Earnings call transcript Q4 2023

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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 instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

would on remind ended results XXXX. I will that May time, commenting be for this like everyone to management XX, At fourth quarter will measures. non-GAAP They to financial refer also certain to An reconciliation measures included the explanation in comparable release today. of measures are issued and press GAAP the these financial most in can SEC. section Investor at today RGP's press release the filed the Today's website with be viewed Relations and also

the discussion be in of the factors May materially. expressed what the results from business, Form during this risks, statements and this XX, discussion that Such differ regarding make July plans, report Form year anticipated the ended RGP's operations, will filed XX, call. call, financial of forward-looking made section strategies, and XXXX, may the XX-K XX-K during predictions results on Factors is performance to Also, are year on uncertainties, condition on for Factors forward-looking and XXXX. May and company. or statements RGP's a be ended and statements included cause Please management the other initiatives, Such events company's XXXX, report the also may XX, Risk in financial section for materially Risk will actual see differ in or which by implied of will for

I'll now turn the Duchene. RGP’s CEO, call over to Kate

Kate Duchene

and being us. with everyone for thanks Good afternoon Thank you, operator.

improved ‘XX, throughout macro consultant improved and are year during profitability We and the the choppiness fourth which fiscal the of retention. strengthened client environment. company a performance we proud of growth despite our in and quarter We delivered financially and the

how we the and shifts how lasting seen works. continuing want work work to are change We to want fundamental world done. way get the to have professionals companies and Coming of out pandemic, the in

clients traditional a it are when give they projects they to engage engaging in is accomplish. execute. control to want on to of that bench constraints a get and choice in consulting with are Without agile project, the experts they of their rates are work dime. so approach engagements resonates They who model without assigned bill junior model, who with work of a that This in business. learn swarms we deliver experts impact consulting world's the and biggest delivering and are We to brands. over want because client's with We and consultants partnership on the that high done better choice weary of which there's often know way delivering to the client's getting best clients the

favorable we high high strong revenue, the again of $XXX.X to guidance. numbers. XX.X%, line spend mid-teen stated exceeding SG&A Gross $XX.X exceeded in to end QX, coming guidance. achieved which our million the for guidance. remained Adjusted performance. In Turning end the EBITDA XX.X% with in than was was improving the margin of quarter, rate million, at in of goal margin Run more

highlight With points. respect performance, organically. grew year-over-year X% full year to We I'll three

geopolitical fiscal conflict, heightened to and declining real due rate increases, ongoing shortages worldwide inflation, of the the talent interest during we're year our growth. half uncertain Given environment to and second macro proud report

representing or basis in margin margin up our a year full EBITDA the was over over highest in million a Driven decade. by Adjusted rates, gross margin of also points is XX.X% year XXX revenue, our bill highest improved full also We improved by gross $XXX.X to to decade. this XX.X%. for again

calendar of whether equally XXXX a in to XXXX divided the much inflation that economists 'XX, resiliency. that on are in the landing US recession in predicted the in As higher likelihood economist the is a June her conference the we citing XX% The growth a and and that now we early happen. US economic today. of in chief economy Economic fiscal bank ahead Last curve from XX% Monday, June, cut will for leading to recession report reported declines Forum a returns look World soft investment chief note board's the probability broadly

environment in base, show certain In some starting the industries. is shoots and green buying geographies to our client

Europe Pacific Asia revenue For trends and example, improving. are

business that if transformation that stream opportunity the digital are interest We will rates a delivered will companies Veracity achieved more at pursue Our to growth continuing and all, by shallow. supporting quarter, double-digit be believe it our we short moderates, stabilize comes strong inflation as potential see year of recession, prior feel agendas. secure conviction over clients steadier and digital

execute what to Next, against I we the outlining want minutes few focused ahead. are spend opportunity on to a

Phoenix. moving optimizing into talent and Salesforce go global phase our our and will replacing includes of we First, This the capability core we're platform And with HCM. software our Workday this and software systems Project testing project and technology fiscal improved transformation, live year. financial

data visibility to are our self-service, and better global drive We new investing in and automation making. improved for efficiency AI analytics in systems decision provide operations, and generative increase through

investment and financial the through headcount supply improve We and expect leverage optimization. to demand returns

deepen We will business. technology, and and focus continue to digital data service the grow offerings to our

our We Veracity ability and deliver cross-sell our from consulting have to services. these of practice enhance part project services to transitioned a into core RGP

one In a leaders. CEO the published board, survey priority conference transformation investment digital for continues the to recent by number be senior

