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Dec 31, 2020
Heidrick & Struggles Q4 2020 Earnings Report
Reported a sequential net revenue growth of 12% exceeding the high end of guidance.
Key Takeaways
Heidrick & Struggles reported Q4 2020 results with net revenue of $161.0 million, a 12.2% increase from the third quarter. Adjusted diluted earnings per share were $0.59. The company's cash and cash equivalents totaled $336.5 million.
Net revenue of $161.0 million increased 12.2% from 2020 third quarter trough
Adjusted operating income of $12.8 million up sequentially from $9.9 million and adjusted operating margin of 7.9% up 100 basis points sequentially
Adjusted EBITDA of $18.4 million up from $15.9 million in the 2020 third quarter and adjusted EBITDA margin up 40 basis points
Strong cash flow from operations of $96.3 million creating total liquidity of $506.1 million at year end
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects 2021 first quarter consolidated net revenue of between $160 million and $170 million.
Positive Outlook
- Anticipated volume of new Executive Search confirmations
- Heidrick Consulting assignments
- Current backlog
- Consultant productivity
- Consultant retention
Challenges Ahead
- Continued fluidity of the COVID-19 pandemic that will continue to impact quarterly results.
- Based on the average currency rates in December 2020
- Seasonality of its business
- leadership changes
- unfavorable tax law changes and tax authority rulings
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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