Huron Announces Ekta Singh-Bushell Will Step Down From its Board of Directors at the Completion of Her Current Term Mar 20, 2026 1:14 PM Eastern Daylight Time Huron Announces Ekta Singh-Bushell Will Step Down From its Board of Directors at the Completion of Her Current Term Share CHICAGO--(BUSINESS WIRE)--On March 20, 2026, Ekta Singh-Bushell, a director of Huron Consulting Group Inc. (the "Company") since 2019, notified the Company of her decision to step down from the Board of Directors ("Board†) follow ...

Huron Consulting Group Inc. Investor Presentation March 2026 © 2026 Huron Consulting Group Inc. and affiliates. HURON | 2 Forward-Looking Statements Statements in this presentation that are not historical in nature, including those concerning the company's current expectations about its future results, are "forward-looking" statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identifi ...

Core Viewpoint - Huron Consulting (HURN) has experienced a significant decline of 21.2% in its stock price over the past four weeks, but the formation of a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging to counteract selling pressure [1][2]. Technical Analysis - The hammer chart pattern indicates a minor difference between opening and closing prices, with a long lower wick, suggesting that the stock may have found support during a downtrend [4]. - This pattern typically forms when bears have control, but a subsequent buying interest can signal a potential reversal in the trend [5]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for HURN, with a 0.4% increase in the consensus EPS estimate for the current year, indicating that analysts expect better earnings than previously predicted [7][8]. - HURN holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which historically indicates strong performance potential [9][10].

Core Insights - Huron Consulting (HURN) reported quarterly earnings of $2.17 per share, exceeding the Zacks Consensus Estimate of $1.94 per share, and showing an increase from $1.90 per share a year ago, resulting in an earnings surprise of +11.86% [1] - The company posted revenues of $432.28 million for the quarter ended December 2025, slightly missing the Zacks Consensus Estimate by 0.15%, but up from $388.42 million year-over-year [2] - Huron Consulting has surpassed consensus EPS estimates in all four of the last quarters, while it has topped revenue estimates twice during the same period [2] Earnings Outlook - The future performance of Huron Consulting's stock will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current consensus EPS estimate for the upcoming quarter is $1.78, with expected revenues of $439.71 million, and for the current fiscal year, the EPS estimate is $8.73 on revenues of $1.82 billion [7] Industry Context - The Consulting Services industry, to which Huron Consulting belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Huron Consulting's stock performance [5]

