CRA International's 2025Q2 Earnings Call: Unpacking Contradictions in M&A Regulations, Hiring Strategies, and Talent Retention

M&A regulatory needs and administrative impact, hiring and staffing strategy, talent retention and market dynamics, Antitrust & Competition Economics practice growth, and headcount and hiring strategy are the key contradictions discussed in CRA International's latest 2025Q2 earnings call.



Revenue Growth and Strategic Initiatives:
- CRA International (CRAI) reported revenue of $186.9 million for Q2 2025, up 9% year-over-year.
- The growth was driven by 7 of 11 practices growing year-over-year, including Antitrust & Competition Economics, Energy, and Labor & Employment, which posted double-digit revenue growth.

Antitrust & Competition Economics Performance:
- The Antitrust & Competition Economics practice achieved a new high for quarterly revenue, supported by ongoing merger-related activity and strong demand for Antitrust services.
- This was attributed to high-profile mergers and expert testimony work, such as supporting Hewlett Packard Enterprises and Juniper Networks in their successful $14 billion merger.

Energy Practice Demand and Scaling:
- Revenue for the energy practice increased roughly 5% year-over-year, driven by strong demand for utility strategy and capital investment planning.
- The practice is expanding organically through grassroot efforts, including senior hires and internal promotions, and is exploring inorganic opportunities to maintain strategic fit.

Talent and Staffing Strategy:
- CRA welcomed more than 50 new consultants and achieved consultant utilization of 76%, improving year-over-year.
- The strategy focuses on hiring for growth opportunities, maintaining a flat overall headcount while expanding in practices with strong performance, and managing attrition through competitive compensation and benefits.