FTI Consulting Reports Record Revenues for 2024

By Tamara Parker • Saturday, February 22 10:15 • Permanent Link

FTI Consulting, Inc. has reported its financial results for the fourth quarter and full year 2024, revealing a mix of both positive and negative changes from the prior year.

For the fourth quarter of 2024, the company reported revenues of $894.9 million, a 3% decrease from the $924.7 million in the prior year quarter. Earnings per share (EPS) for the same period decreased to $1.38, compared to $2.28 in the prior year. Adjusted EPS also decreased to $1.56 from $2.28 in the prior year quarter.

In contrast, for the full year 2024, FTI Consulting reported record revenues of $3.699 billion, marking a 6% increase from $3.489 billion in the prior year. Full year EPS increased to $7.81 from $7.71 in the prior year, while adjusted EPS increased to $7.99 from $7.71.

The company's cash position and capital allocation also saw significant changes, with net cash provided by operating activities increasing to $395.1 million for the year ended December 31, 2024, compared to $224.5 million for the year ended December 31, 2023. Moreover, cash and cash equivalents and short-term investments increased to $660.5 million at December 31, 2024, from $328.7 million at December 31, 2023.

However, the company's fourth quarter 2024 results were impacted by decreased revenues in the corporate finance & restructuring and technology segments, leading to a lower net income of $49.7 million compared to $81.6 million in the prior year quarter. Adjusted EBITDA for the fourth quarter also decreased to $73.7 million from $127.4 million in the prior year quarter.

Looking ahead, FTI Consulting introduced its 2025 guidance, estimating that revenues for the full year 2025 will range between $3.660 billion and $3.810 billion. The company also estimates that EPS for the full year 2025 will range between $7.44 and $8.24, with adjusted EPS ranging between $7.80 and $8.60.

FTI Consulting's president and CEO, Steven H. Gunby, expressed confidence in the company's growth trajectory despite headwinds experienced towards the end of 2024. The company's actions to align staffing with demand resulted in an estimated first quarter 2025 special charge of approximately $17 million, with expected cost savings of approximately $70 million in full year 2025.

Following these announcements, the company's shares moved 1.0%, and are now trading at a price of $164.69. Check out the company's full 8-K submission here.

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