Huron Consulting Group Inc. (HURN) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Huron published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Huron reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Revenue here is Huron's GAAP total revenues, which include reimbursable expenses. Huron manages and guides on revenues before reimbursable expenses (RBR), $482.5 million in Q3 2026, and its segment figures are on that basis.
• Q3 2026 GAAP results include a $5.9 million non-cash credit loss on Huron's convertible debt investment in a third party, which Huron says cut diluted EPS by $0.36. Adjusted EPS excludes it.
• During Q1 2026 Huron moved some professionals and one offering between segments and capabilities. Huron says this did not change total headcount or RBR for any period, and it revised prior-period headcount to match.

Source: Huron Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Huron splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Huron's Healthcare revenue was $256 million in Q3 2026, up 16% from $220 million in Q3 2025, 52% of total revenue.
• Huron's Education revenue was $138 million in Q3 2026, up 7% from $129 million in Q3 2025, 28% of total revenue.
• Huron's Commercial revenue was $88.8 million in Q3 2026, up 6% from $83.4 million in Q3 2025, 18% of total revenue.
• Huron's Reimbursable expenses revenue was $8.9 million in Q3 2026, flat on $8.9 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Huron said:

“Based on currently available information, the company is affirming the midpoint and narrowing guidance for full year 2026 revenues before reimbursable expenses (RBR) to a range of $1.855 billion to $1.885 billion.”

“The company also anticipates adjusted EBITDA as a percentage of RBR (8) in a range of 14.5% to 15.0%, and is raising the midpoint and narrowing adjusted diluted earnings per share (8) guidance in a range of $9.20 to $9.40.”

Source: Huron Q3 2026 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the HURN forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues (including reimbursable expenses) and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Huron's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Huron reported total revenues of $491.5 million in Q3 2026, of which $482.5 million was revenues before reimbursable expenses (RBR), the figure Huron manages to and guides on. RBR rose $50.2 million, or 11.6%, from $432.4 million in Q3 2025. Healthcare was the largest segment at $255.8 million (up 16.5%), followed by Education at $138.0 million (up 6.6%) and Commercial at $88.8 million (up 6.4%). (Huron Q3 2026 release, Nov 3, 2026)

Acquisitions added $21.1 million of RBR in the quarter, and excluding them RBR grew 6.7% organically. In Healthcare, $16.7 million came from the RelateCare and AXIOM acquisitions, with stronger demand for healthcare managed services, performance improvement and financial advisory work. RelateCare, a provider of AI-enabled clinical and patient access solutions bought on June 3, 2026, added about 1,100 Managed Services professionals. (Huron Q3 2026 release, Nov 3, 2026; Huron Form 10-Q, Q3 2026, Nov 3, 2026)

Huron also splits RBR by capability. Consulting and Managed Services brought in $287.5 million (up 12.2%) and Digital $195.0 million (up 10.8%). Healthcare Managed Services RBR was $48.9 million against $25.0 million a year earlier. Over the first nine months, Healthcare made up 51% of RBR, Education 29% and Commercial 20%. (Huron Q3 2026 release, Nov 3, 2026)

Huron bills under fixed-fee, time-and-expense, performance-based, and software support, maintenance and subscription arrangements. Performance-based fees are tied to client savings or predefined outcomes, and changes in estimates of that variable consideration added $11.3 million to revenue in Q3 2025. At September 30, 2026, one Healthcare client accounted for 11.1% of Huron's combined receivables and unbilled services because Huron is not yet entitled to bill its performance-based fees, though no single client generated more than 10% of revenue. (Huron Form 10-Q, Q3 2026, Nov 3, 2026)

Huron had $327.7 million of remaining performance obligations on engagements longer than one year at September 30, 2026, and expects to recognize $33.9 million of it in 2026 and $105.3 million in 2027. In 2025 Huron served over 2,000 clients, and its 10 largest clients accounted for approximately 19% of revenues. (Huron Form 10-Q, Q3 2026, Nov 3, 2026; Huron Form 10-K, 2025, Feb 24, 2026)

Huron's GAAP diluted EPS rose to $1.75 from $1.71, while adjusted diluted EPS rose 24.8% to $2.62 from $2.10. The gap comes from items Huron adds back: amortization of intangible assets ($4.0 million), restructuring charges ($1.2 million), other losses of $4.9 million from remeasuring contingent consideration on acquisitions, transaction-related expenses ($758 thousand) and a $5.9 million unrealized loss on long-term investments, less a $2.5 million tax effect. (Huron Q3 2026 release, Nov 3, 2026)

The unrealized loss is a non-cash credit loss on Huron's convertible debt investment in a third party, which Huron says had an unfavorable $0.36 impact on diluted EPS. Huron's effective tax rate was 32.9% in the quarter, against 28.7% a year earlier and a statutory rate of 26.0%, mainly because of nondeductible expenses and tax benefits on certain foreign and capital losses that it could not recognize. (Huron Q3 2026 release, Nov 3, 2026; Huron Form 10-Q, Q3 2026, Nov 3, 2026)

Buybacks cut the share count. Diluted weighted average shares fell to 16,265 thousand from 17,794 thousand. Huron repurchased 172,865 shares for $26.3 million in Q3 2026 and 1,726,127 shares for $234.9 million over the first nine months, 10.0% of its shares outstanding at the end of 2025. On October 29, 2026 its board raised the repurchase program from $900 million to $1.1 billion and extended it through December 31, 2028. (Huron Q3 2026 release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Huron gives a full-year outlook in its release. For 2026 it narrowed RBR guidance to $1.855 billion to $1.885 billion, keeping the midpoint, and expects adjusted EBITDA of 14.5% to 15.0% of RBR. It raised the midpoint of adjusted diluted EPS guidance and narrowed the range to $9.20 to $9.40. Huron does not reconcile these non-GAAP figures to GAAP, saying it cannot predict the reconciling items. (Huron Q3 2026 release, Nov 3, 2026)

Through nine months Huron reported RBR of $1.39 billion and adjusted diluted EPS of $6.76, against $1.23 billion and $5.67 a year earlier. (Huron Q3 2026 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Huron, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Huron's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning HURN is on is HURN a buy or a sell?, what analysts expect next is on the HURN forecast, and what the company does is on the Huron Consulting Group Inc. (HURN) stock page.

Every number on this page can be traced to a document Huron published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.