Korn Ferry Announces Second Quarter Fiscal 2018 Results of Operations
Los Angeles. December 6, 2017
Los Angeles, CA, December 6, 2017 – Korn Ferry (NYSE: KFY), the preeminent global people and organizational advisory firm, today announced record fee revenue of $443.0 million for its second quarter of fiscal 2018. In addition, second quarter diluted earnings per share was $0.64 and adjusted earnings per share was $0.67. Adjusted diluted earnings per share for the second quarter excluded $1.5 million, or $0.03 per share, mainly driven by integration/acquisition costs net of related taxes.
“I am pleased to report fee revenue of $443 million, an all-time high, up 10% year over year for our recently completed second quarter. Profits were solid, with diluted earnings per share and adjusted diluted earnings per share of $0.64 and $0.67 and Adjusted EBITDA of approximately $70 million,” said Gary D. Burnison, CEO of Korn Ferry. “Korn Ferry has evolved into a full-fledged consulting firm, with offerings that span search, organizational advisory services, strategy execution, leadership development, compensation and rewards and more. The acquisitions we have made over the years, the talent we have brought on board and our relentless focus on solutions aligned toward our clients’ business outcomes are making a notable impact. I look forward to what the future holds as we enter calendar year 2018.”
- Korn Ferry reports record fee revenue of $443.0 million in Q2 FY’18 driven by organic growth in all three lines of business as compared to Q2 FY’17: Futurestep - 16.7%, Executive Search - 13.2%, Hay Group - 5.9%
- Operating income was $51.2 million in Q2 FY’18 with an operating margin of 11.6%. Adjusted EBITDA was $69.6 million with Adjusted EBITDA margin of 15.7%.
- Q2 FY’18 diluted earnings per share was $0.64 compared to diluted earnings per share of $0.52 in Q2 FY’17. Adjusted diluted earnings per share was $0.67 in Q2 FY’18, compared to adjusted diluted earnings per share in Q2 FY’17 of $0.59.
- The Company continued to return capital to stockholders during the quarter, paying $5.7 million in dividends and repurchasing $25.2 million worth of its outstanding shares.
- The Company declared a quarterly dividend of $0.10 per share on December 6, 2017 payable on January 12, 2018 to stockholders of record on December 20, 2017.
About Korn Ferry
Korn Ferry is the preeminent global people and organizational advisory firm. We help leaders, organizations and societies succeed by releasing the full power and potential of people. Our more than 7,000 colleagues deliver services through our Executive Search, Hay Group and Futurestep divisions.