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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
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