Earnings

Huron Raises 2026 Adjusted EPS Guidance After Record Quarter

The Tip Desk · November 10, 2026 · 3 min read

The firm lifted the midpoint of full-year adjusted diluted EPS to $9.30 after third-quarter revenues before reimbursable expenses reached a record $482.5 million.

Huron Consulting Group (HURN) raised the midpoint of its full-year 2026 adjusted diluted earnings-per-share guidance to $9.30 and narrowed its revenues-before-reimbursable-expenses outlook after a record third quarter, as demand held across all three operating segments.

The global professional services firm reported revenues before reimbursable expenses of $482.5 million for the quarter ended September 30, 2026, up 11.6% from $432.4 million a year earlier. That year-over-year pace slowed from 15.7% growth in the second quarter and 12.1% in the first.

Chief Executive Mark Hussey said third-quarter performance was driven by organic growth across all operating segments and double-digit percentage growth in Consulting and Managed Services and Digital capabilities. The $50.2 million increase included $21.1 million of incremental RBR from acquisitions completed since June 30, 2025. Excluding those deals, RBR grew 6.7% organically.

Healthcare remained the largest book. Healthcare RBR rose 16.5% to $255.8 million, with segment operating margin of 30.5%. Education RBR rose 6.6% to $138.0 million, with operating margin of 29.1%. Commercial RBR rose 6.4% to $88.8 million, with operating margin of 13.9%. Consulting and Managed Services RBR rose 12.2% to $287.5 million; Digital RBR rose 10.8% to $195.0 million.

Utilization rose on both hourly capabilities. Consulting utilization increased to 76.2% from 73.7% a year earlier, and Digital utilization increased to 81.2% from 77.1%. Revenue-generating professionals excluding Managed Services rose 1.1% to 5,324. Managed Services professionals rose 103.7% to 4,216, including about 1,100 added by the RelateCare acquisition in the second quarter of 2026.

Adjusted EBITDA increased 14.7% to $77.3 million, or 16.0% of RBR, from 15.6% of RBR in the year-ago quarter. Adjusted diluted earnings per share rose 24.8% to $2.62 from $2.10.

GAAP results told a different story. Net income was $28.4 million, or 5.8% of total revenues, compared with $30.4 million, or 6.9% of total revenues, a year earlier. Results included a $5.9 million non-cash credit-related loss from an increase to the credit allowance on a convertible debt investment in a third party, which reduced diluted EPS by $0.36. Diluted earnings per share were $1.75.

Huron returned $26.3 million to shareholders in the quarter by repurchasing 172,865 shares. On October 29, 2026, the board increased the share-repurchase authorization from $900 million to $1.1 billion and extended the program through December 31, 2028.

The company is affirming the midpoint and narrowing full-year 2026 RBR guidance to a range of $1.855 billion to $1.885 billion, after raising that range to $1.85 billion to $1.89 billion following second-quarter results. It also anticipates adjusted EBITDA as a percentage of RBR in a range of 14.5% to 15.0% and is raising the midpoint and narrowing adjusted diluted EPS guidance to $9.20 to $9.40. Hussey said the midpoint of the new ranges reflects double-digit percentage RBR growth for full-year 2026 and continued margin expansion.

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