fiscal than this and deliver. revenue RGP More core on of we're XX% investments Veracity's delivered transformation was hold, category forward may well other positioned in While ‘XX in client of the to base. marches be

off. strategy the So paying is cross-selling

and rate cards continue our undertaken competition. know our the a gross consultant capability of We comprehensive in will of margin. uplift to our We We've expertise the clients. enhance caliber dynamics. for brand, RGP and and consultants the review move the will also better card rate delivered of versus set to will fiscal provide This while market who experience reflect the to value continuing deliver and our ‘XX reflect exceptional our value to

of that two want workforce trifecta, highlight I independence both functional in enables I the our and point as view, at impact bring tailwinds judgment. and deliver business believe services, least a which On drive trends them consultants experience We to professional Our expertise serve to for and faster. rare business. topic,

older rise bodes what of individuals. filling experienced well more offers Last a study in Company & it these and the which jobs workers week, research Bain RGP for future, on more published the global

which agree. RGP found who Specifically, the also advantage. competitive that by again XXX will labor significant across embrace talent autonomy workers this and RGP's Bain gaps experience primary the perfectly age strategy that workforce of globe markets. significant million Bain Bain is pool companies workers Japan, like these in and the concludes jobs utilizing to flexibility, model. of countries to The trend aligned shift two XX that income with will over want certainly XXXX. predicts We pronounced our high at is a force US

HUGO, accountants can They In delivering and pandemic-induced for exodus provides platform work accounting to Accountants in they favor of choice. with lower roles. flexibility finance, opportunity left to duress jobs the consulting finance for engagement past provide under mid set two our the and this through talent more and years. greater level digital increased impactful than their find desire. control choice, while as serious RGP accounting the talent increasingly for and US, flexibility self-service. We project XXX,XXX in firm in-demand are technology work rejecting staffing the project want the profession and traditional path is accounting careers This

hard and closing, work commitment this In year. want I for employees to their thank our

marketplace our brand every today's to culture world dare tailwinds above of are and flexibility, delivering all to for the to Backed We in about purpose united work our disruptive to with continue that to value embrace is pride of our and professional We approach excited focused differently. by are and take services our a else. committed each day working offers learning-oriented engagement. differently people We clients the in other. in excellence We're ahead. unique collaborative year on vision our work, the greater disrupt

I'll over Tim operations. for now turn call the an on update to

Tim Brackney

you, good Kate, and Thank afternoon, everyone.

given in revenue solid with through saw as macro strong, delayed demand scopes as the and environment we million, performance business. quarterly $XXX.X clients starts the project our particularly continue and challenges quarter, was of fourth even Overall persisted the top work their exceeded to operational of which end reduced revenue guidance. metrics During

to opportunity represent for base. our conversion endure, than engagements by environment with remains budget overall persistence, initiatives our more pace, although for as upside judicious require into real important and the larger growth opportunities clients, business, demonstrating and which Pipeline client slower from continue share competitors. planning of driven within Countsy represent scrutiny take we they Veracity solid more was year reflective although performance quarter. prior These Regional key comp traditional and over

posted sequential growth generated Europe Asia in Pacific results struggles as and fortitude China. despite showed macro strong business international Our

growth demonstrated basis. basis, Our small a quarter-over-quarter on on strategic down but a was accounts year-to-date program

employee and a given companies path they of their digest as to more change has is workforce change ‘XX, desire mindset, initiatives. use there shifts know the value As of co-delivery market but we important in pace require continue flexibility The the of both the make that slowed, by in to we agile the ultimate get dramatic transformation fiscal for control companies the and build talent through agendas to of and opportunity start plan. complex companies not required remains the overall adjustment

prevalent. tenants today. of These current value flexibility most implementation share we call The of opportunities by they manage clients and and We and becoming more traits a the solution speed, augment more to clients next demand important are environment for seeing year. unseat, and shift provides the We opportunity ultimately are see these of push calendar and into real view firms useful the a to shifts prism are are larger as coming prepare consulting any RGP, transformation as demanded hallmark these initiatives.

of currently to ERP usual. In utilized consumer Fortune this is goods firm past streams, all work deliver stabilization To implementation initiatives, one going both as demonstrate, multiyear client and XXX including a through client has a transformation. business larger

