Korn Ferry (KFY), the consulting firm, announced its financial results for the fourth quarter on Thursday, including guidance for earnings, adjusted earnings, and fee revenue for the upcoming first quarter.
For the first quarter, Korn Ferry forecasts earnings per share to be in the range of $1.05 to $1.15, with adjusted earnings per share estimated between $1.07 and $1.17. Fee revenue is projected to fall between $655 million and $675 million.
According to data from Thomson Reuters, the average estimate from five analysts predicts earnings of $1.06 per share on revenues of $685.88 million for the first quarter, with these analysts' estimates typically excluding special items.
In the fourth quarter, Korn Ferry reported a net income attributable to the company of $65.19 million, or $1.24 per share. This is an increase from the $47.49 million, or $0.91 per share, reported in the same period last year.
Excluding special items, the adjusted earnings for the fourth quarter were $1.26 per share, up from $1.01 per share in the previous year's quarter.
Total revenue for the fourth quarter saw a decrease of 5.2%, coming in at $699.92 million compared to $738.12 million in the corresponding quarter of the prior year.
Analysts had expected earnings of $1.12 per share on revenues of $689.92 million for the quarter.
Additionally, on Wednesday, Korn Ferry announced an increase in its regular quarterly dividend to $0.37 per share. This dividend is payable on July 31, 2024, to stockholders of record as of July 3, 2024.
