Hackett Group Inc (The). - HCKT STOCK NEWS

The Hackett Group, Inc. (NASDAQ: HCKT) is set to release its financial results for Q3 2022 on November 8, 2022, after market hours. A conference call with senior management to discuss these results will occur at 5:00 PM ET on the same day. Participants can dial in at (800) 593-0486, with an international number of (517) 308-9371. If unable to join live, a rebroadcast will be available from 8:00 PM ET on November 8 to 5:00 PM ET on November 22, 2022. The call will also be webcasted live on the company’s website.

The Hackett Group (NASDAQ: HCKT) released a Cloud Services Study revealing that 70% of technology infrastructure will migrate to the cloud within two to three years. Participants reported a 12% reduction in technology costs post-migration, with top performers seeing 37% savings. Significant benefits include a 36% increase in developer innovation time and a 45% reduction in time to market. The study aims to quantify cloud migration benefits and is part of a five-year initiative. A complimentary overview is available for registration.

The Hackett Group (NASDAQ: HCKT) has launched a new Market Intelligence Service aimed at software and service providers. This service will evaluate providers' abilities to deliver business value and assist companies in achieving Digital World Class performance. Utilizing the Hackett Excelleration Matrix, the service will categorize providers into Integrators, Innovators, and Digital World Class Solutions, drawing insights from nearly 20,000 benchmark studies. Initial reports will focus on customer-to-cash processes, offering valuable information to corporate executives for purchasing decisions.

The Hackett Group, Inc. (NASDAQ: HCKT) announced its Q2 2022 financial results, reporting a 4% increase in total revenue to $75.9 million and a 2% rise in revenue before reimbursements to $74.8 million. Adjusted diluted EPS was $0.38, down slightly from $0.39 in Q2 2021. The company has $61.7 million in cash and no debt, and a $10.6 million share repurchase program remains. A quarterly dividend of $0.11 per share was declared, payable on October 7, 2022. Outlook for Q3 2022 projects revenue of $70.5 million to $72.5 million.

The Hackett Group (NASDAQ: HCKT) released its 2022 Working Capital Survey, revealing that despite improvements in working capital management, excess working capital opportunities grew by 28% to $1.7 trillion. Major metrics showed positive trends: DPO increased by 0.5% to 62.2 days, DSO improved by 2% to 40.6 days, and DIO decreased by 2% to 55.7 days. Revenue surged by 22%, contributing to a 12% rise in EBITDA margins. However, companies face ongoing challenges like high inflation and interest rates, necessitating robust working capital strategies.

The Hackett Group (NASDAQ: HCKT) will release its financial results for the second quarter ended July 1, 2022 on August 9, 2022, after market close. Senior management will discuss the results in a 5:00 P.M. ET conference call. Participants should dial in 5-10 minutes early at (800) 593-0486 (International: (517) 308-9371), using the passcode 'Second Quarter'. A rebroadcast will be available from 8:00 P.M. ET on the same day until August 23, 2022. Access the webcast on the company’s website.

The Hackett Group recently released its 2022 Technology Key Issues research, highlighting a significant shift in technology resource allocation, with 7.5% increases expected in spending and 6% in staffing. While technology leaders are prepared for virtual work and as-a-service models, they face challenges in skill shortages, lacking confidence in data management and analytics capabilities. Digital transformation remains a top priority, with cloud hosting dominating. The research indicates a transformative year ahead as companies adapt to these new dynamics.

The Hackett Group identified that HR leaders are struggling with increased workloads and declining budgets in its latest research for 2022. The study indicates that while HR's workload is expected to rise by over 9%, budgets may decline by 0.2%, and headcount will only increase by 0.4%. This creates an 8.9% productivity gap. To address these issues, HR technology spending is forecasted to increase by more than 9%. HR executives face challenges in talent retention and recruitment, affecting their ability to act as strategic advisors while managing day-to-day operations.