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FTI Consulting, Inc. (NYSE: FCN) is a leading global business advisory firm committed to helping organizations manage change, mitigate risk, and resolve disputes. Headquartered in Washington, D.C., FTI Consulting operates with more than 8,000 professionals in 31 countries, delivering expert services across various domains.
The firm segments its operations into five critical areas:
- Corporate Finance and Restructuring: Specializes in business transformation, strategy, and restructuring services, providing solutions for optimal financial performance.
- Forensic and Litigation Consulting: Offers expertise in investigations, dispute resolution, and forensic accounting to support clients facing legal complexities.
- Economic Consulting: Delivers strategic consulting on economic issues, antitrust matters, and financial economics, aiding clients in navigating complex regulatory environments.
- Technology: Focuses on M&A-related services, litigation support, and leveraging digital tools to streamline business processes and enhance decision-making.
- Strategic Communications: Provides services in public affairs, corporate reputation management, and communication strategies to mitigate risks and strengthen client relations.
FTI Consulting serves a diverse clientele, including sectors like construction, energy, environmental, healthcare, insurance, real estate, retail, telecom, media, and technology. The majority of its revenue is generated within the United States, with the Corporate Finance segment being the largest contributor.
In recent developments, FTI Consulting has expanded its global aviation offering with the appointment of Frank Martin, enhancing their capability to navigate aviation sector challenges. The firm also focuses on digital transformation, highlighted by the appointment of Shubho Ghosh to bolster their Business Transformation practice, aiding clients in developing and implementing digital strategies for revenue growth and operational efficiency.
Financially, FTI Consulting reported a revenue increase to $3.49 billion for the year 2023, reflecting a 15.2% rise from the previous year, attributed to higher demand across all segments. The firm maintains a robust financial position with net income of $274.9 million and a steady cash flow, underpinned by strategic investments in talent and digital transformation initiatives.
FTI Consulting's commitment to delivering value extends to its private equity services, led by Jiva J. Jagtap, focusing on value creation and post-transaction strategies. The firm is also proactive in cybersecurity, addressing communication gaps between CISOs and the C-suite to enhance organizational resilience against evolving cyber threats.
For more information, visit www.fticonsulting.com or contact their investor relations team.
FTI Consulting (FCN) reported Q1 2023 revenues of $806.7 million, marking an 11.5% increase from $723.6 million in Q1 2022. When adjusted for foreign currency exchange impacts, revenues rose by 13.8%. The company's net income was $47.5 million, down from $59.3 million year-over-year, influenced by rising compensation costs, including an 11% increase in billable headcount, and higher operational expenses. The adjusted EBITDA was $78.4 million, representing 9.7% of revenues, a decrease from the previous year’s 12.5%.
FTI Consulting's cash and cash equivalents totaled $238.5 million at the end of March 2023, a decline from $491.7 million at the end of 2022. The company also repurchased 112,139 shares of common stock for approximately $17.8 million.
FTI Consulting (NYSE: FCN) has appointed Anthony Gotzis as Senior Managing Director and Jacinthe Guindon as Managing Director in its Life Sciences sector. Together, they bring over 60 years of combined experience in the life sciences industry. Gotzis, based in Philadelphia, has nearly 30 years of experience implementing transformation initiatives for operational efficiencies. Guindon, from Toronto, has over 30 years of experience in clinical development across pharmaceuticals and medical devices.
Both leaders will enhance FTI's capabilities to address pressing challenges in the life sciences, focusing on R&D, compliance, and strategic management. FTI Consulting generated $3.03 billion in revenue in fiscal 2022 and continues to support clients in navigating complex business environments.
FTI Consulting has appointed Jasper Schrijver as Senior Managing Director to lead its European human capital offering within the Corporate Finance & Restructuring segment. The announcement, made on April 19, 2023, reflects the company’s commitment to enhancing its business transformation capabilities in the EMEA region. Schrijver, who brings over 15 years of experience in human capital management and transformation, will work with a team of three professionals, further strengthening the firm's expertise in aviation and labor-intensive industries.
The addition of Schrijver and his team highlights FTI Consulting's ongoing investments in specialized aviation consulting after acquiring FTI-BOLD in February 2022. The firm's revenue reached $3.03 billion in fiscal year 2022, showcasing its strong market position.
FTI Consulting (NYSE: FCN) announced a partnership with Smarsh to enhance its Technology segment offerings in digital communications compliance and risk management. This collaboration positions FTI Technology among a select group of providers capable of delivering integrated technology solutions, particularly in response to increasing client demands for improved compliance monitoring and governance.
A recent report indicated that 63% of business leaders are concerned about rising compliance risks, with 66% planning to invest in technology solutions. The partnership will support services such as communications archiving, e-discovery, and integration with emerging data sources like Slack and WhatsApp, ultimately helping clients manage risks and compliance challenges effectively.
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