FTI Consulting, Inc. Q4 2025 Earnings Call Summary

Core Insights - The company achieved record results in 2025 due to its multifaceted business model, which allowed strong performances in Corporate Finance, FLC, and Stratcom to offset approximately $100 million in adjusted EBITDA headwinds from Tech and Economic Consulting [1] Corporate Finance - The Corporate Finance segment reached record results by transitioning from a U.S.-centric creditor restructuring practice to a global leader capable of managing large engagements such as Spirit Airlines and Wolfspeed [1] Forensic and Litigation Consulting (FLC) - The FLC segment outperformed despite regulatory enforcement shifts by remaining agile and focusing on state-level investigations and AI-related compliance work for financial institutions [1] Technology Segment - The Technology segment experienced a significant market-driven slowdown in 'second request' activity during the first half of 2025, but management's continued investment in talent allowed the business to capture a rebound in the fourth quarter [1] Strategic Communications (Stratcom) - Strategic investments in Stratcom, focusing on corporate reputation and public affairs, led to a return to growth after two years of relative slowness, validating management's belief in expert-led advisory services [1] Business Model Resilience - The firm's resilience is attributed to its 'low leverage, expert-driven' model, which thrives in market disruption and crisis situations rather than stable economic environments [1]