Resources Connection, Inc. (NASDAQ:RGP) Q4 2023 Earnings Conference Call July 24, 2023 5:00 PM ET Company Participants Kate Duchene - CEO Tim Brackney - President and COO Jenn Ryu - CFO Conference Call Participants Marc Riddick - Sidoti Andre Childress - Baird Stephanie Yee - JPMorgan Operator Good afternoon, ladies and gentlemen, and welcome to the Resources Connection, Inc. Conference Call. Currently, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and inst ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q For the transition period from ______ to______ (Mark One) Commission File Number: 0-32113 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 RESOURCES CONNECTION, INC. For the quarterly period ended February 25, 2023 (Exact Name of Registrant as Specified in Its Charter) OR Delaware 33-0832424 (State or Other Jurisdiction of TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Resources Connection, Inc. (NASDAQ:RGP) Q3 2023 Earnings Conference Call April 4, 2023 5:00 PM ET Company Participants Kate Duchene - CEO Tim Brackney - President & COO Jenn Ryu - CFO Conference Call Participants Mark Marcon - Robert W. Baird Stephanie Yee - JPMorgan Marc Riddick - Sidoti Operator Good afternoon, ladies and gentlemen, and welcome to the Resources Connection, Inc. Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 26, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______ Commission File Number: 0-32113 RESOURCES CONNECTION, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 33-0832424 (State or O ...

Resources Connection, Inc. (NASDAQ:RGP) Q2 2023 Results Conference Call January 4, 2023 5:00 PM ET Company Participants Kate Duchene - CEO Tim Brackney - President and COO Jenn Ryu - CFO Conference Call Participants Andrew Steinerman - JPMorgan Chase Mark Marcon - Robert W. Baird Marc Riddick - Sidoti Operator Good afternoon, ladies and gentlemen, and welcome to the Resources Connection, Inc. Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-ans ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 27, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______ Commission File Number: 0-32113 RESOURCES CONNECTION, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 33-0832424 (State or Oth ...

Financial Data and Key Metrics Changes - Q1 revenue increased by 17% year-over-year, excluding the divested taskforce business [5][36] - Gross margin improved by 190 basis points to 40.9% [5][39] - Adjusted EBITDA margin rose by 280 basis points to 15% [5][37] - Key GAAP diluted EPS for the quarter was $0.53 per share [37] Business Line Data and Key Metrics Changes - Revenue from on-demand talent and project consulting both grew approximately 12% year-over-year [51] - Revenue growth was broad-based across all client segments, with strategic global accounts growing by 16% and regional accounts by 10% year-over-year [37] - Average billings increased to $130, a 3.2% improvement year-over-year [39] Market Data and Key Metrics Changes - North America and Asia Pacific saw revenue growth of 18% and 20% year-over-year, respectively [38] - The U.S. market experienced a slight decline of 1% due to summer vacations [38] - European performance showed some softness, but did not materially impact Q1 results [38] Company Strategy and Development Direction - The company is focused on technology modernization to support growth and operational efficiency, with a project expected to take 24 months [6][8] - The digital engagement platform HUGO is being expanded into California and Texas, aimed at attracting early-career finance and accounting talent [9] - A refreshed brand position and messaging strategy is being implemented to align with current workforce trends [10][12] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic despite macroeconomic uncertainties, noting continued opportunities for growth [16][24] - The company is adapting to a shift towards hybrid talent strategies among clients, emphasizing flexibility and agility [15][16] - Management highlighted the importance of executing critical projects as clients seek value in their partnerships [60] Other Important Information - The company repaid $34 million of outstanding debt, reducing the debt leverage ratio from 0.6 to 0.2 [41] - SG&A expenses were disciplined, with a run rate of $53.1 million, representing 26% of revenue [40] Q&A Session Summary Question: Progress on HUGO platform and revenue impact - Management indicated that HUGO is on track with expansion efforts, though its budget is not material this year [49][50] Question: Growth split between project consulting and managed services - Both segments grew about 12% year-over-year, indicating balanced growth [51] Question: European market performance - European performance was broad-based but affected by vacation impacts, particularly in the U.K. [52][53] Question: Sustainability of gross margin improvement - Management discussed the ability to raise bill rates above pay rates, emphasizing a shift in pricing strategy [54][55] Question: Geographic growth expectations - North America is expected to accelerate faster than Europe, which may experience slower growth due to economic pressures [81] Question: Headcount additions and internal strategy - The company plans to hold headcount steady while monitoring demand closely [89]