For to chose to two current RGP stability state system provide a also documentation testing, firm with relying to their and go-live this the as requirements while they process, date. while critical larger assist current however, to financial on integrator other the support selecting close roles, project, play

was go-live spin the existing stand-up as of primary Fortune project processes ago essential partnered support. deep which new and new RGP is the transaction former example technology in disengaged The who of includes to the of the post now the another stabilization system live viewed inventory, share entity. the with an It client's This RGP agreement optimizing started couple and financial process is partner from the and firm is ERP assisted parent. we Another partner and supporting journey reporting. XXX are customer. months shift services system data now completely as for with entity's into integrator. this they in management we of carved out went with an a was client core for consulting that a new in a

our to platform. of On the we continued fourth Canada side our in attract the talent quarter, retain and business, to exceptional

the While trends of layoffs impact has not employee on dissipated, restructuring and some the mindset recent receded. of have

One rapid readily the are of workers more and that cycles of of seat agile stability apparent employment dynamic. a two generations last the effects the that the people that The erosion offers. to is and economic change of employment to row pandemic workforce. control offered have And choosing front the and traditional is

norm RGP, strength Given we and determined agilely attract continue community to first this the workforce, at the choice culture and and for new of many diverse time. working a

at talent As in in with saw of Southwest sector our happening reconnected announcements the own the an an company his and example, practice applicant layoffs our ahead team. energy

do the industry sure established looked finally if to prompted project us. fashion. experience to he on He stay through up with decision immediately consulting even the touch has the him several deployed work other months the project a he ago and back. Our environment not help was traditional leave to companies more leave he continue a though with current and in problems years be could and team not in this gained used a workforce will agile and solve Keep relationship was to had

in daring longer strength Given the project change with team normal. a employee accelerate at will reflective timing differently. we starts, remains of to and and of the stayed applicants the will likely and our of to work employment only believe conversion has of brand. sequentially talent for an Ultimately, Attrition current a line employer choice environment empathetic and make the than challenges our the and team is take talent the really hardworking that year-over-year, that new project close RGP talent thinking first in

quarter our increase gross strong we'll to were rates We back year-over-year. margins able fourth Now, and achieved to turn operations. bill

continues value strategic fiscal the push in pricing expansion to initiatives investment year this leverage yielded which and for in that point an be trends of small time. look fiscal will given Our enterprise are pricing launched and a be Early into line seek emphasis increased holiday trust as Pricing the team deliver. expectations months continued as were with ‘XX. and across opportunity we experience and of and and out clients the summer the QX combination vacation we

related pipeline. While continue know is we closes anticipate deals and through timing the summer and to months, there to on challenges starts upside we project based

touch to continue about me the as and strong in on let focus operational vigilant into discretionary Finally, In on spend particularly operating efficiently, in given We remain investments costs margin, environment. EBITDA we managing fiscal ‘XX. leverage. QX, we head resulting economic

I will turn the the our review detailed and outlook now a Jenn results for to first call fourth for over quarter more quarter. of

Jenn Ryu

and Tim, afternoon, you, Thank good everyone.

strong of or remained delivering run EBITDA high with our million performance, and our XX.X% margin This quarter, adjusted disciplined than range our favorable better end end revenue exceeding margin. we the a performing SG&A $XX.X achieved rate and gross costs, outlook, of we of outlook the

provided our while we down a XX.X% we elevated divested and May pandemic. and the X.X%. to task clients declined XX.X% force declined QX had America 'XX, on constant X.X% XXXX. of top-line was While April, down Europe outperformed day excluding revenues outlook emerged fiscal task in force Revenue in by currency North as compared basis excluding same from range APAC was

to what on America included the Bright over been same an ‘XX day, in Despite a the constant comparisons, decade, tough North the year-over-year growing spots notwithstanding and which revenue double different currency in made years full taskforce, by of year-over-year. after year-over-year two both due and Veracity grew years, QX challenging fiscal has a throughout X% cadence environment. uncertain fiscal best year basis, revenue Countsy, one digits excluding

Gross in was quarter the margin XX.X%.

the improvement progress XXX make in ratio an basis We continue of to bill good bill on driving raising pay points. rates,

Pac Our basis. quarter bill and improvement currency the to with rose X% and on US constant driving of average fiscal Asia X% rate X% 'XX fourth a Europe compared

