Financial Performance - Revenue for Q2 2024 was $949.2 million, up 9.8% year-over-year from $864.6 million[38]. - Adjusted EBITDA increased by 15.7% year-over-year, reflecting strong performance across all segments, particularly in corporate finance and restructuring, economic consulting, and technology[17]. - Net income rose to $83.9 million, compared to $62.4 million in the prior year quarter, driven by higher revenues and a lower effective tax rate[38]. - Adjusted segment EBITDA for the quarter was $66.5 million, representing 19.1% of segment revenues, compared to 14.3% in the prior year quarter[40]. - Adjusted segment EBITDA for Q2 2024 was $115.9 million, representing 12.2% of revenues, an increase from $100.2 million or 11.6% in the prior year quarter[63]. - Free cash flow for the quarter was $125.2 million, with total debt net of cash at negative $166.4 million as of June 30, 2024[73]. - The company reported a revenue increase of 15% year-over-year, reaching $1.2 billion in Q3 2023[132]. - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting $1.32 billion[132]. Tax and Expenses - Effective tax rate for Q2 2024 was 18.2%, down from 26.7% in the prior year quarter, with an expected full-year rate of 20% to 22%[37]. - SG&A expenses were $206.2 million, accounting for 21.7% of revenues, compared to 21.6% in the prior year quarter[18]. - The effective tax rate for Q2 2024 was 18.2%, down from 26.7% in the prior year quarter, primarily due to favorable tax adjustments related to share-based compensation[63]. - Cash levels increased by $23 million quarter-on-quarter, with less interest expense compared to the same period last year[110]. - Cost-cutting measures implemented resulted in a 5% reduction in operational expenses, saving $10 million[132]. Revenue Growth by Segment - Business transformation and strategy revenues grew by 24% year-over-year, while transaction revenues increased by 13%[41]. - Economic consulting segment revenues reached a record $230.9 million, increasing by 14.4% year-over-year, driven by higher demand for M&A-related antitrust services[67]. - Technology segment revenues increased by 18.9% year-over-year to $115.9 million, primarily due to higher demand for M&A-related second request services[69]. - Corporate finance and restructuring revenues decreased by $18 million (4.9%) sequentially, impacted by a 13% decline in restructuring revenues[41]. Headcount and Talent Acquisition - Billable headcount increased by 103 professionals (1.7%) year-over-year, while non-billable headcount rose by 81 professionals (5%)[19]. - The company announced 19 senior managing director hires, with an additional 15 expected to join soon[12]. - The company plans to welcome over 300 campus hires in the second half of the year, indicating a focus on talent acquisition[51]. - The hiring strategy involves lateral hires, with a productivity curve indicating losses in the first year, breakeven in the second, and profitability in the third year[98]. - The company aims for mid to high single-digit growth in headcount over the long term, which is expected to positively impact revenue growth[127]. - The management emphasizes the importance of building a strong talent pool to support future growth[130]. Strategic Initiatives - Revenue guidance for 2024 has been raised to a range of $3.70 billion to $3.79 billion, up from the previous range of $3.65 billion to $3.79 billion[49]. - Earnings per share (EPS) guidance has also been revised upwards to a range of $8.10 to $8.60, compared to the previous range of $7.75 to $8.50[49]. - The company plans to pay down its small revolver and maintain sufficient capital for organic growth investments[90]. - The company has tough filters for acquisitions and will act opportunistically when the right opportunities arise[90]. - The company plans to enter two new international markets by Q2 2024, aiming for a 15% revenue contribution from these markets[132]. - The company announced a strategic acquisition of a tech startup for $100 million to bolster its product offerings[132]. Customer and Market Insights - User data showed a growth of 25% in active users, totaling 5 million by the end of the quarter[132]. - New product launches contributed to a 20% increase in sales, with the latest product generating $200 million in its first month[132]. - Market expansion efforts have led to a 30% increase in market share in the Asia-Pacific region[132]. - Customer satisfaction ratings improved by 10% following the implementation of new service protocols[132]. Economic Outlook - The company expects restructuring levels to remain consistent with Q2 levels for the remainder of the year[124]. - There is a consensus among rating agencies that speculative debt default rates are not expected to rise[113]. - There is a focus on using cash wisely to create long-term value, avoiding unnecessary expenditures[91]. - Economic consulting segment showed strong revenue growth, with EBITDA margins remaining high despite competitive pressures[100].

