FTI Consulting (FCN) Q4 Earnings Beats Estimates, View Solid
Zacks Investment Research | Feb 22, 2018 10:12PM ET
FTI Consulting, Inc. (NYSE:FCN) reported solid fourth-quarter 2017 results with healthy year-over-year increase in earnings and revenues.
Adjusted earnings in the quarter were $29.2 million or 78 cents per share compared with $9.9 million or 24 cents in the year-earlier quarter. Adjusted earnings for the reported quarter comfortably surpassed the Zacks Consensus Estimate of 50 cents.
In 2017, the company posted adjusted earnings of $2.32 per share compared with $2.24 in 2016.
Quarter Details
In the quarter under review, GAAP earnings were $66.9 million or $1.78 per share compared with $7.1 million or 17 cents per share in the year-ago quarter. The year-over-year improvement in GAAP earnings was primarily due to benefits from the newly enacted tax law and higher revenues.
Total quarterly revenues came in at $467.7 million compared with $441.9 million in the year-ago quarter. The reported revenues outpaced the Zacks Consensus Estimate of $452 million. Higher segmental revenues from Corporate Finance & Restructuring, and Forensic and Litigation Consulting led to the increase. In 2017, revenues totaled $1,807.7 million compared with $1,810.4 million last year.
Revenues at the Corporate Finance & Restructuring segment came in at $130.5 million, up from $113.4 million in the prior-year quarter. This increase was led by higher demand for restructuring services and favourable foreign currency movements. At the Forensic and Litigation Consulting segment, the metric was up $120.9 million from $105.5 million on higher demand for global investigations and litigation services.
On the flipside, the Economic Consulting segment’s top line was down to $121.1 million from $129.3 million on decreasing demand for antitrust services. Also, revenues from Technology declined to $40.9 million from $43.5 million in the prior-year quarter due to reduced demand for managed review services. Meanwhile, at Strategic Communications segment, revenues came in at $54.3 million compared with $50.3 million in the fourth quarter of 2016. The uptick was owing to higher retained revenues from public affairs and corporate reputation services in Europe, the Middle East and Africa.
FTI Consulting, Inc. Price, Consensus and EPS Surprise
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