$XXX for pay average Excluding the year flat a taskforce, while enterprise $XX. bill from was ago, constant $XXX average quarter remains rate at currency, up rate

cost we with disciplined to identify Turning opportunities SG&A, management to structure. our streamline remain continue and cost to

expense run as ago Our a year million, versus incentive a rate expense. result of an was compensation for SG&A improvement primarily $XX.X lower $XX.X million the quarter

and non-cash SG&A technology run reminder, costs. a charges, stock excludes As restructuring transformation rate compensation consideration contingent

liquidity. to Turning

We $XXX We the for million in back We dividends cash in which million, profitability, $XX available stocks equivalents the with million continue the ability $XX outstanding long-term cash to drive and ended the demonstrate growth fourth operations robust share of buying fiscal total of dividends most year $X.X return continuing fiscal areas our by cash of generate cash invest flows. shareholders debt. liquidity we to program year. and million plan critical opportunistically Cash end had to the while through to available repurchase $X.X distributed business at financial was of $XXX repurchased our zero quarter. million. and through to the the to and million of from nearly worth With year during and shares fiscal

million $X.X $X.X our costs quarter, project non-run as operating progress. with of continue capitalized million million the multiyear transformation $X.X in in We incurred the to which included of expense. remaining technology were Investments rate

operating will the Post cash to quarter anticipate drive expect We new capitalized. approximately the would on enhancing $X the value to project of $X $X be talent our transformation technology term the platform million of efficiency, the platform. to in improving outlay scale, go-live, million be in of million range by $X which our stickiness we million first long enabling

we weekly August. more so consultants the impact with throughout our typical expect in close summer. Europe, beginning pronounced time quarter take Particularly seasonality vacation We're even outlook. as first our in seeing far in now revenues I'll the off

coupled to revenue be economic impact, seasonality estimate overall will $XXX of QX the softness uncertainty, million. the we and in Given range with million $XXX

to on to We of and margin expect as XX.X%. offset XX.X% expectations, range leverage expect pay indirect QX a bill by remain service of the result cost healthy be to ratio in top-line in less of favorable we gross

On million of of million expense. approximately the million, for in will to our SG&A range costs quarter non-cash we of run $X the $XX expect million stock $X to $XX $X million non-run SG&A technology and transformation first consist compensation the of be and rate rate to front, expenses

posing model, While resilient cost the With liquidity, continue ample longer-term excited outlook. value we're sector, fundamentals a long for we balance challenges general about macro and and are backdrop RGP's to a is our our sheet believe we positioned shareholders. currently business variable to drive for pristine well term

Q&A. we call remarks and This the concludes for open up prepared our now will

Operator

Thank question you. first Marc [Operator Sidoti. comes Our Riddick from Instructions] with

may You proceed.

Marc Riddick

Hi, good evening.

So from follow-up all advantages the learnings of have the if maybe talk detail learnings pricing some pricing had maybe wondering then take you about of gaining for on bit little of you're and was those you that on the a thank us where results. the sort I you I can the and areas some headcount. of through a you've around

Kate Duchene

I'll and start are undertaken the our a into set But details. comprehensive opportunity comment really of then we've competitive for digging with I'll and Tim Yeah, more review ask to RGP.

kind we're will. reflect you better need right our and value The oranges, when to always up and can to us. need have to are expertise away reinforce of our pricing. four, speed really consultants the judgment We delivering oriented mean, been if the traditional RGP I in to to big for rates that we that for of consultants are our to the impact, differentiators compare bring apples we Marc, that experience and model providing and the you bring the continue our the believe to really caliber

and I'll forward. to you Difficulty] Tim that we're how [Technical real he now on can it give some turn So initiative moving

Tim Brackney

you? are Yeah. Hi, Mark. How

Marc Riddick

good. Very

Tim Brackney

said. Kate what to add I'll

two we this year, ways. it sort about Specifically of in main went

through training. team strategic our training was and making and entire first actually received sure the to pricing that going back The one go-to-market

kind a people get basics value to more that back opposed the having honestly thinking of about thinking of pricing to cost was Some about to of as plus. of

had I a think impact. significant actually that's very

governance. and ensuring was the pricing piece in really started the involved second value. and think that half to standard And to where more in sales our really projects that we I honestly actually terms has are second set the are occur The of that leaders in transactions kick-in that we to adhering

enrolled, respect And strategic really our us with using and forward. and was to but negotiations as third those go to some our of clients the this -- existing and also thing both think to with pricing like then review team cards, internally Kate rate existing taking hard geographies of a alluded we I to with as we our respect help

So our a of us prospective long stretches some where lot of look and well. is that also for there existing we've time think had there to we an think there's engagements where there's of uplift capability as out some teams we at for opportunity

Marc Riddick

Okay, far a then, headcount forward. might great. far can about so consultant that finishing a of we're sort as Hello? over as headcount [XX, around there Is looking as And as going see little I to there thoughts as changes what XX, any talk the of X,XXX] ballpark sort at the bit we year little (ph).

