Thu, Jul 25, 11:30 AM (44 days ago)
FTI Consulting, Inc. reported robust financial performance for Q2 2024, with revenues increasing by 9.8% to $949.2 million, driven by strong demand in Corporate Finance, Economic Consulting, and Technology segments. Net income surged 34.5% to $83.9 million, primarily due to higher revenues, a lower effective tax rate, and FX remeasurement gains. Adjusted EBITDA rose 15.7% to $115.9 million, with a margin improvement to 12.2%. Earnings per diluted share (EPS) increased to $2.34 from $1.75 in Q2 2023. Liquidity improved significantly, with net cash provided by operating activities at $135.2 million, a substantial turnaround from a $11.0 million outflow in the prior year. The company maintained a strong balance sheet with $226.4 million in cash and $840.0 million available under its credit facility. Future operations are expected to benefit from ongoing demand in key segments, though uncertainties like economic conditions and geopolitical risks remain.