Q4 2024 FTI Consulting Inc Earnings Call Transcript
Key Points
- FTI Consulting Inc (FCN) reported record revenues for the 10th consecutive year in 2024.
- The company achieved a 6% increase in revenues, reaching $3.7 billion compared to 2023.
- FTI Consulting Inc (FCN) maintained a strong balance sheet with no debt and increased cash and cash equivalents to $660.5 million by the end of 2024.
- The company continues to attract top talent, with significant interest from professionals wanting to join.
- FTI Consulting Inc (FCN) has a strong multiyear growth trajectory, with 10 consecutive years of adjusted EPS growth.
- FTI Consulting Inc (FCN) faced a slowdown in revenue growth in the second half of 2024, with a 3.2% decline in the fourth quarter.
- The company is experiencing significant headwinds in 2025, including senior departures in the US competition practice of its Compass Lexecon subsidiary.
- FTI Consulting Inc (FCN) anticipates a substantial impact on revenue and profitability due to these departures, potentially similar to a $35 million decline in adjusted EBITDA experienced in 2014.
- The company is cycling a particularly low tax rate from 2024, creating tough year-on-year comparisons.
- FTI Consulting Inc (FCN) has issued muted guidance for 2025, with expected revenue growth of only 1% and adjusted EPS growth of 2.6%.
Welcome to the FTI Consulting fourth quarter and full-year 2024 earnings conference call.
(Operator Instructions)
Please note this event is being recorded.
I would now like to turn the conference over to Ms. Mollie Hawkes, Head of Investor Relations. Please go ahead, ma'am.
Good morning. Welcome to the FTI Consulting conference call to discuss the company's fourth quarter and full-year 2024 earnings results. As reported this morning, management will begin with formal remarks after which they will take your questions. Before we begin, I would like to thank everyone on this conference call. Forward looking statements within the meaning of Section 27 A. of the Securities Act of 1933 and Section 21 of the Securities Exchange Act of 1934.
That all statements include statements concerning plans, initiative, projection, prospect, policy, processes, and practices, objectives, goal, commitments, strategy, future events, future revenues,
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