Korn Ferry Q3 2023 Earnings Report
Key Takeaways
Korn Ferry announced third quarter fiscal 2023 results with fee revenue of $680.8 million, essentially flat compared to the previous year but up 4% at constant currency. Diluted earnings per share were $0.21, and adjusted diluted earnings per share were $1.01. The company's Adjusted EBITDA was $96 million, representing a 14.1% margin.
Fee revenue was $680.8 million, essentially flat year-over-year (up 4% at constant currency).
Net income attributable to Korn Ferry was $11.2 million, or $0.21 per diluted share.
Adjusted EBITDA was $96.1 million, with a margin of 14.1%.
The company repurchased 462,500 shares of stock for $25.0 million during the quarter.
Korn Ferry
Korn Ferry
Korn Ferry Revenue by Segment
Korn Ferry Revenue by Geographic Location
Forward Guidance
Korn Ferry expects Q4 FY'23 fee revenue to be in the range of $690 million and $710 million, with diluted earnings per share between $0.89 and $0.98, and adjusted diluted earnings per share between $0.97 and $1.05.
Positive Outlook
- Q4 FY’23 fee revenue is expected to be in the range of $690 million and $710 million.
- Q4 FY’23 diluted earnings per share is expected to range between $0.89 to $0.98.
- Q4 FY’23 adjusted diluted earnings per share is expected to be in the range from $0.97 to $1.05.
Revenue & Expenses
Visualization of income flow from segment revenue to net income