Exponent Gains After-Hours on Stronger-than-Expected Q3 Results, Boosted Share Buyback Authorization

Exponent (EXPO) advanced in extended trading on Wednesday after the engineering and scientific consulting firm reported stronger-than-expected Q3 results, added to its current share buyback authorization, and maintained its quarterly dividend.

EPS decreased to $0.42 in the September quarter, from $0.43 in the year-ago period, beating the $0.34 average estimate of analysts polled by Capital IQ.

Q3 revenue declined 2% to $77.6 million year-over-year, but topped the analyst consensus of $70.6 million.

Also on Wednesday, Exponent authorized an additional $35 million in share repurchases, adding to the company’s existing $22 million available under the current authorization for repurchase. In total, the company now has approximately $57 million available to repurchase shares.

The company also retained a quarterly cash dividend of $0.18 per share of common stock to be paid on Dec. 23 to all common stockholders of record as of Dec. 2.

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