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Dec 31, 2021
Heidrick & Struggles Q4 2021 Earnings Report
Heidrick & Struggles' Q4 2021 performance was marked by record net revenue and profitability, driven by growth across all regions and business segments.
Key Takeaways
Heidrick & Struggles reported a record quarterly net revenue of $285.5 million, a 77% increase year-over-year. The company's operating income grew significantly, with adjusted EBITDA reaching $36.8 million. This performance was fueled by strong growth in Executive Search, Heidrick Consulting, and the addition of On-Demand Talent.
Net revenue reached a record $285.5 million, up 77% year-over-year.
Operating income increased to $16.6 million, with adjusted operating income at $28.0 million.
Net income climbed to $12.5 million, and adjusted diluted earnings per share rose to $1.02.
Adjusted EBITDA was $36.8 million, with an adjusted EBITDA margin of 12.9%.
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 2022 first quarter consolidated net revenue of between $270 million and $280 million, while acknowledging the continued fluidity of the COVID-19 pandemic and instability in Ukraine and Russia that may impact quarterly results.
Positive Outlook
- Anticipated volume of new Executive Search confirmations
- Heidrick Consulting assignments
- On-Demand Talent projects and the current backlog
- Consultant productivity
- Consultant retention
Challenges Ahead
- Continued fluidity of the COVID-19 pandemic
- Instability in Ukraine and Russia that may impact quarterly results
- Based on the average currency rates in December 2021
- Seasonality of the business
- Management's assumptions
Revenue & Expenses
Visualization of income flow from segment revenue to net income