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. FTI Consulting (FCN) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank. While there are numerous reasons why the stock of this business advisory firm is a great growth pick right now, we have highlighted three of the most import ...

Core Viewpoint - The Zacks Style Scores are designed to assist investors in selecting stocks with the highest potential to outperform the market over the next 30 days [1] Group 1: Zacks Style Scores Overview - The Style Scores are categorized into four types: Value, Momentum, Growth, and VGM (Value, Growth, Momentum) [2][12] - The Value Style Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [2] - The Momentum Style Score helps investors capitalize on price trends by analyzing short-term price changes and earnings estimate revisions [3] Group 2: Zacks Rank and Performance - The Zacks Rank is a proprietary stock-rating model that leverages earnings estimate revisions to guide investors in portfolio creation [4] - Stocks rated 1 (Strong Buy) have historically produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [13] - A stock's earnings estimate revisions are crucial when selecting which stocks to invest in, as they indicate potential future performance [14] Group 3: FTI Consulting (FCN) Analysis - FTI Consulting (FCN) is highlighted as a stock to watch, currently holding a 1 (Strong Buy) rating on the Zacks Rank and a VGM Score of B [15][23] - FCN is projected to achieve year-over-year earnings growth of 10% for the current fiscal year, appealing to growth investors [9] - Recent analyst revisions have increased FCN's earnings estimate for fiscal 2024 by $0.26 to $8.48 per share, with an average earnings surprise of 29.6% [16] Group 4: Company Profile - Founded in 1982 and based in Baltimore, Maryland, FTI Consulting is a global business advisory firm with over 7,990 employees [17] - The company provides specialized consulting services across 57 countries, serving a significant portion of Fortune 500 companies and major financial institutions [17] - FTI Consulting operates in five main business segments: Corporate Finance and Restructuring, Forensic and Litigation Consulting, Strategic Communications, Technology, and Economic Consulting [17]

FTI Consulting, Inc. (NYSE:FCN) Q2 2024 Results Conference Call July 25, 2024 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 - Truist Securities James Yaro - Goldman Sachs Andrew Nicholas - William Blair Operator Good day. And welcome to the FTI Consulting Second Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mod ...

FTI Consulting (FCN) came out with quarterly earnings of $2.34 per share, beating the Zacks Consensus Estimate of $1.96 per share. This compares to earnings of $1.75 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 19.39%. A quarter ago, it was expected that this business advisory firm would post earnings of $1.76 per share when it actually produced earnings of $2.23, delivering a surprise of 26.70%. Over the last four quarter ...

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 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) (I.R.S. Employer Id ...

WASHINGTON, July 22, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced the appointment of David Schiff as a Senior Managing Director in the Financial Services practice within the firm's Corporate Finance & Restructuring segment. "The financial services industry is facing economic and regulatory pressures not seen in decades that are transforming fundamental day-to-day operations and forcing institutions to make strategic changes," said Dave Messinger, a Senior Managing Director in the ...

WASHINGTON, July 18, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Rachel Hall as a Senior Managing Director in the Healthcare Business Transformation practice within the firm's Corporate Finance & Restructuring segment, building on the firm's investment in its Digital Health and Transformation capabilities. Ms. Hall, who is based in Denver, joins with more than 25 years of experience in healthcare transformations, digital strategy and customer experience withi ...

WASHINGTON, July 17, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of William Perlstein as Global Segment Leader of the Forensic and Litigation Consulting segment at FTI Consulting. He also will join the firm's global Executive Committee. Mr. Perlstein is an accomplished law firm practitioner, practice leader and firm managing partner, and has served as a senior executive at a globally significant bank. Since joining FTI Consulting as a Senior Managing Director an ...

WASHINGTON, July 15, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) projects that U.S. online retail sales will reach $1.2 trillion in 2024, an increase of nearly 10% from last year, according to the firm's 2024 Online Retail Report. "E-commerce in the U.S. is in a maturing phase as it returns to pre-pandemic normalcy, but it continues to capture market share, primarily from store-based retailers," said J.D. Wichser, a Senior Managing Director and Leader of the Retail & Consumer Products practice ...