Business advisory firm FTI Consulting (NYSE: FCN) will be reporting results this Thursday before the bell. Here’s what to look for.
FTI Consulting beat analysts’ revenue expectations last quarter, reporting revenues of $990.7 million, up 10.7% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS and revenue estimates.
Is FTI Consulting a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting FTI Consulting’s revenue to grow 8.1% year on year, a reversal from the 3.3% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FTI Consulting has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at FTI Consulting’s peers in the professional services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Concentrix delivered year-on-year revenue growth of 5.4%, meeting analysts’ expectations, and Kforce reported flat revenue, in line with consensus estimates. Concentrix traded down 25.3% following the results while Kforce was up 41.3%.
Read our full analysis of Concentrix’s results here and Kforce’s results here.
There has been positive sentiment among investors in the professional services segment, with share prices up 13.1% on average over the last month. FTI Consulting is up 5.1% during the same time and is heading into earnings with an average analyst price target of $176.50 (compared to the current share price of $182.76).
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