FCN FTI Consulting

FTI Consulting, Inc. engages in the provision of financial, legal, operational, political and regulatory, reputational and transactional advisory services. It operates through the following segments: Corporate Finance and Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications. The Corporate Finance and Restructuring segment focuses on the strategic, operational, financial, and capital needs of clients. The Forensic and Litigation Consulting segment offers law firms, companies, government clients, and other interested parties with multidisciplinary, independent dispute advisory, investigations, data analytics, forensic accounting, business intelligence, risk mitigation services and interim management services for health solutions practice clients. The Economic Consulting segment comprises of the analysis of complex economic issues for use in legal, regulatory and international arbitration proceedings, strategic decision making, and public policy debates for law firms, companies, government entities and other interested parties. The Technology segment consists of portfolio of information governance, e-discovery and data analytics software, services, and consulting support to corporations, law firms, courts and government agencies. The Strategic Communications segment designs and executes communications strategies for management teams and boards of directors relating to managing financial, regulatory and reputational challenges, navigate market disruptions, articulate brand, stake a competitive position, and preserve and grow operations. The company was founded in 1982 and is headquartered in Washington, DC.
Company profile
Ticker
FCN
Exchange
Website
CEO
Steven Gunby
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
FORENSIC TECHNOLOGIES INTERNATIONAL CORP, FTI CONSULTING INC
SEC CIK
Corporate docs
IRS number
521261113
FCN stock data
()
News
Stocks That Hit 52-Week Highs On Tuesday
6 Apr 21
FTI Consulting To Acquire The Rhodes Group; Terms Not Disclosed
29 Mar 21
11 Industrials Stocks Moving In Thursday's Intraday Session
25 Feb 21
FTI Consulting Q4 EPS $1.61 Beats $1.17 Estimate, Sales $626.58M Beat $617.56M Estimate
25 Feb 21
Earnings Scheduled For February 25, 2021
25 Feb 21
Press releases
FTI Consulting to Release First Quarter 2021 Results and Host Conference Call
8 Apr 21
FTI Consulting Adds Two Senior Managing Directors to Corporate Finance & Restructuring Segment in EMEA
31 Mar 21
FTI Consulting Launches Robust Data Governance Solution to Help Clients Mitigate Risk and Optimize Data Value
30 Mar 21
FTI Consulting to Acquire The Rhodes Group
29 Mar 21
Forbes Names FTI Consulting to 2021 America's Best Management Consulting Firms List
23 Mar 21
Calendar
25 Feb 21
11 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 294.95M | 294.95M | 294.95M | 294.95M | 294.95M | 294.95M |
Cash burn (monthly) | 3.24M | 6.2M | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 10.92M | 20.93M | n/a | n/a | n/a | n/a |
Cash remaining | 284.04M | 274.03M | n/a | n/a | n/a | n/a |
Runway (months of cash) | 87.8 | 44.2 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
18 Mar 21 | Keating Brendan J | Common Stock | Payment of exercise | Dispose F | No | No | 131.51 | 500 | 65.76K | 6,500 |
13 Mar 21 | Lu Curtis P | Common Stock | Payment of exercise | Dispose F | No | No | 125.78 | 449 | 56.48K | 28,012 |
13 Mar 21 | Paul Holly | Common Stock | Payment of exercise | Dispose F | No | No | 125.78 | 480 | 60.37K | 36,330 |
13 Mar 21 | Linton Paul Alderman | Common Stock | Payment of exercise | Dispose F | No | No | 125.78 | 480 | 60.37K | 38,215 |
13 Mar 21 | Sabherwal Ajay | Common Stock | Payment of exercise | Dispose F | No | No | 125.78 | 480 | 60.37K | 13,690 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
98.5% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 318 |
Opened positions | 57 |
Closed positions | 56 |
Increased positions | 73 |
Reduced positions | 154 |
13F shares |
Current |
---|---|
Total value | 4.32B |
Total shares | 33.74M |
Total puts | 78K |
Total calls | 44.8K |
Total put/call ratio | 1.7 |
Largest owners |
Shares | Value |
---|---|---|
Vanguard | 3.27M | $365.14M |
BLK Blackrock | 3.07M | $343.15M |
Kayne Anderson Rudnick Investment Management | 2.91M | $325.18M |
JPM JPMorgan Chase & Co. | 2.26M | $252.36M |
Dimensional Fund Advisors | 1.49M | $166.2M |
Black Creek Investment Management | 1.21M | $134.77M |
Victory Capital Management | 1.1M | $123.26M |
Greenvale Capital | 905K | $101.11M |
Nitorum Capital | 885.4K | $98.92M |
STT State Street | 839.02K | $93.74M |
Financial report summary
?Risks
- The COVID-19 pandemic has had, and could continue to have, a negative impact on our financial results and it could potentially have a material adverse impact on our business, financial condition and results of operations, the extent of which is not predictable.
- The COVID-19 pandemic has impacted, and could continue to impact, our segments and practices, the types of services they provide, and the regions in which we operate, differently.