Financial Data and Key Metrics Changes - Revenues before reimbursable expenses (RBR) grew 11% in Q4 2025, reaching $432.3 million, compared to $388.4 million in Q4 2024 [33] - Full year RBR for 2025 was $1.66 billion, up 11.9% from $1.49 billion in 2024, marking the fifth consecutive year of growth [34] - Adjusted diluted earnings per share grew 21% in 2025, reaching a record $7.83 per share [39] - Adjusted EBITDA margin improved to 15.7% in Q4 2025, compared to 14.6% in Q4 2024, and for the full year, it was 14.3%, up from 13.5% in 2024 [38] Business Line Data and Key Metrics Changes - Healthcare segment RBR grew 10.7% in 2025, reaching a record $837.5 million, driven by strong demand for various services [41] - Education segment RBR was flat in Q4 2025 but grew 5.5% for the full year to $500.2 million, supported by strong demand for strategy and digital offerings [44] - Commercial segment RBR increased 36.6% in Q4 2025, reaching $91.9 million, and grew 27.2% for the full year to $325.1 million [47] Market Data and Key Metrics Changes - The healthcare segment accounted for 51% of total company RBR in Q4 2025, while education and commercial segments accounted for 28% and 21%, respectively [39] - The commercial segment saw a 20%+ increase in bookings in the second half of 2025 compared to the same period in 2024, indicating strong market demand [16] Company Strategy and Development Direction - The company is focused on sustaining strong growth in healthcare and education, which are its largest industries, while also expanding into adjacent markets [5] - The acquisition of AXIOM Systems' consulting services division aims to enhance payer-focused digital offerings and improve operational performance for clients [10] - The company is committed to achieving 15%-17% adjusted EBITDA margins by 2029, leveraging AI and automation for productivity gains [24] Management's Comments on Operating Environment and Future Outlook - Management noted that health systems are under pressure from reimbursement challenges and increasing operating costs, which drives demand for integrated solutions [8] - The company expects low double-digit percentage RBR growth in healthcare and mid-single-digit growth in education for 2026, with strong backlog coverage [58] - The pipeline remains at near-record levels, reflecting confidence in achieving growth targets for 2026 [58] Other Important Information - The company repurchased approximately 1.2 million shares in 2025, representing 6.6% of outstanding shares, and has an additional $200 million authorized for share repurchases [53][54] - 67% of total company RBR in 2025 was derived from outcomes-based, fixed-fee, and recurring revenue models, an increase from 50% in 2022 [28][29] Q&A Session Summary Question: Can you elaborate on the strong performance in the commercial segment? - Management confirmed a strong quarter for the commercial team, particularly in distressed financial advisory, with no significant one-time items affecting results [64][65] Question: Regarding guidance, is there more flexibility due to strong backlog coverage? - Management indicated that while there is confidence from strong backlog and bookings, the guidance approach remains cautious as they need to execute throughout the year [66][68] Question: Can you quantify the impact of AI on current projects? - Management noted that a significant portion of projects now incorporate AI, with estimates suggesting that around 50% of projects have a high or moderate AI component, up from 25% last year [70][72]

Financial Data and Key Metrics Changes - Revenues before reimbursable expenses (RVR) grew 11% in Q4 2025, achieving record RVR in healthcare and commercial segments [3] - Full year RVR increased by 12% over 2024, marking the fifth consecutive year of growth [3] - Adjusted diluted earnings per share grew 21% in 2025 compared to 2024, reaching record levels [4] - Adjusted EBITDA margins reached 15.7% in Q4 2025, reflecting continued margin expansion [3][38] - Full year adjusted EBITDA was $237.5 million, or 14.3% of RBR, compared to 13.5% in 2024 [38] Business Line Data and Key Metrics Changes - **Healthcare Segment**: - RVR grew 10% in Q4 2025, with a full year increase of 11% to $838 million [6][7] - Organic growth for the healthcare segment was 8%, excluding acquisitions [6] - **Education Segment**: - RVR was flat in Q4 2025 compared to Q4 2024, but grew 5% for the full year [11] - Strong demand for strategy and operations, research, and digital offerings contributed to the annual growth [11][44] - **Commercial Segment**: - RVR grew 37% in Q4 2025, with a full year increase of 27% to $325 million [15][47] - Organic growth in Q4 2025 was 9% excluding acquisitions [15] Market Data and Key Metrics Changes - The healthcare segment accounted for 51% of total company RBR in Q4 2025 [39] - The education segment generated 28% of total company RBR in Q4 2025 [43] - The commercial segment represented 21% of total company RBR in Q4 2025 [46] Company Strategy and Development Direction - The company focuses on sustaining strong growth in healthcare and education, which are its largest industries [5] - Strategic acquisitions, such as the consulting services division of Axiom Systems, aim to enhance payer-focused digital offerings [10] - The company is committed to advancing its integrated digital platform, with digital capability RBR growing 10% in 2025 [18][20] Management's Comments on Operating Environment and Future Outlook - Management noted that health systems are under pressure from increased operating costs and reimbursement challenges, driving demand for integrated solutions [8][9] - The company expects strong growth momentum to continue into 2026, with a robust backlog and pipeline [4][23] - Guidance for 2026 includes RBR of $1.78 billion to $1.86 billion, reflecting 9.5% growth at the midpoint [55] Other Important Information - The company achieved a net income of $105 million for the full year 2025, down from $116.6 million in 2024 [36] - Free cash flow for 2025 was $162.3 million, with cash flow from operations at $193.4 million [51] - The company repurchased approximately 1.2 million shares in 2025, representing 6.6% of outstanding shares [53] Q&A Session Summary Question: Insights on commercial revenue growth - The commercial segment had a strong quarter, particularly in distressed financial advisory, with no significant one-time items affecting results [63][64] Question: Guidance conservatism - Management indicated that the guidance reflects a cautious approach typical for the beginning of the year, despite strong backlog coverage [65][66] Question: AI project quantification - Approximately 50% of projects now incorporate AI, up from about 25% last year, indicating a significant shift in project delivery [68][70]

