FTI Consulting, Inc. (NYSE: FCN) has reported its financial results for the first quarter ended March 31, 2025. The company's revenues for the first quarter of 2025 were $898.3 million, down 3% from the prior year quarter, which reported revenues of $928.6 million.
The net income for the first quarter of 2025 was $61.8 million, a decrease from the $80.0 million reported in the prior year quarter. The decrease in net income was primarily due to lower revenues and a $25.3 million special charge related to severance and other employee-related costs. Adjusted EBITDA for the first quarter of 2025 was $115.2 million, or 12.8% of revenues, compared to $111.1 million, or 12.0% of revenues, in the prior year quarter.
Earnings per diluted share (EPS) for the first quarter of 2025 were $1.74, down from $2.23 in the prior year quarter. Adjusted EPS for the first quarter of 2025 were $2.29, compared to $2.23 in the prior year quarter.
The company also announced a $400.0 million increase in its share repurchase authorization. During the first quarter of 2025, the company repurchased 1,126,995 shares of its common stock at an average price per share of $165.15 for a total cost of $186.1 million.
FTI Consulting's cash and cash equivalents at March 31, 2025, were $151.1 million, compared to $244.0 million at March 31, 2024, and $660.5 million at December 31, 2024. Total debt, net of cash, was $8.9 million at March 31, 2025, compared to $(39.0) million at March 31, 2024, and $(660.5) million at December 31, 2024.
Segment results for the first quarter of 2025 showed mixed performance: Corporate Finance & Restructuring segment revenues decreased by 6.1%. Forensic and Litigation Consulting segment revenues increased by 8.3%. Economic Consulting segment revenues decreased by 12.1%. Technology segment revenues decreased by 3.5%. * Strategic Communications segment revenues increased by 7.2%.
The company also disclosed a first quarter 2025 special charge of $25.3 million related to staffing alignment, which is expected to result in annualized cost savings of approximately $85 million of salary* and benefits-related compensation costs.
FTI Consulting will host a conference call for analysts and investors to discuss first quarter 2025 financial results at 9:00 a.m. Eastern Time on Thursday, April 24, 2025.
FTI Consulting, Inc. is a leading global expert firm with more than 8,100 employees located in 33 countries and territories as of March 31, 2025. The company generated $3.70 billion in revenues during fiscal year 2024. The market has reacted to these announcements by moving the company's shares 0.5% to a price of $162.68. If you want to know more, read the company's complete 8-K report here.
