Heidrick & Struggles (NASDAQ: HSII) reported Q1 EPS of $0.62, $0.10 better than the analyst estimate of $0.52. Revenue for the quarter came in at $176.27 million versus the consensus estimate of $170.7 million.

• Net revenue increased 7.2% (10.0% on constant currency basis) to $171.6 million compared to $160.1 million in the 2018 first quarter
• Executive Search net revenue grew 8.6% (11.4% on constant currency basis) to $158.3 million, with Americas growing 15.1%, Asia Pacific increasing 6.7%, and Europe down 6.0%, but all three regions up on a constant currency basis
• Produced 24.9% growth in operating income to $16.4 million and expanded operating margin to 9.6% compared to 8.2% in last year\'s first quarter
• Net income improved to $12.1 million and diluted EPS was $0.62, compared to 2018 first quarter net income of $10.2 million and diluted EPS of $0.53
• First quarter cash dividend increased to $0.15 per share from $0.13 per share

"We are pleased to report our 15th quarter in a row of year-over-year growth in net revenue and continued improvement in profitability," stated Heidrick & Struggles' President and Chief Executive Officer, Krishnan Rajagopalan. "Market demand for the executive search and leadership advisory services continues to be positive, despite the usual quarter-to-quarter and geographic variability. We are pleased with the progress we are making to differentiate our human capital solutions through our own digital transformation by utilizing more data-driven, tech-enabled platforms to help our clients accelerate their performance. We are off to a good start in 2019 and see continued opportunity to gain market share and increase shareholder value."

GUIDANCE:

Heidrick & Struggles sees Q2 2019 revenue of $172-182 million, versus the consensus of $186.12 million.

For earnings history and earnings-related data on Heidrick & Struggles (HSII) click here.