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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.
FTI Consulting has appointed Jasper Schrijver as Senior Managing Director to lead its European human capital offering within the Corporate Finance & Restructuring segment. The announcement, made on April 19, 2023, reflects the company’s commitment to enhancing its business transformation capabilities in the EMEA region. Schrijver, who brings over 15 years of experience in human capital management and transformation, will work with a team of three professionals, further strengthening the firm's expertise in aviation and labor-intensive industries.
The addition of Schrijver and his team highlights FTI Consulting's ongoing investments in specialized aviation consulting after acquiring FTI-BOLD in February 2022. The firm's revenue reached $3.03 billion in fiscal year 2022, showcasing its strong market position.
FTI Consulting (NYSE: FCN) announced a partnership with Smarsh to enhance its Technology segment offerings in digital communications compliance and risk management. This collaboration positions FTI Technology among a select group of providers capable of delivering integrated technology solutions, particularly in response to increasing client demands for improved compliance monitoring and governance.
A recent report indicated that 63% of business leaders are concerned about rising compliance risks, with 66% planning to invest in technology solutions. The partnership will support services such as communications archiving, e-discovery, and integration with emerging data sources like Slack and WhatsApp, ultimately helping clients manage risks and compliance challenges effectively.
FTI Consulting (NYSE: FCN) has expanded its Fund Administration practice in the Cayman Islands, gaining a Mutual Fund Administrators License from the Cayman Islands Monetary Authority (CIMA). The firm now provides administration services for both closed and open-ended mutual funds, enhancing its existing offerings in Corporate Finance & Restructuring. Key services include NAV calculations and cash management, utilizing market-leading software for efficiency. Leading the team is Managing Director Rudolf Weder, who brings over 15 years of relevant experience. This expansion allows FTI Consulting to cater to a broader range of clients, reinforcing its commitment to high standards of service.
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FTI Consulting (NYSE: FCN) announced the election of Elsy Boglioli as an independent director effective April 7, 2023, increasing the Board size to ten members. Ms. Boglioli, aged 41, founded Bio-Up in 2019 and has extensive experience in healthcare technology and consulting. Previously, she served as EVP and COO of Cellectis and held a senior role at Boston Consulting Group. She also sits on several boards, including GenSight Biologics and OSE Immunotherapeutics. Non-executive Chairman Gerard E. Holthaus praised her experience, saying it will benefit the company as it pursues growth. Ms. Boglioli expressed enthusiasm about contributing to FTI's future success. FTI Consulting generated $3.03 billion in revenues in fiscal year 2022 and employs over 7,600 professionals across 31 countries, focusing on helping organizations manage change and mitigate risk.
FTI Consulting (NYSE: FCN) will announce its financial results for Q1 2023 on April 27, before New York market opens. A conference call is scheduled for the same day at 9:00 a.m. Eastern Time, hosted by senior management, to discuss the financial data. The call will be available via live simulcast on the company's investor relations website, with a replay accessible for 90 days. For context, FTI Consulting generated $3.03 billion in revenue in fiscal year 2022 and operates globally with over 7,600 employees across 31 countries.