Korn Ferry Announces Third Quarter Fiscal 2019 Results of Operations
Los Angeles, CA, March 7, 2019 – Korn Ferry (NYSE: KFY), a global organizational consulting firm, today announced third quarter fee revenue of $474.5 million. Third quarter diluted earnings per share was $0.80 and Adjusted diluted earnings per share was $0.81. Adjusted diluted earnings per share for the third quarter excludes $0.8 million related to retention awards from a prior acquisition, or $0.01 per share.
“I am pleased with the results of our recently completed third quarter. We generated $475 million in fee revenue, up approximately 6% year-over-year, 10% at constant currency, with strong growth across all of our geographies and solutions. Adjusted EBITDA was $78 million, with an Adjusted EBITDA margin of 16.4 percent – an all-time high. We also continue to execute our balanced approach to capital deployment, repurchasing $14.7 million of our shares in the quarter, bringing our total recent share repurchases to nearly $100 million. We have increased our capacity to repurchase shares to a total remaining availability of $250 million. This move, in conjunction with our regular dividend, further drives our capital allocation strategy,” said Gary D. Burnison, CEO, Korn Ferry.
“We are redefining an industry. We are building a firm that has the scale and offerings that synchronize our clients’ strategy with their organization and people to help them drive superior performance,” added Burnison.