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FTI Consulting, Inc. (ticker: FCN) is a global business advisory firm that provides professional services to help clients address complex business challenges. The company specializes in offering strategic, operational, financial, and legal advisory services across various industries. Its offerings include consulting services in corporate finance, economic analysis, risk management, and digital solutions.
- Corporate Finance & Restructuring - Addresses strategic, operational, financial, transactional, and capital needs of clients, including business transformation, transactions, and restructuring services.
- Economic Consulting - Provides economic, financial, and econometric analysis for legal and regulatory matters, including antitrust, financial economics, and international arbitration.
- Forensic and Litigation Consulting - Offers risk management, investigations, and dispute advisory services, focusing on highly regulated industries and including areas such as disputes, data analytics, and risk investigations.
- Technology - Delivers e-discovery, information governance, and data analytics solutions to address legal, regulatory, and compliance needs.
- Strategic Communications - Develops and executes communication strategies to manage corporate reputation, financial communications, and public affairs during transformational events.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Steven H. Gunby ExecutiveBoard | President and Chief Executive Officer | Chair of the Compensation Committee at Arrow Electronics, Inc. | CEO since 2014; previously at Boston Consulting Group for 30+ years, holding senior leadership roles. | View Report → |
Ajay Sabherwal Executive | Chief Financial Officer | Director at Prairie Provident Resources Inc. | CFO since 2016; previously EVP and CFO at FairPoint Communications, Inc. | |
Brendan J. Keating Executive | Chief Accounting Officer and Controller | None | Joined in 2011 as Assistant Controller; promoted to CAO and Controller in 2019. | |
Curtis P. Lu Executive | General Counsel | None | General Counsel since 2015; previously General Counsel at LightSquared, Inc., and litigation partner at Latham & Watkins LLP. | |
Holly Paul Executive | Chief Human Resources Officer | None | CHRO since 2014; previously SVP and CHRO at Vocus, Inc., and senior talent acquisition leader at PwC. | |
Matthew Pachman Executive | Chief Risk and Compliance Officer | None | Joined in 2012; previously built compliance programs at Altegrity Risk International, Freddie Mac, and MCI Communications Corp. | |
Paul Linton Executive | Chief Strategy and Transformation Officer | None | Joined in 2014; launched FTI Delta and led ESG initiatives, including net-zero GHG emissions by 2030. | |
Brenda J. Bacon Board | Director | Trustee at Rowan University; Director at Argentum; Member of Hilton Grand Vacations Inc.'s Audit and Nominating Committees | Director since 2006; co-founder and former CEO of Brandywine Senior Living LLC. | |
Claudio Costamagna Board | Director | Chairman of CC e Soci S.r.l.; Director at Ferragamo Finanziaria S.p.A., Italiana Petroli S.p.A., and others | Director since 2012; former Chairman of Goldman Sachs Investment Banking Division in EMEA. | |
Elsy Boglioli Board | Director | Chair of TreeFrog Therapeutics; Board Member at GenSight Biologics, OSE Immunotherapeutics, and other private healthcare companies | Director since 2023; founder and CEO of Bio-Up; extensive experience in healthcare technology and biopharma. | |
Gerard E. Holthaus Board | Chairman of the Board | Lead Independent Director at WillScot Mobile Mini Holdings Corp.; Chairman at Loyola University Maryland, Saint Joseph Hospital, and The Baltimore Life Companies | Director since 2004; Chairman since 2013; extensive leadership experience in governance and corporate strategy. | |
Laureen E. Seeger Board | Director | Trustee at Central Park Conservancy; Chair of Governance Committee at University of Wisconsin Foundation | Director since 2016; former Chief Legal Officer of American Express and General Counsel at McKesson Corporation. | |
Mark S. Bartlett Board | Director | Chair of Audit Committees at T. Rowe Price Group, WillScot Mobile Mini Holdings Corp., and Zurn Elkay Water Solutions Corp. | Director since 2015; extensive experience in audit and financial oversight. | |
Nicholas C. Fanandakis Board | Director | Member of Audit Committees at Duke Energy Corp. and ITT Inc. | Director since 2014; former CFO of DuPont; led major corporate transformations. | |
Stephen C. Robinson Board | Director | Trustee at Cornell University, Lincoln Center for the Performing Arts, and The New York Community Trust | Director since 2022; former U.S. District Judge and U.S. Attorney; retired partner at Skadden, Arps, Slate, Meagher & Flom LLP. |
- With revenue growth at 3.7% this quarter, which is below your historical averages and expectations, what specific strategies are you implementing to accelerate growth and return to your aspirational levels in the near term?
