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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
Heidrick & Struggles
Heidrick & Struggles
Heidrick & Struggles Revenue by Segment
Heidrick & Struggles Revenue by Geographic Location
Revenue by Segment
Executive Search 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 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