24/7 Market News Snapshot 02 January, 2025 – Resources Connection (NASDAQ:RGP)

January 2, 2025

DENVER, Colo., 02 January, 2025 (247marketnews.com) – (Nasdaq:RGP) are discussed in this article.
Resources Connection, Inc. (Nasdaq:RGP) experienced notable activity in the stock market, opening at $8.55 and reflecting a robust bullish swing, currently trading around $9.481—a gain of about 11.15%. This surge indicates strong investor interest, supported by substantial trading volume of 662.19K shares. The stock’s upward movement points to a positive market sentiment, which may be influenced by recent financial outcomes or favorable changes within the organization. Investors are advised to keep an eye on crucial resistance levels near $9.50 and an opening support price of $8.55, as sustained trading volume will be vital in maintaining this upward trend.

In conjunction with its market performance, Resources Connection reported its second quarter financial results for fiscal 2025. The company generated total revenues of $145.6 million, representing a year-over-year decline of 10.7%. However, there was a sequential growth of 6.3%, suggesting a recovery from earlier fiscal challenges. The firm demonstrated operational efficiency with a 3.2% reduction in selling, general, and administrative expenses, totaling $51.3 million, despite a slight dip in gross margin to 38.5%.

The net loss for the quarter was $68.7 million, attributed largely to a non-cash goodwill impairment charge of $79.5 million. Nevertheless, adjusted diluted earnings per share stood at $0.18, down from $0.28 the previous year. CEO Kate W. Duchene remarked on the company’s performance, stating optimism regarding future market conditions and the efficacy of its client-focused strategies, particularly in finance, supply chain, and human resources. The Consulting segment saw encouraging revenue growth, further solidifying Resources Connection’s commitment to enhancing client services and maintaining a strategic position for future opportunities in the evolving professional services landscape.

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