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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%.
Revenue by Segment
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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