Heidrick & Struggles Q2 2020 Earnings Report
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%
Heidrick & Struggles
Heidrick & Struggles
Heidrick & Struggles Revenue by Segment
Heidrick & Struggles 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.