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Jun 30, 2022
Heidrick & Struggles Q2 2022 Earnings Report
Reported record quarterly results with net revenue climbing 15% over prior year.
Key Takeaways
Heidrick & Struggles announced record quarterly revenue of $298.7 million, a 14.9% increase year-over-year. Diluted EPS was $1.19, with an adjusted EBITDA margin of 12.3%. The company's cash balance reached a second-quarter high of $336.6 million.
Net revenue reached a record $298.7 million, an increase of 14.9% versus the prior year period
Operating income increased to $33.9 million, 18.0% higher than the prior year period
Net income and adjusted net income were $24.1 million; diluted and adjusted diluted earnings per share were $1.19; year-to-date diluted earnings per share reached a record $2.08
Adjusted EBITDA was $36.8 million and adjusted EBITDA margin was 12.3%
Cash and cash equivalents was $336.6 million, 41.5% higher than at June 30, 2021
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 2022 third quarter consolidated net revenue of between $260 million and $270 million, while acknowledging that some continued fluidity in external factors such as foreign conflicts, inflation, the interest rate and foreign exchange rate environments may impact quarterly results.
Positive Outlook
- Anticipated volume of new Executive Search confirmations
- On-Demand Talent projects
- Heidrick Consulting assignments
- Consultant productivity
- Consultant retention
Challenges Ahead
- Some continued fluidity in external factors
- Foreign conflicts
- Inflation
- Interest rate environment
- Foreign exchange rate environments
Revenue & Expenses
Visualization of income flow from segment revenue to net income