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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 (Nasdaq: HSII) reported record financial results for Q4 and FY 2021, with net revenue of $285.5 million, reflecting a 77% increase year-over-year. Adjusted net income rose by 78% to $20.8 million, with adjusted diluted EPS at $1.02. The company highlights strong performance in Executive Search and the successful integration of On-Demand Talent, which generated $23.6 million in revenue. Despite a one-time earnout charge of $11.4 million, operating income surged to $16.6 million. For Q1 2022, net revenue is projected between $270 million and $280 million.
Heidrick & Struggles (Nasdaq: HSII) will hold its quarterly conference call on February 28, 2022, at 5:00 PM ET to discuss its fourth quarter and full year 2021 financial results. A live webcast will be accessible on the company's investor relations website, with a replay available two hours after the call. Interested parties can also listen via phone using the provided numbers and conference ID. The company specializes in global leadership advisory and talent solutions to meet the consulting needs of top organizations.
A new report from Business Talent Group (BTG), a subsidiary of Heidrick & Struggles (Nasdaq: HSII), reveals insights into the growing independent talent economy. The study, surveying over 1,900 high-end independent professionals, shows a 34% year-over-year increase in the U.S. independent talent segment. Key findings include that 70% of independent talent prioritize project choice, 83% report satisfaction with independence, and nearly 40% experienced higher daily rates in 2021, averaging $1,200. With less than half considering traditional employment, the independent market is anticipated to continue its growth.
A new report by The Conference Board, in collaboration with Heidrick & Struggles and ESGAUGE, reveals that larger companies disclose greenhouse gas emissions 2.5 times more than smaller firms. While over half of S&P 500 companies report climate risks, only 28% of S&P MidCap 400 do. The report highlights a growing demand for disclosures related to biodiversity, deforestation, and water risks, urging companies to enhance their sustainability practices. With regulatory expectations rising, especially from the SEC on climate disclosures, smaller firms face increasing pressure to comply.
Heidrick & Struggles (Nasdaq: HSII) announced that Chief Financial Officer Mark Harris will present at the Sidoti Virtual Investor Conference on January 20, 2022, from 12:15 – 12:45 p.m. Eastern Time. Interested individuals can access the live webcast here. Heidrick & Struggles is a leader in global leadership advisory and talent solutions, committed to helping organizations develop future-ready leaders.
Heidrick & Struggles (HSII) has announced its plans to acquire RosExpert, a leading executive search firm in Russia, and WE Partners, a top consulting firm in Ukraine and Kazakhstan. This move aims to strengthen HSII's presence in key markets and enhance its service offerings. Established 25 years ago, RosExpert and WE Partners have extensive experience in leadership advisory. The financial terms are undisclosed, and the deal is expected to finalize in Q1 2022, pending regulatory approvals.
Heidrick & Struggles (Nasdaq: HSII) announced the addition of Allen Reed to its Americas consulting team as of October 2021. With over 20 years of experience in executive search within healthcare, Reed aims to enhance the firm's capacity to meet client needs for innovative leadership. His background includes work with high-growth biotechnology firms and established pharmaceutical companies. This move reflects Heidrick's commitment to providing strategic talent solutions in a rapidly evolving economic landscape.
Heidrick & Struggles (Nasdaq: HSII) announced that Chief Financial Officer Mark Harris will participate in the Truist Industrials & Services Summit on December 7, 2021. The firm specializes in global leadership advisory and talent solutions, serving senior-level consulting needs for top organizations. With over 65 years in the executive search sector, Heidrick & Struggles focuses on building future-ready leadership teams, offering services like executive search, diversity and inclusion, and leadership development.
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