The double-digit revenue acceleration and EPS beat versus consensus confirm the growth narrative from Q4 2025. With FY2026 guidance maintained and a $50M buyback increase, the stock should re-rate higher. Watch Q2 2026 for continued high-single-digit revenue growth and margin execution.
Price Chart
Executive Summary
Exponent reported Q1 2026 results with total revenues up 14% to $166.3M and revenues before reimbursements up 10% to $151.8M, both accelerating from the prior quarter's 7.8% and 4.5% growth. GAAP EPS of $0.59 beat the $0.56 Street consensus by 5.4%, and the company maintained its full-year guidance for high-single-digit revenue growth and 27.6%-28.1% EBITDA margins. The Board also added $50M to the share repurchase authorization, bringing total capacity to $67.7M.
Key Financial Metrics
Key Facts
- Total revenues increased 14% YoY to $166.3M (vs $145.5M in Q1 2025)
- Revenues before reimbursements grew 10% YoY to $151.8M
- GAAP diluted EPS of $0.59 vs $0.52 in Q1 2025, beating Street consensus of $0.56
- EBITDA margin improved to 28.4% of net revenues from 27.3% a year ago
- Engineering segment revenues before reimbursements grew 12% YoY; Environmental & Health segment grew 2%
- Full-year FY2026 guidance maintained: high-single-digit revenue growth, EBITDA margin 27.6%-28.1%
- Board increased stock repurchase authorization by $50M (total $67.7M available)
- Cash and cash equivalents at $118.6M after paying $16.6M in dividends and repurchasing $78.8M of stock in Q1
- Headcount grew 5% YoY; utilization at 76%
Financial Impact
Q1 revenue beat consensus by ~$13.3M (8.7%); EPS beat consensus by $0.03 (5.4%); $50M buyback authorization increase
Risk Factors
- Full-year guidance unchanged despite strong Q1 — implies deceleration in remaining quarters
- Cash burn from aggressive buybacks ($78.8M in Q1) reduced cash from $221.9M to $118.6M
- Environmental & Health segment growth remains tepid at 2%
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-002896 |
| Exhibit: exh_992.htm | 0001171843-26-002896 |
| Document: f8k_043026.htm | 0001171843-26-002896 |
| Document: 0001171843-26-002896-index-headers.html | 0001171843-26-002896 |
| Document: 0001171843-26-002896-index.html | 0001171843-26-002896 |
| Document: 0001171843-26-002896.txt | 0001171843-26-002896 |
| 8-K Data (Synthetic) | 0001171843-26-002896 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 9, 2026 15w ago | Press Release | $62.10 $68.75 | ▲ +10.71% | ▲ +8.08% | $77.66 (+25.06%) |
May 27, 2026 21w ago | Insider Cluster | $57.08 $69.38 | ▲ +21.55% | ▲ +19.67% | $77.66 (+36.05%) |
May 19, 2026 22w ago | Insider Cluster | $56.99 $68.21 | ▲ +19.69% | ▲ +13.40% | $77.66 (+36.27%) |
May 15, 2026 23w ago | Insider Cluster | $57.05 $67.64 | ▲ +18.56% | ▲ +13.71% | $77.66 (+36.12%) |
May 13, 2026 23w ago | Insider Cluster | $54.54 $66.79 | ▲ +22.46% | ▲ +18.02% | $77.66 (+42.39%) |
Apr 30, 2026 25w ago | 8-K | $65.28 $65.00 | ▼ −0.43% | ▼ −3.50% | $77.66 (+18.96%) |
Apr 30, 2026 25w ago | Press Release | $65.28 $65.00 | ▼ −0.43% | ▼ −3.50% | $77.66 (+18.96%) |
US Market Status
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