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Heidrick & Struggles International, Inc. (Nasdaq: HSII) is a global leader in providing executive search, leadership consulting, and on-demand talent solutions. Founded over 65 years ago, the company has established itself as a trusted advisor to the world’s top organizations, helping them identify, develop, and retain senior-level talent. With principal business centers in North America, Latin America, Europe, and Asia Pacific, Heidrick & Struggles operates on a global scale.
Core Services and Segments
- Executive Search: Specializes in identifying and recruiting top-tier executives across various industries, leveraging a network of over 400 consultants worldwide.
- Heidrick Consulting: Offers leadership assessment and development, organizational design, team acceleration, culture shaping, and diversity and inclusion services to help businesses build effective leadership teams.
- On-Demand Talent: Provides interim executives, project managers, and specialized consultants through the Business Talent Group (BTG), a wholly-owned subsidiary focused on meeting the immediate and short-term talent needs of clients.
Recent Achievements and Projects
In recent quarters, Heidrick & Struggles has demonstrated robust financial performance, marked by notable acquisitions that have expanded its service offerings. The acquisition of Atreus Group strengthened their On-Demand Talent segment, while businessfourzero enhanced their Heidrick Consulting capabilities. These strategic moves have contributed to sequential revenue growth, particularly in the Americas and Europe.
Financial Highlights
For the second quarter of 2023, the company reported consolidated net revenue of $271.2 million, a 13.3% increase from the previous quarter. Adjusted EBITDA grew 33% to $36.4 million, with an adjusted EBITDA margin of 13.4%. Despite global economic uncertainties, Heidrick & Struggles continued to invest in digital capabilities to better serve their clients.
Strategic Outlook
Looking forward, Heidrick & Struggles aims to leverage its One Heidrick strategy, which integrates executive search, on-demand talent, and consulting services to provide comprehensive leadership solutions. Their focus on innovation and technology, particularly through the Heidrick Navigator SaaS product, is expected to drive future growth and enhance client services.
Heidrick & Struggles International reported record net revenue of $298.7 million for Q2 2022, reflecting a 14.9% increase from the previous year. The company achieved an operating income of $33.9 million and net income of $24.1 million, yielding diluted earnings per share of $1.19, the highest in its history. Notably, cash and cash equivalents reached $336.6 million, a 41.5% rise year-over-year. The firm expects Q3 consolidated net revenue between $260 million and $270 million, influenced by various external factors.
Heidrick & Struggles (HSII) will conduct its quarterly conference call to discuss the second quarter financial results on July 25, 2022, at 5:00 pm ET. The live webcast will be available on the company’s investor relations website, and a replay will be accessible two hours after the call concludes. Known for providing global leadership advisory and talent solutions, Heidrick & Struggles has been a pioneer in executive search for over 65 years. Further details can be found on their official website.
Heidrick & Struggles (Nasdaq: HSII) announced the addition of two new consultants to its Executive Search business in June 2022. Leanne Arcinue joined the New York office, focusing on talent solutions in technology services and Fintech, leveraging her extensive consulting and IT experience. Tonya W. Muse joined the Washington, D.C. office, specializing in social impact and government affairs, drawing on nearly 30 years of association leadership experience. The new hires aim to enhance Heidrick's capability to provide effective talent solutions amidst evolving business challenges.
Heidrick & Struggles (Nasdaq: HSII) announced that Vice Chairmen Bonnie Gwin and Theodore Dysart have been recognized in the 2022 NACD Directorship 100, highlighting their contributions to corporate governance. This marks the 11th year for Gwin and the 15th year for Dysart receiving this honor. NACD aims to elevate board performance by recognizing leaders who promote excellence in governance practices. The selection criteria include integrity, informed judgment, and high-performance standards. Heidrick partners with organizations to develop leadership capabilities in a complex business environment.
Heidrick & Struggles (Nasdaq: HSII) announced that CFO Mark Harris will present at the Sidoti Virtual Investor Conference on June 15, 2022, from 12:15 to 12:45 p.m. Eastern Time. Interested parties can access the live webcast and replay through the company's website. Heidrick & Struggles specializes in leadership advisory and on-demand talent solutions, aiming to develop future-ready leaders for top global organizations. The firm has over 65 years of experience in executive search and integrated talent solutions.
In 2021, Fortune 500 boards appointed a record 43% of first-time public directors and 45% women, highlighting a trend towards diversity amidst global challenges. The 2022 Board Monitor report by Heidrick & Struggles (NASDAQ: HSII) shows a steady 41% of new directors were racially or ethnically diverse. However, underrepresentation persists among Latinx and Asian women. With increased scrutiny on board diversity, companies are prioritizing directors with expertise in sustainability and cybersecurity to navigate evolving risks.
Baretz+Brunelle has appointed Josh Anisfeld as the new chief digital officer, reflecting the growing demand for digital marketing services in the legal sector. Anisfeld joins from Heidrick & Struggles (NASDAQ: HSII), where he established a digital marketing function that achieved significant ROI. His 15 years of experience in digital communications will enhance Baretz+Brunelle's marketing capabilities, enabling law firms and related businesses to effectively leverage digital strategies. Anisfeld will lead an existing digital team in Chicago, focusing on tailored marketing campaigns for clients.
Heidrick & Struggles International (HSII) reported record net revenue of $283.9 million for Q1 2022, a 46.6% increase from Q1 2021. Operating income rose by 54.2% to $30.2 million, while adjusted EBITDA increased 19.4% to $35.7 million. Net income reached $18.5 million, a growth of 24.5% with diluted earnings per share at $0.90. Cash and cash equivalents were $268 million. The company anticipates Q2 revenues between $290-$300 million, factoring in various market uncertainties.
Heidrick & Struggles (Nasdaq: HSII) will host a quarterly conference call on April 25, 2022, at 5:00 PM ET to discuss its first quarter 2022 financial results. The call will be accessible through a live webcast on the company's investor relations website and will be available for replay shortly after the event. Investors can also listen by phone using the provided numbers and conference ID. Heidrick & Struggles is a leading provider of global leadership advisory and on-demand talent solutions, helping organizations develop future-ready leaders.
Heidrick & Struggles (Nasdaq: HSII) has announced that Chief Financial Officer Mark Harris will present at the Sidoti Virtual Investor Conference on March 23, 2022. The presentation will take place from 10:45 to 11:15 a.m. Eastern Time. Investors can access the live webcast and replay of the presentation through a provided link. Heidrick & Struggles is a leading provider of global leadership advisory and on-demand talent solutions, specializing in executive search, leadership development, and diversity.
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