Korn Ferry Q4 2023 Earnings Report
Key Takeaways
Korn Ferry reported Q4 FY'23 fee revenue of $730.9 million, a 1% increase year-over-year (3% on a constant currency basis). Net income attributable to Korn Ferry was $47.5 million, with diluted earnings per share at $0.91 and adjusted diluted earnings per share at $1.01. The company's diversification strategy and acquisitions in the interim business contributed to revenue, while declines in Executive Search and Permanent Placement impacted overall operating margin.
Fee revenue increased by 1% to $730.9 million, driven by growth in the Interim portion of Professional Search & Interim.
Net income attributable to Korn Ferry decreased to $47.5 million, with diluted EPS of $0.91.
Operating margin was 9.9%, and Adjusted EBITDA margin was 13.4%, reflecting a change in fee revenue mix.
The company repurchased 255,000 shares of stock for $13.4 million and increased its quarterly cash dividend by 20%.
Korn Ferry
Korn Ferry
Korn Ferry Revenue by Segment
Forward Guidance
Korn Ferry expects Q1 FY'24 fee revenue to be in the range of $668 million and $698 million, with diluted earnings per share between $0.78 and $0.95, and adjusted diluted earnings per share between $0.84 and $1.00.
Revenue & Expenses
Visualization of income flow from segment revenue to net income