- You mentioned delays in assignments and a slowdown in your strategy business due to large engagements concluding simultaneously; how are you addressing these issues to ensure a more consistent and reliable revenue stream in that segment?
- Despite higher SG&A expenses from investments in AI capabilities and increased non-billable headcount, adjusted EBITDA declined; how do you justify these expenses in light of the current revenue shortfall, and when do you anticipate seeing a return on these investments?
- Given the challenges in certain markets like Asia and a weaker global consulting backdrop, what measures are you taking to mitigate regional risks and adapt your strategy to maintain growth in these uncertain market conditions?
- With significant hiring initiatives, including over 320 new campus recruits and numerous senior hires, how are you balancing the increased personnel costs with the need to improve profitability, and how do you expect these hires to contribute to revenue growth in the upcoming quarters?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Corporate Finance & Restructuring (Q3 acquisition) | 2022 | $11.3 million in goodwill was recorded based on a purchase price allocation as the acquired business’s operations were integrated into the Corporate Finance segment. |
Corporate Finance & Restructuring (Q2 acquisition) | 2022 | The acquisition in Q2 resulted in $11.1 million in goodwill via a preliminary purchase price allocation, with the business operations integrated into the segment to support growth. |
Corporate Finance & Restructuring (Q1 acquisition) | 2022 | The Q1 acquisition generated $2.2 million in acquisition-related revenues and $12.9 million in goodwill from a preliminary purchase price allocation, with the acquired business’s performance fully included from the acquisition date. |
Recent press releases and 8-K filings for FCN.
- FTI Consulting reported consolidated revenues of $898.3 million ($898,282 in thousands ) and net income of $61.8 million ($61,824 in thousands ), reflecting a 3.3% decline from the prior year quarter alongside modest year-over-year growth.
- The company achieved an EPS of $1.74 (after a $25.3 million special charge) and an adjusted EPS of $2.29, with adjusted EBITDA of $115,164 (in thousands) noted during the quarter.
- FTI Consulting announced an additional $400.0 million increase in its share repurchase authorization, with ongoing buyback activity during Q1 2025.
- Detailed reviews highlighted weaker performance in the Economic Consulting and Corporate Finance & Restructuring segments , while North America contributed significantly to overall results.
- Consolidated Q1 2025 results: FTI Consulting delivered revenues of $898,282 (in thousands) and net income of $61,824 (in thousands), with a 0.4% sequential revenue increase and a 24.4% rise in net income from Q4 2024 .
- EPS Performance: Reported EPS of $1.74 and adjusted EPS of $2.29, marking a 46.8% sequential improvement from Q4 2024 .
- Segment & Operational Highlights: The Forensic and Litigation Consulting segment achieved record revenues of $190.6M (up 8.3% YoY) while the Corporate Finance & Restructuring segment posted $343.6M (up 2.4% from Q4 2024), contributing to an overall adjusted EBITDA of $115,164 (in thousands) with North America as a key driver .
- Year-over-Year Trends: Revenues stood at $898.3M, reflecting a 3.3% decline YoY with adjusted EPS at $2.09 compared to $2.23 last year amid revenue headwinds and one-time charges .
- Share Repurchases: The company executed significant buybacks of over 1.1M shares at an average price of $165.15, maintaining additional repurchase authorization .
- Guidance Update: Adjustments were announced to account for upcoming SG&A increases and the impact of forgivable loan amortization on future EBITDA .