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Why is Resources Connection Inc (RGP) Stock down?
We've noticed a 11.83% decline in Resources Connection Inc (RGP) stock during the 2024-10-02 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
05 Oct, 2023:
Resources Connection Stock (RGP) dropped by 6.56% from $14.48 to $13.53 in the trading on Thursday October 5, 2023. The reason why RGP stock down is due to the Q1 FY24 results.
- Revenue of $170.2 million, marginally beating the consensus of $170.14 million.
- Same-day constant currency revenue fell 17.0%, reflecting the impact of a continued challenging macroeconomic environment.
- The gross margin of 39.4% came below 40.9% a year ago due to a higher pay/bill ratio and a decrease in leverage on cost of service as a result of lower topline revenue.
- Adjusted EPS of $0.20 missed the street view of $0.23.
1.59%
6.68%
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