CRA International reported record third-quarter results, significantly beating analyst estimates for both revenue and earnings per share. Growth was broad-based, with practices representing 95% of total revenue expanding year over year, led by a record performance in Antitrust & Competition Economics. Management raised its full-year 2026 revenue guidance to a range of $830 million to $840 million and increased its quarterly dividend by 17.5% to $0.67 per share.

Key Highlights

  • Revenue increased 15.6% year over year to $214.9 million, exceeding the consensus estimate of $199.04 million.
  • Consultant utilization improved to 78% from 77% in the prior-year period, even as total headcount grew 6.2% to 1,028 consultants.
  • Non-GAAP EPS reached $2.19, surpassing the $2.07 expectation, while GAAP net income rose 21.2% to $13.9 million.
  • Full-year 2026 revenue guidance was raised to $830M–$840M from the prior $805M–$820M, while the non-GAAP EBITDA margin range was narrowed to 12.2%–12.8%.