Core Viewpoint - FTI Consulting has appointed Charlie Armitstead as Senior Managing Director and UK Head of Capital Markets, aiming to enhance its strategic communications segment and drive growth in the UK and internationally [1][4]. Company Overview - FTI Consulting, Inc. is a global business advisory firm with over 8,000 employees in 33 countries, focusing on helping organizations manage change, mitigate risk, and resolve disputes [6]. - The company generated $3.49 billion in revenues during fiscal year 2023 [6]. Appointment Details - Charlie Armitstead brings over 25 years of experience in capital markets and financial communications, previously leading the Financial Communications practice at Teneo [2]. - He co-founded Pendomer Communications in 2011, which was sold to Teneo in 2016 [2]. - Armitstead has a history with FTI Consulting, having started his career there in 1999 and worked in various locations including London, New York, and Washington, D.C. [3]. Strategic Impact - His appointment is expected to strengthen FTI Consulting's capabilities in advising large organizations during critical growth moments [4]. - John Waples, EMEA Chair and UK Head for Strategic Communications at FTI Consulting, highlighted Armitstead's impressive track record with landmark transactions and high-profile situations as invaluable for the firm's growth trajectory [5].

HONG KONG, May 06, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced the appointment of Roy Huang as the Head of Asia & Caribbean, effective 3 May 2024. Based in Hong Kong, Mr. Huang will have executive responsibility for driving growth across the region through strengthening the firm's core service capabilities and bringing the firm's collective expertise to clients. Mr. Huang also will reinforce the Business Transformation practice in Asia, as well as relationships with private equi ...

WASHINGTON, May 01, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced the appointment of economics and litigation expert Bryan Perry as a Senior Managing Director in the Center for Healthcare Economics and Policy within the firm's Economic Consulting segment. Mr. Perry has more than a decade of experience working in antitrust and healthcare markets, specializing in economic analysis for complex commercial litigation matters. In his role at FTI Consulting, Mr. Perry will conduct cuttin ...

Exhibit 99.1 EDITED TRANSCRIPT FCN.N - Q1 2024 FTI Consulting Inc Earnings Call EVENT DATE/TIME: APRIL 25, 2024 / 1:00PM GMT OVERVIEW: Company Summary APRIL 25, 2024 / 1:00PM, FCN.N - Q1 2024 FTI Consulting Inc Earnings Call CORPORATE PARTICIPANTS Ajay Sabherwal FTI Consulting, Inc. - CFO Mollie Hawkes FTI Consulting, Inc. - VP of IR & Communications Andrew Owen Nicholas William Blair & Company L.L.C., Research Division - Analyst James Edwin Yaro Goldman Sachs Group, Inc., Research Division - Research Analy ...

FTI Consulting, Inc. (FCN) reported impressive first-quarter 2024 results, with both earnings and revenues beating the Zacks Consensus Estimate. The stock has gained 2% since the earnings release on Apr 25, in response to the better-than-expected results. Shares have gained 18.8% in the past year, outperforming the 16.3% rally of the industry it belongs to. Quarterly earnings per share of $2.23 surpassed the Zacks Consensus Estimate by 26.7% and increased 66.4% on a year-over-year basis. Total revenues of $ ...

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 ...

