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FTI sulting(FCN) - 2023 Q1 - Earnings Call Transcript
2023-04-28 21:23
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]
FTI sulting(FCN) - 2023 Q1 - Quarterly Report
2023-04-26 16:00
For the quarterly period ended March 31, 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 Incorporation or Organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECUR ...
FTI sulting(FCN) - 2022 Q4 - Earnings Call Transcript
2023-02-23 19:14
FTI Consulting, Inc. (NYSE:FCN) Q4 2022 Earnings Conference Call February 23, 2023 9:00 AM ET Company Participants Mollie Hawkes – Head of Investor Relations Steven Gunby – President and Chief Executive Officer Ajay Sabherwal – Chief Financial Officer Conference Call Participants Tobey Sommer – the Truist Securities James Yaro – Goldman Sachs Andrew Nicholas – William Blair Operator Good day, and welcome to the FTI Consulting Fourth Quarter and Full Year 2022 Earnings Conference Call. All participants will ...
FTI sulting(FCN) - 2022 Q4 - Earnings Call Presentation
2023-02-23 16:03
Fourth Quarter and Full Year 2022 Earnings Conference Call This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, initiatives, projections, prospects, policies and practices, objectives, goals, commitments, strategies, future events, future revenues, future r ...
FTI sulting(FCN) - 2022 Q4 - Annual Report
2023-02-22 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 incorporat ...
FTI sulting(FCN) - 2022 Q3 - Earnings Call Transcript
2022-10-27 17:29
FTI Consulting, Inc. (NYSE:FCN) Q3 2022 Earnings Conference Call October 27, 2022 9:00 AM ET Company Participants Mollie Hawkes - VP of IR Steven Gunby - President and CEO Ajay Sabherwal - CFO Conference Call Participants Andrew Nicholas - William Blair Tobey Sommer - Truist Securities Operator Good morning, everyone and welcome to the FTI Consulting Third Quarter 2022 Earnings Conference Call. [Operator Instructions] Please also note today's event is being recorded. At this time, I would like to turn the f ...
FTI sulting(FCN) - 2022 Q3 - Quarterly Report
2022-10-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, $0.01 par value FCN New York Stock Exchange 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, 2022 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 ...
FTI sulting(FCN) - 2022 Q2 - Quarterly Report
2022-07-27 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, $0.01 par value FCN New York Stock Exchange 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, 2022 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: 001-1487 ...
FTI sulting(FCN) - 2022 Q1 - Earnings Call Presentation
2022-04-28 13:24
FTI Consulting, Inc. First Quarter 2022 Earnings Conference Call April 28, 2022 2 Cautionary Note About Forward Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, initiatives, projections, prospects, policies and practices, objectives, ...
FTI sulting(FCN) - 2022 Q1 - Quarterly Report
2022-04-27 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, $0.01 par value FCN New York Stock Exchange 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, 2022 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: 001-148 ...