Unpacking Q2 Earnings: CRA (NASDAQ:CRAI) In The Context Of Other Business Process Outsourcing & Consulting Stocks

September 18, 2025 at 23:37 PM EDT

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The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how business process outsourcing & consulting stocks fared in Q2, starting with CRA (NASDAQ: CRAI).

The sector stands to benefit from ongoing digital transformation, increasing corporate demand for cost efficiencies, and the growing complexity of regulatory and cybersecurity landscapes. For those that invest wisely, AI and automation capabilities could emerge as competitive advantages, enhancing process efficiencies for the companies themselves as well as their clients. On the flip side, AI could be a headwind as well as the technology could lower the barrier to entry in the space and give rise to more self-service solutions. Additional challenges in the years ahead could include wage inflation for highly skilled consultants and potential regulatory scrutiny on outsourcing practices—especially in industries like finance and healthcare where who has access to certain data matters greatly.

The 7 business process outsourcing & consulting stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 1.2% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

CRA (NASDAQ: CRAI)

Often retained for high-stakes matters with multibillion-dollar implications, CRA International (NASDAQ: CRAI) provides economic, financial, and management consulting services to corporations, law firms, and government agencies for litigation, regulatory proceedings, and business strategy.

CRA reported revenues of $186.9 million, up 9% year on year. This print exceeded analysts’ expectations by 3.6%. Overall, it was a strong quarter for the company with full-year revenue guidance topping analysts’ expectations and a beat of analysts’ EPS estimates.

“Continued momentum in the business and demand for our services drove CRA’s quarterly revenue to $186.9 million, representing 9.0% year-over-year growth and the highest quarterly revenue in the company’s history,” said Paul Maleh, CRA’s President and Chief Executive Officer.

CRA achieved the biggest analyst estimates beat of the whole group. Unsurprisingly, the stock is up 22.5% since reporting and currently trades at $212.31.

Is now the time to buy CRA? Access our full analysis of the earnings results here, it’s free.

Best Q2: FTI Consulting (NYSE: FCN)

With a team of experts deployed across 30+ countries to tackle complex business challenges, FTI Consulting (NYSE: FCN) is a global business advisory firm that helps organizations manage change, mitigate risk, and resolve disputes across financial, legal, operational, and regulatory matters.

FTI Consulting reported revenues of $943.7 million, flat year on year, outperforming analysts’ expectations by 3.4%. The business had a very strong quarter with a beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2% since reporting. It currently trades at $164.14.

Is now the time to buy FTI Consulting? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Concentrix (NASDAQ: CNXC)

With a team of approximately 450,000 employees across 75 countries, Concentrix (NASDAQ: CNXC) designs and delivers customer experience solutions that help global brands manage their customer interactions across digital channels and contact centers.

Concentrix reported revenues of $2.42 billion, up 1.5% year on year, exceeding analysts’ expectations by 1.2%. Still, it was a mixed quarter as it posted a significant miss of analysts’ EPS estimates.

Interestingly, the stock is up 3.4% since the results and currently trades at $57.02.

Read our full analysis of Concentrix’s results here.

Exponent (NASDAQ: EXPO)

With a team of over 800 consultants holding advanced degrees in 90+ technical disciplines, Exponent (NASDAQ: EXPO) is a science and engineering consulting firm that investigates complex problems and provides expert analysis for clients across various industries.

Exponent reported revenues of $132.9 million, flat year on year. This print topped analysts’ expectations by 1.5%. Zooming out, it was a mixed quarter as it also recorded EPS in line with analysts’ estimates but revenue guidance for next quarter slightly missing analysts’ expectations.

The stock is up 1.7% since reporting and currently trades at $70.16.

Read our full, actionable report on Exponent here, it’s free.

CBIZ (NYSE: CBZ)

With over 120 offices across 33 states and a team of more than 6,700 professionals, CBIZ (NYSE: CBZ) provides accounting, tax, benefits, insurance brokerage, and advisory services to help small and mid-sized businesses manage their finances and operations.

CBIZ reported revenues of $683.5 million, up 62.7% year on year. This number came in 2.6% below analysts' expectations. Aside from that, it was a satisfactory quarter as it recorded a beat of analysts’ EPS estimates.

CBIZ delivered the fastest revenue growth but had the weakest performance against analyst estimates among its peers. The stock is down 27.4% since reporting and currently trades at $55.35.

Read our full, actionable report on CBIZ here, it’s free.

Market Update

The Fed’s interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump’s presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025.

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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