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FTI Consulting, Inc. reports developments across a global business-advisory platform organized around Corporate Finance, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. Company news includes quarterly results, segment performance and senior talent additions tied to restructuring, transactions, transformation, capital markets communications and regulated-industry advisory work.
Recurring updates also cover cybersecurity, data privacy, information governance, health and human services analytics, digital health and applied AI capabilities. Compass Lexecon affiliations add economics expertise for antitrust and other litigation-focused advisory work.
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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.