WASHINGTON, Jan. 31, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) and global legal technology company Relativity today announced findings from part two of The General Counsel Report. The newly released study found that general counsel are placing more emphasis on developing technical acuity and embracing innovation than in previous years, and 75% expect to use generative artificial intelligence in the legal function in the near term. This edition of the report, which is based on a detailed surve ...

FRANKFURT, Germany, Jan. 23, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced the continued expansion of its global Aviation practice with the appointment of Frank Martin as a Senior Managing Director within the Corporate Finance & Restructuring segment. "Frank brings deep knowledge of the aviation sector and a valuable set of skills in maintenance and technical operations, which will be highly valuable to clients across a variety of projects," said Marc Bilbao, a Senior Managing Dir ...

WASHINGTON, Jan. 22, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced the findings of its 2024 Leveraged Loan Market Survey, which offers insight into bank and non-bank lenders' perspectives on the U.S. loan industry and highlights expectations for leveraged credit market conditions in the year ahead. This year's survey found cautious optimism prevails among lenders after a challenging year, with 45% of respondents believing that the probability of a U.S. recession is minor compared ...

WASHINGTON, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Chief financial officers are expecting growth over the next 12 months despite inflation remaining the top challenge, according to findings from a new survey conducted by the Office of the CFO Solutions practice at FTI Consulting Inc. (NYSE:FCN), in collaboration with CFO Dive. Nearly three-quarters (74%) of those surveyed predict double-digit growth in 2024, with 33% predicting growth over 30%. The survey polled the views of more than 375 senior finance executiv ...

All numbers in $000s, except for per share data and percentages | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------|-------|----------------------------------------|-------|-----------------------------------------|-------|------------------------|-------|------------|-------|-----------------------------|--------------------------|--------------|---------| | | | Corporate Finance & \nRestructuring | | Forensic and Litigation \nConsultin ...

FTI Consulting, Inc. (NYSE:FCN) Q3 2023 Earnings Conference Call October 26, 2023 9:00 AM ET Company Participants Mollie Hawkes - VP, IR and Communications Steve Gunby - President and CEO Ajay Sabherwal - CFO Conference Call Participants James Yaro - Goldman Sachs Tobey Sommer - Truist Andrew Nicholas - William Blair Operator Welcome to the FTI Consulting Third Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please also note that this event is b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-14875 FTI CONSULTING, INC. (Exact Name of Registrant as Specified in its Charter) Maryland 52-1261113 (State or Other Jurisdiction of ...

