Heidrick & Struggles International, Inc. has recently released its 10-K report, revealing key insights into its business operations and financial performance. The company, founded in 1953 and headquartered in Chicago, Illinois, provides executive search, consulting, and on-demand talent services to businesses and business leaders globally. Its clientele includes Fortune 1000 companies, major U.S. and non-U.S. companies, middle market and emerging growth companies, private equity firms, governmental, higher education, and not-for-profit organizations, among others.
In terms of financial performance, the 10-K report for 2023 reveals that Heidrick & Struggles International experienced a 4.3% decrease in consolidated net revenue, amounting to $1.0 billion, compared to $1.1 billion in 2022. The decrease in net revenue was primarily attributed to a 13.5% decrease in Executive Search net revenue, partially offset by a 66.9% increase in On-Demand Talent net revenue and a 17.6% increase in Heidrick Consulting net revenue. The report also highlights the company's consultant headcount and productivity, with 414 Executive Search consultants and 89 Heidrick Consulting consultants as of December 31, 2023. Additionally, it notes a decrease in executive search confirmations and average revenue per executive search in 2023 compared to the previous year.
The market has reacted to these announcements by moving the company's shares -1.0% to a price of $33.71. For more information, read the company's full 10-K submission here.
