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Jun 30, 2021
Heidrick & Struggles Q2 2021 Earnings Report
Reported record results with net revenue climbing 79% year-over-year and 34% sequentially, driven by a successful BTG acquisition and strong contributions from all regions and lines of business.
Key Takeaways
Heidrick & Struggles announced record second-quarter results with net revenue of $260 million, a 79% increase year-over-year. The company's performance was driven by strong contributions from all regions and lines of business, including the successful acquisition of Business Talent Group (BTG).
Record net revenue of $260.0 million, up 78.6% from Q2 2020 and 34.2% from Q1 2021.
Operating income of $28.7 million, including a $3.2 million restructuring charge.
Adjusted EBITDA of $37.6 million, more than doubled with adjusted EBITDA margin increasing to 14.4%.
Established On-Demand Talent segment reflecting the acquisition of Business Talent Group (BTG).
Heidrick & Struggles
Heidrick & Struggles
Heidrick & Struggles Revenue by Segment
Heidrick & Struggles Revenue by Geographic Location
Revenue by Segment
Executive Search Revenue
CapyFin.comOn-Demand Talent Revenue
CapyFin.comHeidrick Consulting Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
The Company expects 2021 third quarter consolidated net revenue of between $245 million and $255 million, while acknowledging the continued fluidity of the COVID-19 pandemic that may impact quarterly results.
Positive Outlook
- Anticipated volume of new Executive Search confirmations
- Heidrick Consulting assignments
- On-Demand Talent projects
- Current backlog
- Consultant productivity
Challenges Ahead
- Continued fluidity of the COVID-19 pandemic
- Seasonality of its business
- Consultant retention
- Average currency rates in June 2021
- Other factors management's assumptions
Revenue & Expenses
Visualization of income flow from segment revenue to net income