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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%.
Revenue by Segment
Revenue by Geographic Location
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
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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