Kate Duchene

Yeah. Hi, Mark.

I But right week move people think seasonality take some that what as QX, week will time-off. we're we're as holding to we seeing steady consultant is our have as said we now. Jenn consistency into in

Marc Riddick

the we are changes some was any -- to just economy, over Thank if shoots since been we rollout? the learnings last that HUGO customers what Great. the the talk given seeing last of the the are green sort the wondering and of wondering last differences maybe you're if could you some during seeing the approaching the a little you. any to rollout we've bit And learned maybe HUGO thing talked -- of if about I of around benefits. in -- how there's some then And of the as hopefully as

Kate Duchene

we're Mark on we're one are year, marketing/revenue and Sure. category In the success Thanks is commercializing against how track plan we periods the for really in in on two. and and three factors. question. HUGO this focused proceeding One of

our the and on interaction talent The We're do more are and in. registrations we platform talent to the our in is the above getting registrations plan trending goal understanding how product tech responding their getting nicely. technology marketing those third second to really is talent that's and order and very the talent approved adjust through platform then capture and to And with then people need registrations. on

traditional highlighted play accountants an So accounting more because I the our that in are it's are to want happening and prepared bring as early profession So to opportunity leaving itself just ways? in that market in in think not out the the and how far, my what's performing I well. more things their more think looking but remarks days. but to it's overstate good. moving the I my to have skills can say opportunity only I trends I there, do new profession are I don't product we'll for mean, HUGO is see direction

how fiscal we So seeing ‘XX look forward unfolds. to

Marc Riddick

very you Thank Great. much.

Kate Duchene

welcome. You're

Operator

Instructions] [Operator Baird. Our Childress with next question from Andre comes

You may proceed.

Andre Childress

trends this Hello, Marcon. our sequential what by provide for Thank you you could Mark and first on the Childress question progressed? as the is, Andre month questions. taking quarter saw is My you for

Jenn Ryu

Hi, can that. Andre. I Sure. Yeah. do

So as and start of impact and Asia in the June and some the at we're the in typical well. year July, Europe course seeing Pac US summer of in the

the Europe, QX, vacation is down line say, more impact the a the is slow the I trend do due the But though, overall, QX impact. in expectation. August beginning did and Going Overall, of end think our typically summer would with pronounced bit holiday into of impact in compared that we to August. in to

Andre Childress

quarter. And about during what then the

few So the months quarter fiscal the of QX how past in progressed? terms

Jenn Ryu

Yeah. globally. I in the throughout, QX it say quarter steady throughout meaning would was

Andre Childress

bit What side, then are what more a seeing areas scrutiny? on green about areas doing shoots? talked provide pressure specifically, you you're some some maybe or in of Okay, then And prepared But better remarks, Veracity. about what flip we're little the talked could little you bit little seeing bit shoots more there? great. a areas a And you a bit your seeing seeing little green maybe what you context are

Kate Duchene

I'll It's comment too. Hi, Tim and ask to then Kate Yeah. Andre.

last as around pharma on give who you is to really week we he had conversation get real the example starting the work with cutting, I said of a is especially provider a and And CFO saying of opportunity pickup Tim a areas in area XXX a I'll and looking project a company. value RGP. shift three client, us? Fortune see more So very of to it cost of And helps that at out can I what share, set relates for where think direct focused

are already always about are we investments software choices into I third think optimizing, that global RGP. our back or see that be to is improving clients services opportunity an the bringing that's second lot the business And whether largest ServiceNow transactions is more to seeing. a green And for coming of cost of play. hear increasing or like the then we're kind The AI now more optimizing made. or into movement we're shoots turning can their engagement, lower starting employee that to And they've optimize do functions services what environments, automation they those shared

Tim Brackney

of Andre, reorganizations that early a starting the and part out. which decisions add to into were things. let in the flying under me to of of are some fire been year, some strategic the the we're One I some the year think the of couple shake there sector, as has tech see is, just starting play put whole

some clients. our the say to healthcare about thing true workforce least slates. same starting some in at large and healthcare, So get firmness is project of plans I'd their around

little has economy though even interest financial rates some news services, and mixed I a like the been there generally things bit still and good it's that, think about there.

evaluations. we we pursue have of are sort other that some through to So still things. clients then are And clients that starting going have

