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Sep 30, 2023
Heidrick & Struggles Q3 2023 Earnings Report
Heidrick & Struggles reported a year-over-year revenue growth and maintained a double-digit adjusted EBITDA margin despite macro uncertainty.
Key Takeaways
Heidrick & Struggles reported a 3% year-over-year increase in revenue to $263.2 million for Q3 2023. The company's adjusted EBITDA margin remained strong at 12.3%. Growth was seen in On-Demand Talent, Heidrick Consulting, and Executive Search in Europe, which was partially offset by declines in Executive Search in Asia Pacific and the Americas.
Net revenue increased 3% year over year to $263.2 million.
Operating income increased sequentially by $8.6 million and the operating margin was 8.4%.
Adjusted EBITDA margin was 12.3%.
Diluted earnings per share was $0.73.
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 2023 fourth quarter consolidated net revenue of between $240 million and $260 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income