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Jul 31, 2023
Korn Ferry Q1 2024 Earnings Report
Korn Ferry announced first quarter fiscal 2024 results, with fee revenue essentially flat year-over-year and diluted earnings per share at $0.89.
Key Takeaways
Korn Ferry's Q1 FY'24 fee revenue was $699.2 million, flat compared to Q1 FY'23. Diluted earnings per share were $0.89 and adjusted diluted earnings per share were $0.99. The company's diversification strategy continues to positively influence the results.
Fee revenue remained constant primarily due to an increase in the Interim portion of Professional Search & Interim, resulting from the acquisitions of Infinity Consulting Solutions and Salo.
Operating margin was 8.1% and Adjusted EBITDA margin was 13.7% in Q1 FY'24.
Net income attributable to Korn Ferry was $46.6 million in Q1 FY'24.
The company repurchased 90,000 shares of stock during the quarter for $4.2 million.
Revenue by Segment
Forward Guidance
Q2 FY’24 fee revenue is expected to be in the range of $675 million and $695 million; and Q2 FY’24 diluted earnings per share is expected to range between $0.85 to $0.97. On a consolidated adjusted basis: Q2 FY’24 adjusted diluted earnings per share is expected to be in the range from $0.91 to $1.01.
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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