Exponent, Inc. reported its financial results for the third quarter of fiscal year 2024, ended September 27, 2024. Total revenues increased 2% to $136.3 million, while revenues before reimbursements were approximately flat at $125.1 million compared to $125.0 million in the third quarter of 2023.
Net income for the quarter increased 6% to $26.0 million, or $0.50 per diluted share, compared to $24.5 million, or $0.48 per diluted share, in the prior year period. EBITDA increased to $35.8 million, representing 28.6% of revenues before reimbursements, up from $34.5 million or 27.6% in the third quarter of 2023.
The engineering and other scientific segment saw a 1% increase in revenues before reimbursements, driven by consumer electronics and utilities. The environmental and health segment experienced a 6% decrease due to headwinds in the chemical and life sciences sectors. For the full fiscal year 2024, Exponent maintained its revenue guidance and raised its EBITDA margin guidance to 28.5% to 29.0%.
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