FTI Consulting, Inc. reported a revenue increase of 6.0% for the fiscal year ended December 31, 2024, reaching $3.7 billion compared to $3.5 billion in 2023. The company's net income rose by 1.9% to $280.1 million, up from $274.9 million in the previous year. Adjusted earnings per diluted share also saw a modest increase of 3.6%, reaching $7.99, compared to $7.71 in 2023. However, adjusted EBITDA decreased by 5.0% to $403.7 million, reflecting rising direct compensation and operating expenses, which included a 4.5% increase in billable headcount.
The company experienced notable changes in its operational structure, including the implementation of targeted headcount reductions across all segments, resulting in special charges of $8.2 million. This restructuring aimed to align workforce capabilities with current business demands. FTI Consulting's total employee count increased to 8,374, with 6,633 billable professionals, marking a 4.8% rise from the previous year. The Corporate Finance & Restructuring segment generated the highest revenue at $1.4 billion, while the Economic Consulting segment saw a significant revenue increase of 12.0%, totaling $863.6 million.
Geographically, FTI Consulting derived approximately 64% of its revenues from the U.S. and 36% from international operations. The company operates in 34 countries, with a total of 72 offices worldwide. The increase in revenues was attributed to higher demand across all business segments, particularly in Economic Consulting and Technology, which reported revenue growth of 12.0% and 7.7%, respectively. The firm also noted a decrease in days sales outstanding (DSO) from 100 days in 2023 to 97 days in 2024, indicating improved cash collection efficiency.
Looking ahead, FTI Consulting anticipates continued growth driven by strategic investments in artificial intelligence and technology capabilities. The company plans to allocate between $70 million and $86 million for capital expenditures in 2025, focusing on cloud computing and office improvements. Additionally, the firm expects to record a special charge of approximately $17 million in the first quarter of 2025 as part of its ongoing workforce realignment efforts. Overall, FTI Consulting remains committed to enhancing its service offerings and operational efficiency to navigate the evolving market landscape.
About FTI CONSULTING, INC
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