Financial Data and Key Metrics Changes - Revenues before reimbursable expenses (RVR) grew 11% in Q4 2025, achieving record RVR driven by healthcare and commercial segments [3][32] - Full year RVR increased by 12% over 2024, marking the fifth consecutive year of growth [3][33] - Adjusted diluted earnings per share grew 21% in 2025 compared to 2024, reaching a record level [4][38] - Adjusted EBITDA margins reached 15.7% in Q4 2025, reflecting a continuous margin expansion trend [3][37] Business Line Data and Key Metrics Changes - **Healthcare Segment**: RVR grew 10% year-over-year in Q4 2025, with full year RVR reaching $838 million, an 11% increase over 2024 [6][40] - **Education Segment**: RVR was flat in Q4 2025 compared to Q4 2024, but grew 5% for the full year, driven by strong demand for strategy and digital offerings [11][43] - **Commercial Segment**: RVR surged 37% in Q4 2025, with full year RVR increasing 27% to a record $325 million [14][45] Market Data and Key Metrics Changes - The healthcare industry is experiencing uneven financial performance, with health systems focusing on financial health transformation offerings [7][8] - The education sector is facing significant pressures, leading institutions to reassess their business models amidst regulatory changes [12][13] - The commercial segment is navigating complexities due to regulatory changes and cost pressures, driving demand for integrated solutions [15][16] Company Strategy and Development Direction - The company is committed to sustaining strong growth in healthcare and education, leveraging its market position [5] - Strategic acquisitions, such as the consulting services division of Axiom Systems, are aimed at expanding payer-focused digital offerings [10] - The company is focused on advancing its integrated digital platform, with digital capability RBR growing 10% in 2025 [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong backlog and pipeline for 2026, indicating a positive outlook for revenue growth [4][22] - The company anticipates continued demand for AI and automation solutions, which are seen as key drivers for future growth [9][25] - Management expects adjusted EBITDA margins to improve further, aiming for 15%-17% by 2029 [23] Other Important Information - The company repurchased approximately 1.2 million shares in 2025, representing 6.6% of outstanding shares [51] - The effective tax rate for 2025 was 22.2%, which is favorable compared to the statutory rate [36] Q&A Session Summary Question: Insights on commercial revenue growth - Management confirmed strong performance in the commercial segment, particularly in distressed financial advisory, with no significant one-time items affecting results [61][62] Question: Guidance conservatism and backlog coverage - Management clarified that the guidance approach remains cautious, reflecting the need to execute throughout the year, despite strong backlog coverage [64][66] Question: AI project quantification and impact - Management noted that a significant portion of projects now incorporate AI, with approximately 50% of projects having a high or moderate AI component, indicating a shift in project dynamics [67][69]

FEBRUARY 24, 2026 © 2026 Huron Consulting Group Inc. and affiliates. Forward-looking Statements FY 2026 Outlook & AI: The Opportunity for Huron Q4 2025 Earnings Supplemental Materials February 24, 2026 Statements in this presentation that are not historical in nature, including those concerning the company's current expectations about its future results, are "forward-looking" statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform ...

