Exponent sees FY23 ‘before reimbursements’ revenue to grow high single digits

“As we look to close out 2023, we are encouraged by the broad-based demand we are seeing across the majority of the business. The combined effects of product lifecycle timing and ongoing macroeconomic headwinds continue to create softness in the consumer electronics sector, and therefore we are refining our full year outlook,” commented Richard Schlenker, Executive Vice President and Chief Financial Officer. “Given the dynamic landscape in which we operate, I am pleased with our progress in aligning resources with the demand trends we are seeing across the business. We will continue to strategically manage our resources while positioning Exponent for long-term success.”For the fourth quarter of 2023 as compared to the same period one year prior, Exponent anticipates:Revenues before reimbursements to grow in the mid-single digits; and, EBITDA to be 26% to 27% of revenues before reimbursements. For the full fiscal year 2023 as compared to the same period one year prior, Exponent anticipates: Revenues before reimbursements to grow in the high-single digits; and, EBITDA to be 27.4% to 27.8% of revenues before reimbursements.