Resources Connection Inc. (NASDAQ:RGP) shares fell 12.83% to $3.26 in after-hours trading Wednesday after the company reported first-quarter fiscal 2027 results.
Resources Connection, operating as RGP, is a global professional services firm offering On-Demand Talent, Consulting and Outsourced Services.
Q1 Results
Resources Connection reported first-quarter fiscal 2027 revenue of $98.1 million, down 18.4% from $120.2 million a year earlier. The decline was mainly driven by fewer billable hours as clients delayed projects and took longer to make spending decisions. Consulting revenue fell 25.8%, while On-Demand Talent revenue declined 13.2%.
Lower revenue also hurt profitability. Gross profit fell to $36.7 million from $47.5 million, while the company’s net loss widened to approximately $8.0 million, or $0.23 per diluted share, from $2.4 million, or $0.07 per share, a year earlier.
The company said it continued cost-cutting efforts during the quarter, including workforce reductions and other restructuring actions.
Trading Metrics, Technical Analysis
Resources Connection has a market capitalization of approximately $128.05 million.
Over the past year, Resources Connection shares have fallen 24.44%.
The stock has traded between a 52-week high of $5.37 and a 52-week low of $3.06.
Benzinga’s Edge Stock Rankings show a negative price trend across short-, medium- and long-term time frames.
Price Action: In the regular session, Resources Connection shares rose 1.36% to close at $3.74 on Wednesday.
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