HURN · Huron Consulting Group Inc.

Huron Consulting Group delivered a strong start to fiscal 2026, with revenues before reimbursable expenses (RBR) climbing 12.1% to a record $443.7 million. This growth was broad-based across Healthcare, Education, and Commercial segments, with Healthcare achieving record RBR performance. The revenue increase includes $19.3 million from acquisitions completed since late 2024, translating to solid organic growth of 7.3%. The company continued its trajectory of margin expansion, as Adjusted EBITDA surged 21.9% to $50.6 million, improving the margin to 11.4% of RBR compared to 10.5% in the prior year period. This operational leverage highlights disciplined execution despite a challenging macro environment.

While GAAP net income saw a slight decline to $23.2 million from $24.5 million, this was primarily attributable to a shift in tax dynamics; the current quarter incurred $3.8 million in income tax expense versus a $3.1 million benefit in the same quarter last year. Excluding this and other adjustments, Adjusted Net Income remained robust at $30.0 million. A significant capital return initiative marked the quarter, with Huron repurchasing 1.1 million shares for $155.5 million, representing 6.5% of shares outstanding. Management expressed confidence in the company's pipeline and backlog, affirming full-year 2026 RBR guidance of $1.78 billion to $1.86 billion and targeting Adjusted EBITDA margins of 14.5% to 15.0%.