Key Highlights

● Third-quarter Revenue before reimbursable expenses rose 11.6% to $482.5 million.

● Adjusted diluted EPS rose 24.8% to $2.62.

● Adjusted EBITDA was $77.3 million, or 16.0% of revenue.

● The company repurchased about 172,865 shares for $26.3 million.

Huron Consulting Group Inc. (NASDAQ:HURN) is drawing attention after announcing third-quarter 2026 results on November 3 and a larger share repurchase authorization on October 29. The consulting firm raised the midpoint of its 2026 adjusted Earnings guidance, while market data noted that the stock dropped despite results in line with expectations. The combination of Capital return, healthcare-led growth and a narrowed revenue range gives investors several items to weigh.

Latest Company Context

For the quarter ended September 30, 2026, Huron reported revenue before reimbursable expenses of $482.5 million, up 11.6% from $432.4 million, with organic growth of 6.7%. Healthcare revenue was $255.8 million, up 16.5%, Education was $138.0 million, up 6.6%, and Commercial was $88.8 million, up 6.4%. Net Income was $28.4 million versus $30.4 million, including a $5.9 million non-cash Credit loss on a convertible Debt Investment in a third party. Diluted EPS was $1.75, and adjusted diluted EPS was $2.62, up 24.8%. Adjusted EBITDA was $77.3 million, or 16.0% of revenue. The company repurchased about 172,865 shares for $26.3 million in the quarter.

Key Business and index Drivers

Huron's 2026 guidance now calls for revenue before reimbursable expenses of $1.855 billion to $1.885 billion, with the midpoint affirmed and the range narrowed, adjusted EBITDA Margin of 14.5% to 15.0%, and adjusted diluted EPS of $9.20 to $9.40, with the midpoint raised to $9.30. These are management expectations. The gap between 11.6% reported growth and 6.7% organic growth shows that acquisitions contributed meaningfully. On October 29, the board raised the buyback authorization from $900 million to $1.1 billion and extended it through December 31, 2028, signaling a longer capital return runway. Healthcare, the largest and fastest-growing segment, is the principal operating driver.

What Investors Should Watch

The fourth-quarter report, which would complete the guided year, is the next catalyst; investors may watch whether results land within the revenue range and near the adjusted EPS midpoint of $9.30. Segment trends may be informative, especially whether Healthcare continues growing faster than Education and Commercial. The pace of repurchases under the enlarged authorization and the integration of acquired businesses are additional items. Another is the non-cash credit loss tied to a third-party convertible debt investment, which investors may want to follow for any further charges. Healthcare provider finances and higher education budgets could potentially influence client demand.

Investors may also look at the relationship between adjusted EBITDA margin of 16.0% in the third quarter and the 14.5% to 15.0% full-year guide, which reflects seasonality across quarters. The larger authorization of $1.1 billion through 2028 gives management flexibility, but actual repurchases will depend on cash generation and Acquisition opportunities. The reported $0.36 per share effect from the credit loss shows how a single non-operating item can shift GAAP earnings relative to adjusted results.

Analysts commonly focus on the adjusted measures, though differences between them and GAAP are worth examining in the reconciliation tables. Investors may also review the 10-Q for details on acquisitions, headcount and utilization, which help explain how organic growth of 6.7% translated into adjusted EBITDA growth of 14.7%, and for the company's Liquidity position and debt levels.

Buyback Expansion Backs Raised Guidance

Huron's third quarter combined double-digit revenue growth, higher adjusted profitability and a raised earnings midpoint, with a larger buyback authorization announced days earlier. How consulting Demand and capital deployment evolve may shape sentiment going forward.