Mark Hussey: Bill, it’s Mark. We like the M&A pipeline we have. And we’ve always had a pretty picky set of opportunities that we pursue often. We’re getting to know them, sometimes working in the market together. But often, that’s a precursor for us, to move to the next step of an acquisition. We’ve looked at a lot of companies over the last year. And I would just say, we continue to look at really good opportunities that, we feel good about. I do think that tuck-in type category, but the range of size could be a little bit bigger than GG&A, right I mean and little bit smaller than that, but I think that we continue to be – obviously, you can’t time exactly when those happen. But I would expect us to be, more active through the balance of the year.
William Sutherland: Oh Good. Okay. Thanks for all the color guys. Appreciate it.
Mark Hussey: Thanks Bill,
Operator: Thank you. Our next question coming from the line of Kevin Steinke of Barrington Research Associates. Your question, please, Kevin
Kevin Steinke: Good afternoon. So you talked about some continuing caution from clients in the Commercial segment, about moving forward with digital and strategy and innovation projects. I believe on your last call, the fourth quarter call, you talked about some – seeing some signs that those areas could pick up in 2024. Is that still the case? Or do you think clients have become a little more cautious over the last three months or so here?
John Kelly: Kevin, it’s John. I’ll – we absolutely still see indications that suggest it could pick up as 2024 goes on. When we actually look at the size of the pipeline and some of the opportunities of the pipeline, we’re really encouraged by it. There are some great projects in there. And I guess the underlying theme there is, there’s a lot of need in demand for our clients for the services that we provide. I think what is ended up being a little bit of a cautionary factor or the mix signal is, I think, because of some of the general macroeconomic uncertainty that’s in the market right now. You do see clients that are just a little bit more hesitant to get a project started a little bit more deliberate in how they pace out projects and things about that.
And so that’s kind of what we’re fighting through. But in terms of the needs that are out there in the market, we definitely see that. And from our perspective, it’s really just kind of a matter of when, not a matter if in terms of that coming back, but we’re definitely going through a period right now where there’s a little bit of uncertainty.
Mark Hussey: I think as said, I think it’s the inflationary environment, the economy. But when you look at the election year, obviously, is on the lines of several our clients as well. But I think that John said it right, the pipeline is actually pretty good. It’s a more matter of how does the timing play out, with respect to specific opportunities. But we’re definitely getting our share of that and feeling good about our offerings and being competitive in the market.
Kevin Steinke: Okay. And then also on Commercial, you mentioned continued growth in financial advisory. Is that an area as hot as it has been? I know you’re going to be coming up against some more difficult comparisons here, but is that slowing at all or as strong as it’s been or strengthening? Just kind of wondering directionally how that’s trending?
John Kelly: I think it’s — so the context I’d give, Kevin, is last year, that business was really white hot in terms of demand and in terms of a record revenue sort of year. I think the growth rate has moderated or we expected to moderate from what we saw last year, but it still was a robust demand environment. There’s still a significant amount of inquiries for our services in that area. And our team is still adding quite, frankly, a significant amount of success on some of those opportunities. So, when that business is performing well, it’s really high-margin part of our portfolio, and we continue to feel very good about prospects of that business as the year goes on, even if it’s not growing at the kind of, really high rate that it was growing in 2023 in a record year.
Kevin Steinke: Okay. Thank you. And then just lastly, any – I know you reiterated the full year 2024 revenue guidance, but any change at the segment level in terms of the growth outlook in each segment that gets you to that consolidated number?
John Kelly: I think it’s probably a little too early to adjust the guidance here, Kevin. Obviously, the Healthcare business is off to a great start. Continue to feel really good about the pipeline is there. So I think that might be an area, where you could expect to see potentially a little bit of upside. In the first quarter for the Commercial segment was a little bit slower. That was more flat during the quarter. So that might be where you’d see a little bit of pressure on the growth rate. But we’ll continue to execute throughout the year, and I would anticipate by the time we get to the next call, we can refine that a little bit, but those will be maybe in broad strokes where we see a little bit of increased demand versus where it’s been a little bit softer.
Kevin Steinke: Okay. Lastly, John, I don’t know if you called out the dollar amount of the legal expenses that you don’t expect to recur after the first quarter.
John Kelly: So there’s always some level of legal expense in our SG&A. But I described, Kevin, the amount that was above and beyond will be the normal run rate a couple of million dollars.
Kevin Steinke: Okay, great. Thanks for taking the questions. Appreciate it.
John Kelly: Yes, thanks, Kevin
Operator: Thank you. [Operator Instructions] Our next question comes from the line of Moshe Katri of Wedbush Securities. Please go ahead, Moshe.
Moshe Katri: Okay, thanks. Congrats on very, very strong results. I believe – I think Huron is the only company in the space that’s actually recruiting. So what’s embedded in terms of organic head count growth in your calendar ’24 guidance? That’s my first question? Thanks.
John Kelly: In terms of the guidance, so our revenue growth rate for the year from a projection perspective, at the midpoint guidance, it was around 10%. And the range around that was 7% to 13%. So in terms of us expanding our talent pool during the year, we’re expecting that to basically be a similar trajectory as the revenue growth. So around that 10% range.
Moshe Katri: Understood. And then the lots of questions about visibility. But then if I had to kind of look at visibility for Healthcare, Education and Commercial now versus early calendar ’24, let’s say, three months ago, has that changed, improved, got worse? How do you – how would you kind of define it?
