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Jun 30, 2020
Heidrick & Struggles Q2 2020 Earnings Report
Announced second quarter results, maintained cash dividend, and implemented cost savings initiatives.
Key Takeaways
Heidrick & Struggles announced second quarter results with net revenue of $145.6 million. The company reported an operating loss of $24.0 million, which included a non-cash impairment charge of $33.0 million. Adjusted EBITDA was $12.4 million with a margin of 8.5%. The company is implementing restructuring plan in 2020 third quarter to optimize future growth and profitability and expects annual cost savings of $30 million to $40 million.
Net revenue of $145.6 million
Operating loss of $24.0 million and operating margin of (16.5%) reflect a non-cash impairment charge of $33.0 million
Adjusted operating income of $9.0 million and adjusted operating margin of 6.2%
Adjusted EBITDA of $12.4 million and adjusted EBITDA margin of 8.5%
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Given the continued uncertainty due to the COVID-19 pandemic, the Company is not providing financial guidance for the 2020 third quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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