- The COVID-19 pandemic could heighten risks related to, or otherwise negatively impact the effectiveness of, cybersecurity, information technology, financial reporting and other corporate functions that the Company relies upon to operate.
- The COVID-19 pandemic could adversely impact the health and welfare of our client-facing professionals, as well as our executive officers and other employees of our Company, which could have a material adverse effect on our ability to secure or perform client engagements and our results of operations.
- Our revenues, operating income and cash flows are likely to fluctuate.
- If we do not effectively manage the utilization of our professionals or billable rates, our financial results could decline.
- Our segments may face risks of fee non-payment, clients may seek to renegotiate existing fees and contract arrangements, and clients may not accept billable rate or price increases, which could result in loss of clients, fee write-offs, reduced revenues and less profitable business.
- Our Technology segment faces certain risks, including (i) industry consolidation and a highly competitive environment, (ii) client concentration, (iii) downward pricing pressure, (iv) technology changes and obsolescence, and (v) failure to protect intellectual property ("IP") used by the segment, which individually or together could cause the financial results and prospects of this segment and the Company to decline.
- We face certain risks relating to cybersecurity, the failure to protect the confidentiality of client information against misuse or disclosure, and the use or misuse of social media.
- We may not manage our growth effectively, and our profitability may suffer.
- Our international operations involve special risks.
- Failure to comply with governmental, regulatory and legal requirements or with our company-wide Code of Ethics and Business Conduct, Anti-Corruption Policy, Policy on Inside Information and Insider Trading, and other policies could lead to governmental or legal proceedings that could expose us to significant liabilities and damage our reputation.
- We may be required to recognize goodwill impairment charges, which could materially affect our financial results.
- The compromise of confidential or proprietary information could damage our reputation, harm our businesses and adversely impact our financial results.
- Governmental focus on data privacy and security has increased, and could continue to increase, our costs of operations.
- Our failure to recruit and retain qualified professionals and manage headcount needs and utilization could negatively affect our financial results and our ability to staff client engagements, maintain relationships with clients and drive future growth.
- We incur substantial costs to hire and retain our professionals, and we expect these costs to continue and to grow.
- We rely heavily on our executive officers and the heads of our segments and industry and regional leaders for the success of our business.
- Professionals may leave our Company to form or join competitors, and we may not have, or may choose not to pursue, legal recourse against such professionals.
- If we are unable to accept client engagements due to real or perceived relationship issues, our revenues, growth, client engagements and prospects may be negatively affected.
- Claims involving our services or adverse publicity could harm our overall professional reputation and our ability to compete and attract business or hire or retain qualified professionals.
- We may incur significant costs and may lose engagements as a result of claims by our clients regarding our services.
- Our clients may terminate our engagements with little or no notice and without penalty, which may result in unexpected declines in our utilization and revenues.
- We may not have, or may choose not to pursue, legal remedies against clients that terminate their engagements.
- Failures of our internal information technology systems controls may harm our overall professional reputation and disrupt our business operations.
- If we fail to compete effectively, we may miss new business opportunities or lose existing clients, and our revenues and profitability may decline.
- We may face competition from parties who sell us their businesses and from professionals who cease working for us.
- We may have difficulty integrating acquisitions or convincing clients to allow assignment of their engagements to us, which can reduce the benefits we receive from acquisitions.
- We may have a different system of governance and management from a company we acquire or its parent, which could cause professionals who join us from an acquired company to leave us.
- Our leverage could adversely affect our financial condition or operating flexibility if the Company fails to comply with operating covenants under applicable debt instruments.
- We and our subsidiaries may incur significant additional indebtedness.
- We may not be able to generate sufficient cash to service our indebtedness, and we may be forced to take other actions to satisfy our payment obligations under our indebtedness, which may not be successful.
- Our Credit Facility is guaranteed by substantially all of our domestic subsidiaries and will be required to be guaranteed by future domestic subsidiaries, including those that join us in connection with acquisitions.
- We may not have the ability to raise the funds necessary to settle conversions of the 2023 Convertible Notes or to repurchase the 2023 Convertible Notes upon a fundamental change, and the agreements governing our other indebtedness contain, and our future debt may contain, limitations on our ability to pay cash upon conversion or repurchase of the 2023 Convertible Notes.
- The conditional conversion feature of the 2023 Convertible Notes, if triggered, may adversely affect our financial condition and operating results.
- The accounting method for convertible debt securities that may be settled in cash, such as the 2023 Convertible Notes, could have a material effect on our reported financial results.
- Our variable rate indebtedness will subject us to interest rate risk, which could cause our annual debt service obligations to increase significantly.
Management Discussion
- (1)Excluded from non-GAAP financial measures.
- Revenues for the year ended December 31, 2020 increased $108.6 million, or 4.6%, as compared with the year ended December 31, 2019. Acquisition-related revenues contributed $40.7 million, or 1.7%, compared with 2019. Excluding the acquisition-related revenues, revenues increased $67.8 million, or 2.9%, primarily due to increased demand for our Corporate Finance segment, which was partially offset by lower demand for our FLC segment, as well as a $38.5 million decrease in pass-through revenues, primarily resulting from a Coronavirus Disease 2019 ("COVID-19") pandemic related decline in billable travel and entertainment expenses, compared with 2019.
