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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 has appointed Lauren Crawford Shaver as the Senior Managing Director and Head of Healthcare & Life Sciences for the Americas. With a strong background in public affairs and healthcare policy, she aims to enhance the firm's capabilities in managing public policy, regulatory, and reputational risks. Previously, she held significant roles within government and political campaigns, including as Deputy Assistant Secretary for Public Affairs during the Obama administration. Her expertise is expected to strengthen service delivery for clients navigating complex challenges in the healthcare sector.
FTI Consulting (NYSE: FCN) has expanded its FTI Capital Advisors division by adding Rod Rivera, David Baker, and Roger Kahn as Senior Managing Director and Managing Directors, respectively. They bring extensive experience in healthcare M&A and financing transactions, having closed deals across various healthcare sectors valued at over $30 billion. The new team will enhance FTI's advisory capabilities in healthcare, supported by a robust network of over 250 health solutions professionals. This strategic addition aims to deliver a seamless client experience in navigating complex healthcare transactions.
FTI Consulting (NYSE: FCN) announced the appointment of three senior professionals to enhance its Financial Services capabilities within the Forensic and Litigation Consulting segment. Newly appointed Senior Managing Director Marshall Schlimer, and Managing Directors Peter Schablik and Debra Bonosconi bring decades of expertise in audit, risk management, and compliance. These strategic hires aim to address evolving client needs in risk management amidst increasing regulations and external threats, showcasing FTI's commitment to expanding its expert team to support clients effectively.
FTI Consulting, Inc. (NYSE: FCN) has appointed Linda Birta-Mammet as Treasurer, effective December 1, 2022. She has over 15 years of finance and treasury experience and previously held key roles at J.P. Morgan Chase, ABB, and Siemens. Birta-Mammet will oversee FTI's global Treasury function, managing cash, debt, and investments. She expressed enthusiasm about leading the treasury team to support organizational growth. In fiscal year 2021, FTI Consulting generated $2.78 billion in revenues.
FTI Consulting released findings from its annual survey of corporate legal departments, revealing that 79% of chief legal officers are facing increased risk and demand, up from 60% last year. The study identified significant pressures across areas such as ESG, regulatory compliance, and data privacy. Notably, 40% of respondents cited regulatory changes and geopolitical uncertainty as major risks. Additionally, concerns over AI and emerging data sources are rising, with many feeling unprepared to address these challenges. The report aims to aid legal departments in navigating these complex issues.
FTI Consulting (NYSE: FCN) announced a $400 million increase in its stock repurchase program, bringing total authorization to $501 million. As of November 30, 2022, approximately 11.3 million shares had been repurchased at an average price of $70.93, costing around $799 million. The company has no set timeline for the program's completion, which may be adjusted or halted as deemed necessary by management. This strategic move aims to enhance shareholder value while providing flexibility in execution based on market conditions.
FTI Consulting launches its Technology segment in Switzerland, enhancing its footprint in the DACH region. Appointing investigations expert Jerry Lay as Senior Managing Director, the firm aims to capitalize on opportunities in data governance and compliance amid rising regulatory pressures. Lay brings over 15 years of experience and will collaborate with local leaders to support clients in technology, finance, and other sectors. Additionally, FTI Technology expands its partnership with Relativity to enhance cloud-based e-discovery solutions in Switzerland.
FTI Consulting reported third quarter 2022 revenues of $775.9 million, marking a 10.5% year-over-year increase. Excluding foreign currency impacts, revenues rose by 14.8%. EPS also increased to $2.15, up 9.7% from $1.96 in the previous year.
The firm narrowed its full-year 2022 revenue guidance to between $2.965 billion and $3.025 billion and EPS to $6.40 to $6.80. Cash provided by operations declined to $128.3 million compared to $196.9 million in Q3 2021.
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