Talent and Management - The company has increased its full-time professionals from 249 in 2002 to approximately 8,610 as of December 31, 2025[61]. - The company relies heavily on its senior management team and managing directors for revenue generation and client relationships, making retention critical for future success[56]. - The company faces significant competition for talent, which could increase labor costs and negatively affect margins and results of operations[57]. Business Operations and Strategy - The company has made changes to its operating model effective January 1, 2022, to strengthen its go-to-market strategy and support growth[73]. - A significant portion of the company's revenue is derived from clients in the healthcare and education industries, which are highly regulated and subject to changing political and legislative influences[74]. - The company operates internationally, including in India, which presents additional risks such as regulatory compliance and potential civil unrest[62][65]. - The company may incur costs to support its business growth, and failure to build an effective support structure could adversely impact profitability[61]. - The company must manage organizational challenges associated with growth to achieve its business objectives[58]. Financial Performance and Risks - The company’s profitability is heavily dependent on the utilization and billing rates of its professionals, which can be affected by various factors including client engagement size and economic conditions[111]. - The company’s financial guidance is based on assumptions that may not always prove accurate, and failing to meet this guidance could adversely affect the market value of its common stock[120]. - The company’s performance-based engagements make revenue recognition difficult to predict, leading to potential volatility in financial results[116]. - The company has outstanding indebtedness of $511.0 million, with $121.0 million under a revolving credit facility and $390.0 million under a term loan, both maturing on July 30, 2030[123]. - The company carries professional liability insurance, but the policy limits may be inadequate to cover all claims, potentially exposing the company to significant legal liabilities[105]. Market and Competitive Environment - The company faces intense competition in the consulting services industry, with many competitors having greater resources and market presence, which could adversely affect financial results[89]. - A large portion of client contracts are short-term, typically 12 months or less, which can lead to unpredictable operating results and revenue fluctuations[82][83]. - The company’s ability to attract new business is heavily reliant on its reputation and the quality of its services, with any damage to this reputation potentially hindering future engagements[88]. Technology and Innovation - The company’s financial results are significantly influenced by its ability to adapt to rapid technological changes and client demands, particularly in digital and AI-based services[80]. - The company is increasingly dependent on information technology, requiring ongoing investments to meet client demands and maintain service quality[90]. - The integration of AI technologies presents both opportunities and risks, including potential reputational harm and legal liabilities if privacy or security incidents occur[95][96][97]. - The company’s growth strategy emphasizes innovation and expansion into new areas, necessitating significant investments in technology and AI to remain competitive[81]. - Delays in client spending due to technological evaluations can negatively impact revenue generation and operational results[80]. Regulatory and Compliance Risks - Regulatory changes in the healthcare and education sectors could reduce demand for the company's services and require unplanned modifications to service offerings[76]. - The company faces risks related to currency fluctuations, particularly between the U.S. dollar and Indian rupee, which could adversely affect results of operations[70]. - Changes in U.S. and foreign tax laws could materially affect the company's tax expense and profitability, with ongoing monitoring of regulatory developments[137][139]. - The company may face increased litigation and regulatory risks as it expands into new service offerings beyond its core services[106]. Financial Instruments and Investments - The company has outstanding borrowings of $511.0 million under the Amended Credit Agreement with a weighted average interest rate of 5.3% as of December 31, 2025[285]. - A hypothetical 100 basis point change in interest rates would impact pretax income by $2.6 million annually, considering the effects of interest rate swaps[285]. - The company has entered into forward interest rate swap agreements with an aggregate notional amount of $250.0 million, maturing through February 28, 2030[287]. - As of December 31, 2025, the company has foreign currency forward contracts with a notional amount of INR 1.47 billion ($16.3 million) and $25.0 million in Canadian Dollar contracts[289][290]. - The investment in Shorelight Holdings, LLC has incurred a credit-related impairment charge of $10.4 million in 2025, resulting in a fair value of $34.1 million, down from a cost basis of $40.9 million[130]. - The preferred stock investment in a hospital-at-home company has a fair value of $2.4 million as of December 31, 2025, reflecting a total impairment charge of $5.0 million due to observable price changes from a merger[131]. - The fair value of the investment in Shorelight decreased from $62.3 million in 2024 to $34.1 million in 2025 due to reduced projected cash flows[292]. - The carrying value of the hospital-at-home investment decreased from $7.4 million in 2024 to $2.4 million in 2025, following non-cash impairment charges totaling $5.0 million[293].

