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Jul 31, 2022
Korn Ferry Q1 2023 Earnings Report
Korn Ferry's first quarter fiscal 2023 results were announced, featuring a 19% increase in fee revenue and diluted earnings per share of $1.45.
Key Takeaways
Korn Ferry reported a strong first quarter in fiscal year 2023, with fee revenue reaching $695.9 million, a 19% increase year-over-year. Diluted earnings per share were $1.45, and adjusted diluted earnings per share was $1.50. The company's Adjusted EBITDA was $132 million, representing a 19% margin.
Fee revenue increased by 19% to $695.9 million, or 24% on a constant currency basis.
Net income attributable to Korn Ferry was $77.2 million.
Diluted earnings per share was $1.45, and adjusted diluted earnings per share was $1.50.
Operating income was $111.6 million, with an operating margin of 16.0%.
Korn Ferry
Korn Ferry
Korn Ferry Revenue by Segment
Korn Ferry Revenue by Geographic Location
Revenue by Segment
Consulting Revenue
CapyFin.comDigital Revenue
CapyFin.comExecutive Search Revenue
CapyFin.comProf. Search & Interim Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comLatin America Revenue
CapyFin.com Forward Guidance
Korn Ferry anticipates Q2 FY'23 fee revenue to be in the range of $678 million to $708 million, with diluted earnings per share expected to range between $1.28 and $1.45, and adjusted diluted earnings per share between $1.34 and $1.50.
Positive Outlook
- Continuing strength in new business trends coming out of Q1 FY’23.
- Q2 FY’23 fee revenue is expected to be in the range of $678 million and $708 million.
- Q2 FY’23 diluted earnings per share is expected to range between $1.28 to $1.45.
- Q2 FY’23 adjusted diluted earnings per share is expected to be in the range from $1.34 to $1.50.
- Assuming no new major pandemic related lockdowns.
Challenges Ahead
- Global inflation presents a level of risk and uncertainty.
- Rising interest rates present a level of risk and uncertainty.
- Escalating geo-political tensions present a level of risk and uncertainty.
- Further changes in worldwide geopolitical conditions could impact the company.
- Economic conditions could impact the company.
Revenue & Expenses
Visualization of income flow from segment revenue to net income