8-K
filed February 24, 2023, 6:59 PM ET
ticker FCN
CIK 0000887936
earnings
confidence high
sentiment positive
materiality 0.80
FTI Consulting reports record FY2022 revenue $3.029B; Q4 revenue up 15% YoY; guides FY2023 revenue $3.33-3.47B
FTI CONSULTING, INC
2022-FY EPS reported
$6.58
revenue$3,028,908,000
- Q4 2022 revenue $774.4M (+15% YoY); EPS $1.33 vs $1.07; Adjusted EPS $1.52 vs $1.13.
- FY2022 revenue $3.029B (+9% YoY); EPS $6.58 vs $6.65; Adjusted EPS $6.77 vs $6.76.
- Corporate Finance & Restructuring segment Q4 revenue $292.8M (+26.5% YoY); Adjusted Segment EBITDA $52.4M (17.9% margin).
- Board authorized additional $400M share repurchase; Q4 repurchased 425,016 shares at avg $153.09.
- FY2023 guidance: revenue $3.33B-$3.47B; EPS $6.80-$7.70; no expected difference between EPS and Adjusted EPS.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FTI CONSULTING, INC reported year ended December 31, 2022 results: revenue $3.029 billion, net income $235.5 million, EPS $6.58.
- Period
- year ended December 31, 2022
- Revenue
- $3.029 billion
- Net income
- $235.5 million
- EPS
- $6.58
- Result
- reported results
Exact text from the filing
For the full year 2022, revenues of $3.029 billion increased $252.7 million, or 9.1%, compared to revenues of $2.776 billion in the prior year. Excluding the estimated negative impact from foreign currency translation ("FX"), revenues increased $339.8 million, or 12.2%, compared to the prior year. The increase in revenues was primarily due to higher demand in the Corporate Finance & Restructuring, Forensic and Litigation Consulting, Technology and Strategic Communications business segments. Net income of $235.5 million compared to $235.0 million in the prior year. The increase in net income was primarily due to higher revenues, which was largely offset by higher compensation, including the impact of a 12.3% increase in billable headcount, and a 19.2% increase in selling, general and administrative ("SG&A") expenses compared to the prior year. In full year 2022, there was an $8.3 million special charge recorded in the fourth quarter related to severance and other employee-related costs.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FTI CONSULTING, INC reported quarter ended December 31, 2022 results: revenue $774.4 million, net income $47.5 million, EPS $1.33.
- Period
- quarter ended December 31, 2022
- Revenue
- $774.4 million
- Net income
- $47.5 million
- EPS
- $1.33
- Result
- reported results
Exact text from the filing
Fourth quarter 2022 revenues of $774.4 million increased $98.2 million, or 14.5%, compared to revenues of $676.2 million in the prior year quarter. Excluding the estimated negative impact from FX, revenues increased $124.3 million, or 18.4%, compared to the prior year quarter. Acquisition-related revenues contributed $3.5 million during the quarter. The increase in revenues was primarily due to higher demand across the Corporate Finance & Restructuring, Forensic and Litigation Consulting and Technology segments. Net income of $47.5 million compared to $38.2 million in the prior year quarter. The increase in net income was primarily due to higher revenues, which was partially offset by an increase in compensation, including the impact of a 12.3% increase in billable headcount, higher SG&A expenses, the aforementioned $8.3 million special charge, an increase in FX remeasurement losses and a higher effective tax rate compared to the prior year quarter. Adjusted EBITDA, which excludes the
View on SEC.gov
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