- Korn Ferry (KFY) trades +3.7% as it reports FQ4 total revenue of $727M, an increase of 30.4% Y/Y and up 33% in constant currency.
- Sales by segment: Consulting: $173.9M (+13.3% Y/Y); Digital: $89.5M (+11.2% Y/Y); Executive Search: $244.2M (+21.7% Y/Y) and RPO and Professional Search: $213.5M (+77.4% Y/Y)
- Adj. EBITDA margin by segment: Consulting declined 10 bps to 17.6%; Digital by 370 bps to 31%; Executive Search improved 150 bps to 26.3% and RPO and Professional Search declined 110 bps to 23.8%.
- Total margins: Operating improved 370 bps to 19.2% and Adj. EBITDA declined 30 bps to 20%.
- Increased quarterly dividend by 25% to $0.15.
- The Co. also completed the acquisition of the Patina Solutions Group, which is included in the RPO and Professional Search segment.
- "Korn Ferry is the right firm for the right time to help companies solve these market imbalances. We help our clients achieve relevancy and performance by addressing the people and organizational requirements they need in this new world.” said Gary D. Burnison, CEO.
- FQ1 2023 Outlook: Fee revenue is expected to be in the range of $680-$710M and Adj. EPS between $1.42-$1.58 vs. consensus of $1.39.
- Previously: Korn/Ferry beats FQ4 estimates, raises dividend by 25% and guides Q1 EPS above consensus (June 22)