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Exponent Reports Second Quarter 2026 Financial Results

EXPO
  • Exponent Inc. reported second-quarter fiscal 2026 revenues of $171.6 million, a 21% increase year-over-year, with revenues before reimbursements reaching $148.9 million, up 12%.
  • Net income for the quarter rose to $29.4 million, or $0.60 per diluted share, compared to $26.6 million, or $0.52 per diluted share, in the same period last year.
  • EBITDA increased to $42.7 million, representing 28.7% of revenues before reimbursements, up from $37.0 million, or 27.8%, in the prior year quarter.
  • Year-to-date revenues before reimbursements grew 11% to $300.7 million, while net income reached $59.0 million, or $1.19 per diluted share.
  • The engineering & scientific segment accounted for 85% of revenues before reimbursements, driven by user research for AI-enabled products, utility infrastructure work, & reactive engagements in consumer products, chemicals, & transportation.
  • The environmental & health segment represented 15% of revenues before reimbursements, with growth driven by chemical impact evaluations on human health & the environment.
  • Exponent paid $31.3 million in dividends & repurchased $146.1 million of common stock during the first half of 2026, ending the period with $66.6 million in cash & cash equivalents.
  • The Board declared a quarterly cash dividend of $0.31 payable on September 18, 2026, & approved a $50 million increase to the stock repurchase program.
  • Fiscal Q3 2026 guidance anticipates revenues before reimbursements growth of 8% to 10% & EBITDA margins of 28.0% to 28.5%.
  • Full-year 2026 guidance has been raised to anticipate revenues before reimbursements growth of 9% to 10% & EBITDA margins of 27.8% to 28.1%.
  • CEO Dr. Catherine Corrigan attributed strong performance to demand for specialized expertise in AI product development, risk management, & complex infrastructure challenges.
  • CFO Eric Anderson noted a 74% utilization rate & highlighted $272 million returned to shareholders over the last twelve months through dividends & share repurchases.