Korn Ferry Stock Price, News & Analysis

Korn Ferry reported Q2 FY'21 fee revenue of $435.4 million, a 12% decline from Q2 FY'20, despite a 27% sequential increase from Q1 FY'21. Net income was $27.8 million with an operating margin of 11.1%. Adjusted EBITDA was $66.2 million, yielding a margin of 15.2%. The results were impacted by COVID-19, leading to a drop in demand across services, though Digital revenue rose due to recent acquisitions. Korn Ferry suspended specific Q3 guidance amid ongoing uncertainties regarding the pandemic.

Korn Ferry (NYSE:KFY) will release its Q2 FY2021 financial results on November 23, 2020, covering the period that ended on October 31, 2020. Investors can expect a press release before market opening, followed by a live webcast at 12:00 p.m. EST, hosted by CEO Gary Burnison and CFO Robert Rozek. This announcement highlights Korn Ferry's ongoing commitment to transparency and communication with its shareholders.

Korn Ferry (NYSE: KFY) has appointed Travis Parsons as a senior client partner within its Global Technology practice, located in Silicon Valley. Parsons, formerly with a global executive search firm, specializes in CFO and senior executive searches across technology, media, and telecommunications. His expertise extends to advising Fortune 500 companies and private equity-backed firms. With a background in economics and an MBA from Cornell University, he brings valuable experience from his roles at Goldman Sachs and Credit Suisse First Boston. This strategic hire aims to enhance Korn Ferry's advisory capabilities.

Korn Ferry (NYSE: KFY) has announced the appointment of Jeff Constable as the new Global Co-head of its Financial Officers practice. He brings extensive experience from a global executive search firm, specializing in financial services and insurance sectors. Constable has a strong track record in advising clients on executive searches, leadership transitions, and succession planning. Doug Charles, president of North America at Korn Ferry, emphasized the value Constable’s expertise will add for clients. He holds a mathematics degree from Duke University and an M.B.A. from the University of Michigan.

Korn Ferry (NYSE: KFY) announces the appointment of Satish Gannu as the new Chief Technology Officer of Korn Ferry Digital, based in San Francisco. Gannu comes from ABB, where he led significant digital transformation initiatives, including the cloud-native ABB Ability™ platform. He has extensive experience in cybersecurity and cloud solutions from previous roles at Vidder and Cisco, holding 20 patents in technology. His expertise is expected to accelerate the development of Korn Ferry's Intelligence Cloud™ product suite.

Korn Ferry (NYSE: KFY) has appointed Henrik Maartensson as a senior leader in its Global Private Equity and Industrial practices. Previously co-leading the EMEA region at a global executive search firm, Maartensson brings significant experience in leadership advisory for board and C-level roles. His background includes nearly 20 years in the transportation and logistics industry with Deutsche Post DHL. With degrees in logistics and an MBA, he aims to enhance Korn Ferry's capabilities in recruiting senior executives across various industry sectors.

Korn Ferry reported Q1 FY'21 fee revenue of $344.1 million, a 29% decrease year-over-year, largely attributed to COVID-19 impacts. The company experienced a net loss of $30.8 million and an operating loss of $43.8 million, with an operating margin of (12.7%). Adjusted EBITDA stood at $10.6 million (margin of 3.1%). CEO Gary D. Burnison noted early signs of recovery, citing improving new business metrics. However, due to ongoing pandemic uncertainties, specific revenue or earnings guidance for Q2 FY'21 was not provided.

Korn Ferry reported FY'20 fee revenue of $1,932.7 million, roughly unchanged from FY'19, with a net income of $104.9 million. In Q4 FY'20, fee revenue fell to $440.5 million, a 10% decline compared to Q4 FY'19, resulting in a net loss of $0.8 million. Operating margin decreased to 5.0% while Adjusted EBITDA stood at $69.6 million with a margin of 15.8%. The company maintained a solid liquidity position with $863 million in cash and equivalents. A quarterly dividend of $0.10 per share was declared for stockholders.