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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.
FTI Consulting (NYSE: FCN) announced the recognition of William Perlstein, Senior Managing Director, with the American College of Bankruptcy's 2020 Distinguished Service Award. This award honors significant contributions to insolvency and bankruptcy practices. Perlstein is acknowledged for his extensive experience, previously leading notable firms and legal teams, particularly at BNY Mellon. Steven H. Gunby, President and CEO, praised Perlstein's commitment to client service. FTI Consulting specializes in business advisory, generating $2.35 billion in revenue for 2019.
FTI Consulting (NYSE: FCN) announced the appointment of Michele Booth and Sumeet Gupta as Senior Managing Directors in the Business Transformation practice. Booth, based in Chicago, brings over 15 years of consulting experience focused on customer experience and digital strategy. Gupta, based in Dallas, has 20 years of experience in digital product expertise and engineering leadership. Their expertise aims to enhance revenue growth and implement strategic digital transformation initiatives, addressing the growing demand for improved customer experiences.
FTI Consulting reported third-quarter 2020 revenues of $622.2 million, a 4.9% increase from $593.1 million year-on-year. However, EPS fell 15.1% to $1.35 due to a special charge of $7.1 million. Adjusted EPS was $1.54, down 5.5% from last year. The company revised its full-year guidance, expecting revenues between $2.42 billion and $2.47 billion, lower than the previous range. Key growth was seen in Corporate Finance & Restructuring, while segments like Forensic and Litigation Consulting faced declines.
FTI Consulting (NYSE: FCN) has been recognized as a leading firm in financial crisis management according to ALM Intelligence’s Pacesetter Research: Financial Crisis Management 2020 report. The firm was evaluated among 26 market leaders based on criteria including business model and client enablement. Notably, FTI Consulting operates a multidisciplinary team, integrating finance and risk specialists, which enhances its service delivery. CEO Steven H. Gunby expressed pride in this recognition, underscoring the firm’s commitment to addressing clients' critical issues during crises.
Vikas Papriwal has been appointed as the Senior Managing Director in FTI Consulting's Corporate Finance & Restructuring practice, leading operations in the Middle East from Dubai. With nearly 30 years of experience, he has advised on over 200 transactions across 15 countries, including significant debt restructurings in the UAE. Papriwal's expertise is expected to enhance FTI Consulting's global reach and strengthen its position as a leading independent restructuring firm. This appointment follows their recent acquisition of Delta Partners, bolstering their capabilities in financial advisory.
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FTI Consulting, Inc. (NYSE: FCN) has appointed Omar Aguilar as a Senior Managing Director within its Corporate Finance & Restructuring segment, based in Houston. Aguilar will enhance the firm’s Business Transformation offerings, focusing on performance improvement in the Energy, Power & Products sectors.
His expertise in cost management and business transformation will support clients in navigating challenges amplified by the COVID-19 pandemic. Prior to joining FTI Consulting, Aguilar was a senior Partner at Deloitte Consulting, underscoring his extensive industry experience.
FTI Consulting has received three honors at the 17th annual Stevie Awards for Women in Business, highlighting its commitment to diversity and leadership development. Sophie Ross, CEO of the Technology segment, won two Silver Stevie Awards for Woman of the Year and Female Executive of the Year. The FTI WIN program, aimed at empowering women, garnered a Bronze award for its achievements since its inception in 2013, promoting over 1,830 women, including 56 Senior Managing Directors. These awards reflect FTI's dedication to enhancing diversity and inclusion within the consulting industry.
FTI Consulting revised its 2020 U.S. online retail sales forecast to $748 billion, up from $598 billion in 2019, marking a 25% increase and the strongest growth since 2006. This surge is attributed to changes in consumer behavior due to COVID-19, with significant growth in online grocery and home-related purchases. The forecast predicts online retail sales will hit $1 trillion by 2023 and suggests a market share increase to 27% by 2025. However, annual growth rates are expected to decelerate to low double digits in the coming years.
FTI Consulting (NYSE: FCN) will announce its third-quarter financial results for the period ending September 30, 2020, before the New York market opens on October 29, 2020. A conference call to discuss these results is scheduled for the same day at 9:00 a.m. Eastern Time, featuring senior management. Access to the call will be available online, with a replay expected for 90 days.
The firm generated $2.35 billion in revenues in 2019, with a global workforce of over 5,800 employees across 27 countries.