Financial Data and Key Metrics Changes - Q4 revenue was $217 million, representing a 28% year-over-year growth after adjusting for currency and business day impact, exceeding the high-end of guidance [36][44] - Gross margin improved by 170 basis points to 41.3%, while adjusted EBITDA margin increased by 340 basis points to 15.4%, marking the highest levels in over a decade [7][38] - SG&A expenses for the quarter were $56.3 million, or 25.9% of revenue, reflecting a 190 basis point improvement compared to the same period a year ago [41] Business Line Data and Key Metrics Changes - Revenue from on-demand talent (professional staffing) increased by 37% year-over-year, while project consulting revenue grew by 21% [38] - Revenue from strategic client accounts increased by 17% over the prior year quarter, with strong growth across finance and accounting, risk and compliance, and business transformation, all growing approximately 30% year-over-year [38][39] Market Data and Key Metrics Changes - Revenue growth in healthcare, financial services, and technology industries exceeded 30% compared to the prior year quarter [39][71] - Geographically, revenue in North America improved by 30% year-over-year, while Europe and Asia-Pacific grew by 9% and 29% on a same-day constant currency basis, respectively [39] Company Strategy and Development Direction - The company made a strategic decision to divest the taskforce business in Germany to focus on project execution for large global enterprises [11] - The strategic plan for the next three years includes five core pillars: digital transformation, brand enhancement, operational excellence, and strategic pricing [13][17] - The company aims to pursue strategic and disciplined tuck-in M&A to strengthen areas of practice with enhanced market opportunities [17] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand across the portfolio despite recessionary concerns, with a robust pipeline and deal flow [23][25] - The company expects continued near- to mid-term revenue growth, with a range of 6% to 9% revenue CAGR from fiscal 2022 to 2025 [44] - Management highlighted the shift in talent strategy towards greater resiliency as a favorable tailwind for the business [18] Other Important Information - The company generated $27 million of cash from operations during Q4 and ended the fiscal year with $104 million in cash and cash equivalents [43] - The divestiture of the taskforce business is expected to adversely impact top-line revenue in fiscal 2023 but will favorably impact enterprise profitability [43] Q&A Session Summary Question: Expectations for seasonal trends in Q1 - Management expects more summer impact this year due to increased travel [50] Question: Initial performance of HUGO in the Tri-State market - Talent adoption is up, and favorable feedback has been received, with plans to roll out in California and Texas [51] Question: Bill rates and pay rate inflation outlook - Bill rates increased by 4%, while pay rates have remained consistent; management believes bill rate upside will outpace pay rate increases [56][59] Question: Sustainability of EBITDA margin expansion - Q4 performance is not expected to be replicated in Q1 due to seasonal impacts, but SG&A leverage is expected to remain favorable [60][61] Question: Pipeline composition and customer mix - The pipeline is strong, with on-demand talent being particularly hot; most work is generated from Fortune 1000 clients [62][64] Question: Update on investment spending and technology modernization - Total investment planned is between $25 million to $30 million, with implementation beginning in Q2 of fiscal 2023 [74] Question: Digital transformation project scope - The focus remains on transformational initiatives, with projects lengthening and increasing in value [76]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ________________________ Form 10-K (Exact Name of Registrant as Specified in Its Charter) ________________________ (State or Other Jurisdiction of Incorporation or Organization) Delaware 33-0832424 (I.R.S. Employer Identification No.) 17101 Armstrong Avenue, Irvine, California 92614 (Mark One) (Address of principal executive offices) (Zip Code) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Exact Name of Registrant as Specified in Its Charter) Delaware 33-0832424 (State or Other Jurisdiction of Incorporation or Organization) (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 26, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______ Commiss ...