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Navigant misses Street 2Q forecasts

CHICAGO (AP) _ Navigant Consulting Inc. (NCI) on Monday reported second-quarter profit of $8.8 million.

On a per-share basis, the Chicago-based company said it had net income of 18 cents. Earnings, adjusted for severance costs, were 24 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The consulting company posted revenue of $256.8 million in the period. Its adjusted revenue was $235.2 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $248.3 million.

Navigant expects full-year earnings in the range of $1.19 to $1.29 per share, with revenue in the range of $955 million to $980 million.

Navigant shares have decreased 24 percent since the beginning of the year. The stock has risen slightly in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on NCI at https://www.zacks.com/ap/NCI

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Keywords: Navigant, Earnings Report