•
Jul 31, 2020

Korn Ferry Q1 2021 Earnings Report

Korn Ferry reported a decrease in fee revenue and a net loss due to the impact of COVID-19.

Key Takeaways

Korn Ferry announced first quarter fiscal 2021 results with fee revenue of $344.1 million, a 29% decrease year-over-year. The company reported a net loss attributable to Korn Ferry of $30.8 million, or $0.58 diluted loss per share. Adjusted diluted loss per share was $0.19, excluding restructuring and integration/acquisition costs.

Fee revenue decreased by 29% year-over-year to $344.1 million.

Net loss attributable to Korn Ferry was $30.8 million.

Operating loss was $43.8 million with an operating margin of (12.7%).

Diluted loss per share was $0.58, and adjusted diluted loss per share was $0.19.

Total Revenue
$347M
Previous year: $496M
-30.1%
EPS
-$0.19
Previous year: $0.76
-125.0%
Executive Search Engagements Billed
2.67K
Executive Search New Engagements
1.12K
Digital Subscription License Revenue
$21.1M
Gross Profit
$330M
Previous year: $467M
-29.4%
Cash and Equivalents
$543M
Previous year: $425M
+27.8%
Free Cash Flow
-$153M
Previous year: -$173M
-11.3%
Total Assets
$2.62B
Previous year: $2.41B
+8.8%

Korn Ferry

Korn Ferry

Korn Ferry Revenue by Segment

Korn Ferry Revenue by Geographic Location

Forward Guidance

Due to the uncertainty caused by COVID-19, Korn Ferry will not issue specific revenue or earnings guidance for the second quarter of fiscal year 2021.

Revenue & Expenses

Visualization of income flow from segment revenue to net income