CRA International reported 12.8% year-over-year revenue growth in Q2, reaching $210.8 million, with management consulting revenues up 25.5%. The firm raised its fiscal 2026 revenue guidance to $805-820 million from $785-805 million, supported by growth across eight practices representing 95% of revenues. However, profitability pressures persist. Cost of services rose to 71.3% of first-half revenues from 67.5% last year, whilst non-GAAP EBITDA margin declined to 12.1% from 13%. Management expects non-cash forgivable-loan amortisation to increase by roughly $15 million in fiscal 2026. First-half operating activities consumed $118.3 million in cash, up from $74.1 million previously. CRAI ended Q2 with $21.4 million cash and $197.6 million net debt. The stock trades at 18.7 times forward earnings, above the consulting sub-industry's 14.6 times multiple.

CRA International reported second-quarter revenue of $210.8 million, beating analyst estimates of $198.9 million and marking 12.8% year-on-year growth. The economic consulting firm's adjusted earnings per share of $2.16 also exceeded expectations. The company saw double-digit growth across six practices, including Energy, Life Sciences, and Forensic Services. Antitrust & Competition Economics achieved a quarterly revenue high. International revenues rose 32.9% year-on-year, driven by organic growth. CEO Paul Maleh cited "peak levels of new project opportunities and historically high conversion rates", particularly in Life Sciences and Energy. The company increased consultant headcount by 3.3%, with utilisation reaching 77%. Management attributed demand to rising legal case filings and record merger and acquisition activity, though cautioned that geopolitical and macroeconomic conditions could affect future performance.

Charles River Associates has expanded its credit facility to $400 million through a six-bank lending syndicate. The five-year agreement includes a $75 million term loan and a $325 million revolving credit facility, replacing a previous $300 million facility set to mature in August 2027. The revolving facility can be reduced to $250 million between 16 July and 15 January each year when working-capital requirements are lower. CRA will use proceeds to repay outstanding borrowings, support working capital, fund growth investments, and cover general corporate purposes. The lending group includes Bank of America, Citizens Financial Group, Eastern Bank, and Beacon Bank & Trust, with BMO and M&T Bank joining as new lenders. The expanded facility provides additional liquidity as the consulting firm invests in its global economic, financial, and management advisory operations.