Heidrick & Struggles Q2 2022 Earnings Report
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
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