Financial Performance - Revenues for Q1 2024 increased by $121.8 million, or 15.1%, to $928.6 million compared to Q1 2023, driven by increased demand across all business segments and higher realized bill rates [86]. - Net income for Q1 2024 rose by $32.4 million, or 68.2%, to $80.0 million compared to Q1 2023, attributed to higher revenues and a lower effective tax rate [87]. - Adjusted EBITDA for Q1 2024 increased by $32.6 million, or 41.6%, to $111.1 million, with an Adjusted EBITDA Margin of 12.0% compared to 9.7% in Q1 2023 [88]. - Earnings per diluted share (EPS) for Q1 2024 increased by $0.89 to $2.23 compared to $1.34 in Q1 2023, primarily due to higher net income [89]. - Total revenues for the three months ended March 31, 2024, increased by $121.8 million, or 15.1%, to $928.6 million compared to $806.7 million for the same period in 2023 [96]. - Net income for the three months ended March 31, 2024, was $79.965 million, representing an increase of $32.418 million, or 68.2%, from $47.547 million in the prior year [96]. - Adjusted EBITDA for the three months ended March 31, 2024, was $111.073 million, up $32.646 million, or 41.6%, from $78.427 million in the same period of 2023 [97]. Cash Flow and Operating Activities - Net cash used in operating activities for Q1 2024 increased by $20.6 million to $274.8 million compared to $254.2 million in Q1 2023, mainly due to higher salaries and annual bonus payments [91]. - Free Cash Flow was an outflow of $279.5 million in Q1 2024 compared to $272.2 million in Q1 2023, primarily due to higher net cash used in operating activities [92]. - Net cash used in operating activities increased by $20.6 million, or 8.1%, to $274.8 million for the three months ended March 31, 2024, compared to $254.2 million for the same period in 2023 [141]. - Net cash provided by investing activities was $20.6 million for the three months ended March 31, 2024, a significant increase of $38.6 million, or 214.4%, from a net cash used of $18.0 million in the same period of 2023 [142][143]. - Net cash provided by financing activities surged to $198.6 million for the three months ended March 31, 2024, an increase of $182.8 million, or 1,159.5%, compared to $15.8 million in the prior year [144]. Employee and Workforce Metrics - Total number of employees increased to 8,055 in Q1 2024 from 7,794 in Q1 2023, reflecting a growth in workforce [85]. - The number of revenue-generating professionals increased to 6,366 as of March 31, 2024, a rise of 3.1% from 6,186 in the prior year [110]. - The number of revenue-generating professionals increased across segments, with a total of 1,463 professionals in one segment, reflecting a 2.5% increase year-over-year [1]. Segment Performance - Corporate Finance segment revenues increased by $50.4 million, or 16.0%, to $366.0 million for the three months ended March 31, 2024 [113]. - FLC segment revenues rose by $18.3 million, or 11.6%, to $176.1 million for the three months ended March 31, 2024 [117]. - Revenues for the Technology segment increased by $10.1 million, or 11.1%, to $100.7 million, primarily due to higher demand for M&A-related services [125]. - Revenues for the Strategic Communications segment increased by $8.1 million, or 11.1%, to $81.2 million, with a 1.4% positive impact from foreign exchange [130]. Expenses and Profitability - Unallocated corporate expenses increased by $4.8 million, or 13.8%, to $39.5 million for the three months ended March 31, 2024 [101]. - Interest expense decreased by $1.2 million, or 41.5%, to $1.7 million for the three months ended March 31, 2024, compared to $2.9 million in the prior year [104]. - The income tax provision increased by $4.6 million, or 30.4%, to $19.5 million for the three months ended March 31, 2024, with an effective tax rate of 19.6% [105]. - SG&A expenses rose by $7.2 million, or 28.7%, to $32.2 million, representing 15.8% of revenues for the three months ended March 31, 2024 [123]. - SG&A expenses in the Technology segment increased by $1.0 million, or 3.9%, to $25.7 million, accounting for 25.5% of revenues [127]. - SG&A expenses in the Strategic Communications segment rose by $1.2 million, or 7.2%, to $17.7 million, representing 21.8% of revenues [132]. Cash and Capital Management - As of March 31, 2024, the company had $244.0 million in cash and cash equivalents and an available borrowing capacity of $695.0 million under its $900.0 million revolving line of credit [146]. - Future capital expenditures for 2024 are expected to range between $28 million and $34 million, excluding potential acquisitions [150]. - The company anticipates long-term obligations of $205.0 million related to outstanding borrowings under its Credit Facility as of March 31, 2024 [151]. - The company plans to use future capital primarily for operating expenses, capital expenditures, and potential acquisitions [149]. - The company remains in compliance with the covenants of its Credit Facility as of March 31, 2024 [148]. Operational Efficiency - Days sales outstanding (DSO) increased to 105 days in Q1 2024 from 102 days in Q1 2023, indicating cash collections did not keep pace with higher revenues [91]. - Days Sales Outstanding (DSO) increased to 105 days as of March 31, 2024, compared to 102 days in the same period of 2023 [141]. - The increase in net income was partially offset by higher direct compensation expenses and increased selling, general and administrative expenses [87]. - The company reported a 5.0% increase in non-billable headcount, contributing to higher compensation costs [87].