Business advisory firm FTI Consulting (NYSE: FCN) will be reporting results this Thursday before market open. Here’s what you need to know.
FTI Consulting beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $943.7 million, flat year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ 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, analysts are expecting FTI Consulting’s revenue to grow 2.1% year on year to $945.2 million, slowing from the 3.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.99 per share.
Analysts covering the company have generally 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 three times over the last two years.
Looking at FTI Consulting’s peers in the professional services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Concentrix delivered year-on-year revenue growth of 4%, beating analysts’ expectations by 1%, and ManpowerGroup reported revenues up 2.3%, topping estimates by 0.7%. Concentrix traded down 13.3% following the results while ManpowerGroup was also down 11.4%.
Read our full analysis of Concentrix’s results here and ManpowerGroup’s results here.
Investors in the professional services segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. FTI Consulting is down 3.9% during the same time and is heading into earnings with an average analyst price target of $174.50 (compared to the current share price of $153.25).
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