WASHINGTON, April 29, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced the appointment of Beji Varghese as a Senior Managing Director within the firm's Financial Services practice. His appointment strengthens FTI Consulting's consumer finance presence in Charlotte and the Southeast region. Mr. Varghese joins FTI Consulting with more than 25 years of consumer finance experience as both a consultant and industry executive. He has addressed the industry's most critical issues, including ...

Financial Data and Key Metrics Changes - First quarter 2024 revenues reached $928.6 million, an increase of $121.8 million or 15.1% year-over-year [39][40] - Earnings per share rose to $2.23, up $0.89 from $1.34 in the prior year quarter, reflecting a 66.4% growth [83] - Net income increased to $80 million compared to $47.5 million in the prior year quarter [40] - SG&A expenses were $201.9 million, representing 21.7% of revenues, down from 22.8% in the prior year quarter [40] Business Line Data and Key Metrics Changes - Corporate Finance & Restructuring revenues increased 16% to $366 million, driven by double-digit growth across Restructuring, Business Transformation, and Strategy and Transactions [55] - Forensic and Litigation Consulting (FLC) revenues rose 11.6% to $176.1 million, primarily due to higher demand for investigations and dispute services [57] - Economic Consulting revenues grew 20.6% to $204.5 million, supported by increased demand for non-M&A-related antitrust and Financial Economic Services [58] - Strategic Communications revenues increased 11.1% to $81.2 million, driven by higher demand for public affairs and corporate reputation services [60] Market Data and Key Metrics Changes - Growth was observed in all four regions, with North America and EMEA both achieving double-digit revenue growth year-over-year [79] - The restructuring market showed strength, with the company gaining market share, although the overall market conditions were robust for multiple players [68][69] Company Strategy and Development Direction - The company is focused on expanding its service portfolio and investing in adjacent markets related to its core competencies [7] - Management emphasized the importance of long-term investments and building strong client relationships over short-term quarterly results [50][51] - The company is monitoring legislative changes that could impact its non-compete agreements, which are crucial for protecting investments in talent [73][121] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's competitive position and the potential for continued growth despite market fluctuations [21][78] - The company is not revising its guidance despite a strong quarter, indicating a cautious approach to future expectations [49][64] - The leadership team is committed to ongoing evaluations of strategies and investments to adapt to changing market conditions [130] Other Important Information - The effective tax rate for the first quarter was 19.6%, lower than the previous year's 24%, primarily due to decreased foreign taxes [54] - The company experienced revenue deferrals that may positively impact adjusted EBITDA by approximately $6 million later in the year [59] Q&A Session Summary Question: Strength of the restructuring environment - Management noted that the restructuring business was stronger than expected, with both market conditions and the company's share gains contributing to this strength [68][69] Question: Impact of non-compete legislation - Management is monitoring the potential impacts of new legislation on non-compete agreements, emphasizing the importance of these agreements for protecting investments in senior talent [72][121] Question: Expectations for SG&A percentage and investments - Management indicated that SG&A expenses are typically proportional to headcount, and significant investments may not lead to economies of scale [104][125] Question: Economic Consulting margins and revenue deferrals - Management clarified that the first quarter's margins were impacted by revenue deferrals and other one-time items, and they do not expect these conditions to persist [106][128] Question: Future growth in Business Transformation and Strategy - Management stated that the Business Transformation and Strategy segments are not highly sensitive to interest rates, and growth may depend on the timing of new matters [112][134]

Financial Performance - Revenues for Q1 2024 reached $928553 thousand, a 04% increase compared to Q4 2023 and a 151% increase compared to Q1 2023[14] - Net income for Q1 2024 was $79965 thousand, a 20% decrease compared to Q4 2023 but a significant 682% increase compared to Q1 2023[14] - Adjusted EBITDA for Q1 2024 was $111073 thousand, a 128% decrease compared to Q4 2023 but a 416% increase compared to Q1 2023[14] - Adjusted EBITDA Margin for Q1 2024 was 120%, compared to 138% in Q4 2023 and 97% in Q1 2023[14] Segment Results - Corporate Finance & Restructuring revenues for Q1 2024 were $366010 thousand, a 01% increase compared to Q4 2023 and a 160% increase compared to Q1 2023[14] - Forensic and Litigation Consulting revenues for Q1 2024 were $176074 thousand, a 64% increase compared to Q4 2023 and a 116% increase compared to Q1 2023[14] - Economic Consulting revenues for Q1 2024 were $204548 thousand, a -07% decrease compared to Q4 2023 but a 206% increase compared to Q1 2023[14] - Technology revenues for Q1 2024 were $100713 thousand, a -02% decrease compared to Q4 2023 but a 111% increase compared to Q1 2023[14] - Strategic Communications revenues for Q1 2024 were $81208 thousand, a -63% decrease compared to Q4 2023 but a 111% increase compared to Q1 2023[14] Cash Flow and Capital Allocation - Net cash used in operating activities for the three months ended March 31, 2024, was $(274818) thousand, compared to net cash provided by operating activities of $382986 thousand for the three months ended December 31, 2023, and net cash used in operating activities of $(254206) thousand for the three months ended March 31, 2023[10] - Free Cash Flow for Q1 2024 was $(279459) thousand, compared to $376708 thousand in Q4 2023 and $(272239) thousand in Q1 2023[10] Regional Performance - North America revenues for Q1 2024 were $616034 thousand, a 54% increase compared to Q4 2023 and a 171% increase compared to Q1 2023[28] - EMEA revenues for Q1 2024 were $252179 thousand, a -85% decrease compared to Q4 2023 but a 133% increase compared to Q1 2023[28]

FTI Consulting (FCN) reported $928.55 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 15.1%. EPS of $2.23 for the same period compares to $1.34 a year ago.The reported revenue represents a surprise of +4.93% over the Zacks Consensus Estimate of $884.91 million. With the consensus EPS estimate being $1.76, the EPS surprise was +26.70%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...

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 March 31, 2024 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 Inco ...

Wall Street analysts expect FTI Consulting (FCN) to post quarterly earnings of $1.76 per share in its upcoming report, which indicates a year-over-year increase of 31.3%. Revenues are expected to be $884.91 million, up 9.7% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its earnings, it is ...

FTI Consulting (FCN) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The power o ...

FTI Consulting (FCN) has had an impressive run over the past six months, gaining 8.3%.FCN has an impressive Growth Score of A. This style score condenses all the essential metrics from the company’s financial statements to get a true sense of the quality and sustainability of its growth.FTI Consulting’s earnings for 2024 and 2025 are both anticipated to grow 6% year over year. Revenues are expected to rise 5.7% year over year in 2024 and 12.8% in 2025.Factors That Auger WellFCN’s ability to club diverse iss ...

WASHINGTON, April 11, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced that it will release financial results for the first quarter ended March 31, 2024 before the New York market opens on Thursday, April 25, 2024. A conference call will be held to discuss these financial results on Thursday, April 25, 2024, at 9:00 a.m. Eastern Time and will be hosted by senior management. The conference call will be simulcast live on the Internet and can be accessed by logging onto the Company's in ...

VioletaStoimenova/E+ via Getty Images Investment thesis Growth with low risk is a description that captures the essence of FTI Consulting, Inc. (NYSE:FCN). The company works with many large and prominent clients in the legal, banking, Fortune 100, and private equity firms. Since going public in 1996, its share price has grown 24-fold in 28 years. It has the competitive advantages, financial resources, and strategy to continue that growth. Based on those elements, I rate FTI a Buy. About FTI The company ...