Financial Performance - Revenues before reimbursable expenses increased by $43.9 million, or 11.3%, to $432.3 million in Q4 2025 from $388.4 million in Q4 2024[3] - Net income for Q4 2025 was $30.7 million, compared to $34.0 million in Q4 2024, reflecting a decrease due to contingent consideration remeasurement charges[3] - Adjusted EBITDA increased by $11.2 million, or 19.7%, to $68.0 million in Q4 2025 from $56.8 million in Q4 2024[3] - Full year revenues before reimbursable expenses reached a record $1.66 billion for 2025, an increase of $176.8 million, or 11.9%, from $1.49 billion in 2024[13] - Total revenues for the twelve months ended December 31, 2025, were $1.699 billion, up from $1.522 billion in 2024, reflecting a year-over-year growth of 11.6%[25] - Net income for the twelve months ended December 31, 2025, was $105,040, down from $116,626 in 2024, representing a decrease of 9.1%[29] - Operating income for the total company for the twelve months ended December 31, 2025, was $178,570, a 5.8% increase from $168,819 in 2024[31] - Total revenues for Q4 2025 reached $441.963 million, a 10.7% increase from $399.314 million in Q4 2024[35] Earnings and Shareholder Returns - Adjusted diluted earnings per share increased by $1.36, or 21.0%, to $7.83 for 2025 from $6.47 for 2024[16] - Adjusted diluted earnings per share for the twelve months ended December 31, 2025, were $7.83, compared to $6.47 in 2024[37] - Huron returned $166.2 million to shareholders through share repurchases, representing 6.6% of the company's common stock outstanding as of December 31, 2024[4] - Huron's board authorized an increase in the share repurchase program from $700 million to $900 million[10] - Adjusted diluted earnings per share guidance for 2026 is projected to be in the range of $8.35 to $9.15[18] Revenue Growth and Segmentation - The number of revenue-generating professionals increased by 13.1% to 5,307 as of December 31, 2025, driven by acquisitions and hiring[12] - Healthcare segment revenues before reimbursable expenses reached $837,537, a 10.7% increase from $756,263 in 2024[31] - Commercial segment revenues before reimbursable expenses surged by 27.2% to $325,125 from $255,601 in 2024[31] - The number of revenue-generating professionals in the Healthcare segment increased by 22.6% to 1,493 from 1,218 in 2024[31] - Total number of revenue-generating professionals increased by 21.2% to 7,546 from 6,224 in 2024[31] Future Guidance - The company expects 2026 revenues in the range of $1.78 billion to $1.86 billion[10] - The company provided guidance for full year 2026 revenues before reimbursable expenses in a range of $1.78 billion to $1.86 billion[18] - Adjusted EBITDA is anticipated to be between 14.5% to 15.0% of revenues before reimbursable expenses for 2026[18] Cash Flow and Investments - Cash flows from operating activities for the twelve months ended December 31, 2025, totaled $193,394, compared to $201,319 in 2024[29] - Net cash used in investing activities increased to $145,751 from $79,749 in 2024, primarily due to purchases of businesses[29] Other Financial Metrics - Total assets increased to $1.527 billion as of December 31, 2025, from $1.344 billion as of December 31, 2024, marking a growth of 13.6%[27] - Long-term debt, net of current portion, rose to $489.67 million as of December 31, 2025, compared to $342.86 million in 2024, an increase of 42.8%[27] - The company emphasized the importance of non-GAAP financial measures for evaluating its performance and outlook, which include adjusted EBITDA and adjusted diluted earnings per share[20] - The company incurred restructuring charges of $3.717 million in Q4 2025, compared to $2.383 million in Q4 2024[37] - Unrealized losses on long-term investments for the twelve months ended December 31, 2025, amounted to $15.396 million[37]