FTI Consulting (FCN) Misses Q1 EPS by 29c, Lowers Outlook

FTI Consulting (NYSE: FCN) reported Q1 EPS of $0.34, $0.29 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $446.3 million versus the consensus estimate of $461.1 million.

GUIDANCE:

FTI Consulting sees Q2 2017 EPS of $1.90-$2.20, versus the consensus of $2.28. FTI Consulting sees Q2 2017 revenue of $1.775-1.875 billion, versus the consensus of $1.85 billion.

Commenting on these results, Steven H. Gunby, President and Chief Executive Officer of FTI Consulting, said, “Our first quarter results were disappointing, primarily because we experienced a decline in demand for our restructuring services in North America. We delivered sequential top and bottom line improvements in our Forensic and Litigation Consulting and Technology segments as we have begun to see our strategies take hold, and our Economic Consulting segment delivered record quarterly revenues. The strength of our franchise, the expertise of our professionals and our ability to win the most complex engagements, give me confidence that we will deliver sustained EPS growth over time, though our first quarter performance underscores that we have work to do to get the business to fully realize its potential.”

For earnings history and earnings-related data on FTI Consulting (FCN) click here.

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