $136.8 million, up 11.3% year-over-year, driven by solid demand across its proactive and reactive services. The company's earnings per share (EPS) for the quarter came in at $0.46, beating analyst estimates of $0.41 by a significant margin. Furthermore, Exponent announced a 7% increase in its quarterly cash dividend, raising it from $0.28 to $0.30 per share, reflecting its commitment to returning value to shareholders.
The company's full-year 2024 performance was equally impressive, with revenue growing 4.1% to $558.5 million and EPS reaching $2.11. Exponent attributed its success to strong demand across various industries, including consumer electronics, utilities, chemicals, and medical devices. The company's focus on aligning resources with demand, coupled with improved utilization and EBITDA margin, contributed to its profitability.
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