Andre Childress

just Thank Great. very I'll more. ask helpful one color. you. That's

talked the but term, little talk remarks, priorities repurchases a a more that organically? of be the your little in prepared whether share about near some You about investments or allocation capital in bit bit could you

Jenn Ryu

pretty investment take I ongoing Andre. I is is and significant range. we we technology can that that mean, in obviously transformation the Yeah, a mid-$XX have -- project the that, Yes, million

digital organically focused we're right looking So and in business. invest that we business, also Veracity on now our are our to

So there there's in that investment in as going well.

we're these carefully of and investments we accelerating making, that always, consider inorganic some buybacks as given will So raising we, dividends.

just million share so ‘XX, a reminder, on repurchases $XX total and as dividends. in fiscal And we spent in

about balance roughly income than for probably that's So that more forward. the we'll year to and of XX% net going our continue

Andre Childress

answers. for you Thank Great. all the

Operator

the concludes Kate back this session. any turn Thank for to to our like you. closing Q&A over call I'd now Duchene And remarks.

Kate Duchene

I that see somebody it one take Josh, have Can we we call? up. more queued to open

Operator

One Yes. moment for questions.

Kate Duchene

you. Thank

Operator

Our JPMorgan. comes next from with question Stephanie

You may proceed.

Stephanie Yee

Kate. you the you can what currency Hi, for quarter, the just organic is? for in. first me day guide Jenn, us assumption the on Thank revenue squeezing constant tell same basis

Jenn Ryu

Yeah, sure.

year, about best 'XX that is had XXXX. pandemic of So we want out And of top end from -- coming QX decline QX the fiscal is range that's the of of the fiscal of the at last $XXX XX% of that million, QX QX a everybody 'XX. I since just to remind

comparison. a So it is tough

about So day if the a -- end of million from on last but same range, -- it year you top quarter. basis you're same at a at at quarter look $XXX decline last XX% looking

Stephanie Yee

just or you -- comments feel at the about towards us we currently where environment, targets given you just fiscal you environment, can thinking that is tracking remind your also how how RGP economic XXXX you how the Kate, given Jenn, about but Investor targets put about financial And the Day? great. Okay, you're can forth change those then are in your just

Kate Duchene

really it Jenn. this, I talk I we're environment. then it's you tell mean, every hard and pricing. upside more we set. mean, that value-oriented it's top-line every to. I can I and challenged drive question start in all think client pricing a working more our mean, I And no we the of quickly but There's that's hand Stephanie I'll just not services increasing Yeah. not capturing facing and to just our volume opportunity, only through on professional extremely competitive on so we are RGP

So it. to do I think working think realistic still is realistic? challenging, think but and I range is it's achieve we're I hard that it our

you'd specifics to So with like offer? that, you more Jenn, have do

Jenn Ryu

No, I mean, been been And broader we With a the time grew XX-plus-percent. overall would 'XX, we into has challenged year been know sector it has that. the period. and pandemic is sector in with three-year all -- agree the -- coming fiscal our I we said, of out sluggish. that are has that

can it's there? too I early range. get to still So change think we that

Kate Duchene

really we're And I'd Stephanie, and is of adjusted say profitability initiatives one of in our driving shareholder the biggest what we're value. improvement also enhanced around I in reflected and company. models all really EBITDA of the it's Yes, the improving of our proud hope

top-line. me, So we're base. the it's shareholder our for not It's to return of just delivering combination

Jenn Ryu

gross term, thank we just we're [indiscernible] the Yeah. to Day be what without targeting said between one exceeded that XX% longer our adjusted said of a that should we're to in pricing with recover XX% our and start able some up. you targeting we're and driving macro mid-teen bit, and assuming XX%. to our initiatives margin to expand run EBITDA continue one-time SG&A bringing And I that adjusted also item EBITDA, on the -- we Investor we've have that. Kate, we EBITDA, you look The already for if already have at more was

that looking at we're mid-teens working And our number. margin is target that's towards how long-term so EBITDA

Stephanie Yee

makes sense. Thanks you. all Okay. Great. much. very That Thank

Operator

to you. turn now back for any remarks. like to over And the call Thank I'd Duchene Kate closing

Kate Duchene

world what I way to the to the again company want operator. And QX RGP, summer. after forward everyone your interest and your everyone the works. Thanks for in talking you support of in doing, you, the with enjoy we fall. our Thank we're look change and to thank

Operator

Thank conference concludes you. participating. you for This Thank call. today's

You now disconnect. may

Resources Connection (RGP) 24 Jul 232023 Q4 Earnings call transcript