Financial Data and Key Metrics Changes - The company reported a 14.5% revenue growth for the quarter, with record revenues of $864.6 million, up from $755 million in the prior-year quarter [33][34] - Net income increased by 21.3% to $62.4 million, compared to $51.4 million in the prior-year quarter [34] - Adjusted EBITDA rose by 31.6% to $100.2 million, representing 11.6% of revenues, compared to 10.1% in the prior-year quarter [35][33] - Earnings per share (EPS) increased to $1.75 from $1.43 in the prior-year quarter [34] Business Line Data and Key Metrics Changes - Corporate Finance & Restructuring revenues increased by 8.4% to $300.4 million, driven by higher demand for restructuring services, which grew by 32% year-over-year [70][71] - The FLC segment saw revenues of $182.2 million, a 10.9% increase, primarily due to higher demand for investigations and data analytics services [39] - Economic Consulting revenues increased by 23% to $201.8 million, attributed to higher realized bill rates and increased demand for antitrust services [40] - Technology segment revenues grew by 25.3% to $97.4 million, driven by demand for investigations and litigation services [75] Market Data and Key Metrics Changes - The company experienced a 6.7% total attrition rate in the first half of 2023, down from 9.9% in the same period of 2022, indicating improved talent retention [79] - Billable headcount increased by 11.3% year-over-year, with 634 new professionals added [36] - Non-billable headcount also rose by 11.8%, reflecting the company's commitment to talent acquisition despite economic uncertainties [36] Company Strategy and Development Direction - The company aims to balance short-term performance with long-term growth, emphasizing the importance of attracting and retaining top talent [5][31] - Management is focused on investing in high-demand areas, even if it negatively impacts short-term earnings, to ensure future growth [46][31] - The company is committed to maintaining a strong balance sheet, allowing for potential share buybacks and acquisitions when opportunities arise [47] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by inflation and increased costs, which have pressured margins despite revenue growth [58][79] - The company is lowering its full-year guidance due to weaker-than-expected performance in the first half, but remains optimistic about long-term growth prospects [55][63] - Management highlighted the importance of adapting to changing market conditions and maintaining a focus on client needs [88][112] Other Important Information - SG&A expenses increased to $186.4 million, representing 21.6% of revenues, primarily due to higher compensation and outside services expenses [68] - Free cash flow was an outflow of $22 million in the quarter, with total debt net of cash increasing to $137.2 million [77] Q&A Session Summary Question: Will there be G&A leverage in '23? - Management indicated that they expect G&A leverage in the second half of the year, with lower G&A compared to the first half [128] Question: How does inflation impact cost and bill rates? - Management acknowledged a mismatch between rising costs and bill rates, but noted that they are not seeing significant pressure from realization issues [103][104] Question: What is the outlook for restructuring growth? - Management expects slower restructuring growth in the second half, with moderate growth in transactions [106] Question: How will the upcoming U.S. presidential election affect business? - Management expressed uncertainty about the election's impact but emphasized their focus on attracting talent and meeting client needs regardless of external factors [116] Question: What are the dynamics in the antitrust space? - Management highlighted their strong position in antitrust consulting and anticipated increased demand due to regulatory changes [111][112]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-14875 FTI CONSULTING, INC. (Exact Name of Registrant as Specified in its Charter) Maryland 52-1261113 (State or Other Jurisdiction of Incor ...

Financial Data and Key Metrics Changes - First quarter 2023 revenues reached $806.7 million, an increase of $83.1 million or 11.5% year-over-year, with a 13.8% increase when excluding the estimated negative impact of foreign exchange [12][78] - Earnings per share (EPS) were $1.34, down from $1.66 in the prior year quarter [12] - Adjusted EBITDA for the first quarter 2023 was $78.4 million, a decrease of 13.3% compared to $90.5 million in the prior year quarter [68] Business Line Data and Key Metrics Changes - Corporate Finance & Restructuring revenues were $300 million, up 18.4% year-over-year, driven by higher demand for restructuring and business transformation services [86] - Economic Consulting revenues increased by 2.2% to $169.6 million, primarily due to higher demand for M&A-related antitrust services [87] - Forensic and Litigation Consulting (FLC) revenues rose 12.7% to $173.4 million, attributed to increased demand for data and analytics, investigations, and health solutions services [69] Market Data and Key Metrics Changes - Restructuring revenues grew 38% year-over-year, reflecting strong demand across various verticals including retail and healthcare [34] - Business transformation and transactions grew 5.5% year-over-year, although transactions specifically were down 8% [22] Company Strategy and Development Direction - The company is focused on long-term growth while being mindful of utilization rates, with a strong balance sheet allowing for organic growth, share buybacks, and acquisitions [17] - Management emphasized the importance of attracting and developing talent to support business growth, particularly in key markets like the Middle East and Europe [7][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate strong revenue growth despite short-term volatility and challenges, including FX impacts and revenue deferrals [61][82] - The outlook for restructuring activity remains positive, with expectations for a pickup in M&A activity later in the year [37][92] Other Important Information - The company repurchased $17.8 million worth of shares during the quarter, with approximately $460.7 million remaining for future buybacks [89] - Total debt net of cash increased to $122.7 million as of March 31, 2023, compared to $60.1 million a year earlier [89] Q&A Session Summary Question: What is the outlook for restructuring activity? - Management noted a sequential increase in restructuring revenues, indicating strength in both the U.S. and overseas markets [92] Question: Were there any significant timing items affecting revenue? - Management acknowledged revenue deferrals and other factors like FX and bad debt that can impact quarterly results [93] Question: How does the company view the hiring opportunities in the current market? - Management highlighted robust hiring, particularly outside the U.S., driven by the company's improved reputation and ability to attract top talent [97]