- During the year ended December 31, 2020, we recorded a special charge of $7.1 million, which consists of the following components:
Content analysis
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Financial reports
10-K
2020 FY
Annual report
25 Feb 21
10-Q
2020 Q3
Quarterly report
29 Oct 20
10-Q
2020 Q2
Quarterly report
30 Jul 20
10-Q
2020 Q1
Quarterly report
30 Apr 20
10-K
2019 FY
Annual report
25 Feb 20
10-Q
2019 Q3
Quarterly report
24 Oct 19
10-Q
2019 Q2
Quarterly report
25 Jul 19
10-Q
2019 Q1
Quarterly report
25 Apr 19
10-K
2018 FY
Annual report
27 Feb 19
10-Q
2018 Q3
Quarterly report
25 Oct 18
Current reports
8-K
FCN.N - Q4 2020 FTI Consulting Inc Earnings Call
1 Mar 21
8-K
Results of Operations and Financial Condition
26 Feb 21
8-K
FTI Consulting Reports Fourth Quarter and Full Year 2020 Financial Results
26 Feb 21
8-K
FTI Consulting, Inc. Announces $200.0 Million Stock Repurchase Authorization
7 Dec 20
8-K
FCN.N - Q3 2020 FTI Consulting Inc Earnings Call
2 Nov 20
8-K
Results of Operations and Financial Condition
30 Oct 20
8-K
FTI Consulting Reports Third Quarter 2020 Financial Results
30 Oct 20
8-K
Entry into a Material Definitive Agreement
25 Aug 20
8-K
Results of Operations and Financial Condition
31 Jul 20
8-K
Results of Operations and Financial Condition
31 Jul 20
Registration and prospectus
S-8
Registration of securities for employees
3 Jun 20
S-8
Registration of securities for employees
6 Jun 17
S-8 POS
Registration of securities for employees (post-effective amendment)
6 Jun 17
S-8 POS
Registration of securities for employees (post-effective amendment)
6 Jun 17
S-8 POS
Registration of securities for employees (post-effective amendment)
6 Jun 17
S-8
Registration of securities for employees
2 Jun 15
S-8 POS
Registration of securities for employees (post-effective amendment)
6 Oct 14
S-8
Registration of securities for employees
21 Aug 14
424B3
Prospectus supplement
26 Jun 13
S-4
Registration of securities issued in business combination transactions
21 May 13
Proxies
DEFA14A
Additional proxy soliciting materials
16 Apr 20
DEF 14A
Definitive proxy
16 Apr 20
DEFA14A
Additional proxy soliciting materials
23 Apr 19
DEF 14A
Definitive proxy
23 Apr 19
DEF 14A
Definitive proxy
23 Apr 18
DEFA14A
Additional proxy soliciting materials
23 Apr 18
DEF 14A
Definitive proxy
24 Apr 17
DEFA14A
Additional proxy soliciting materials
24 Apr 17
DEF 14A
Definitive proxy
19 Apr 16
DEFA14A
Additional proxy soliciting materials
19 Apr 16
Other
UPLOAD
Letter from SEC
14 Sep 15
CORRESP
Correspondence with SEC
16 Aug 15
UPLOAD
Letter from SEC
20 Jul 15
EFFECT
Notice of effectiveness
26 Jun 13
UPLOAD
Letter from SEC
13 Jun 13
CORRESP
Correspondence with SEC
9 Jun 13
UPLOAD
Letter from SEC
29 May 13
UPLOAD
Letter from SEC
9 Aug 12
CORRESP
Correspondence with SEC
30 Jul 12
UPLOAD
Letter from SEC
17 Jul 12
Ownership
4
FTI CONSULTING / BRENDAN J KEATING ownership change
19 Mar 21
4
FTI CONSULTING / Paul Alderman Linton ownership change
16 Mar 21
4
FTI CONSULTING / AJAY SABHERWAL ownership change
16 Mar 21
4
FTI CONSULTING / Curtis P Lu ownership change
16 Mar 21
4
FTI CONSULTING / Holly Paul ownership change
16 Mar 21
4
FTI CONSULTING / Holly Paul ownership change
15 Mar 21
4
FTI CONSULTING / Paul Alderman Linton ownership change
15 Mar 21
4
FTI CONSULTING / Curtis P Lu ownership change
15 Mar 21
4
FTI CONSULTING / AJAY SABHERWAL ownership change
15 Mar 21
4
FTI CONSULTING / Holly Paul ownership change
12 Mar 21
Transcripts
2020 Q4
Earnings call transcript
26 Feb 21
2020 Q3
Earnings call transcript
1 Nov 20
2020 Q2
Earnings call transcript
2 Aug 20
2020 Q1
Earnings call transcript
3 May 20
2019 Q4
Earnings call transcript
25 Feb 20
2019 Q3
Earnings call transcript
24 Oct 19
2019 Q2
Earnings call transcript
26 Jul 19
2019 Q1
Earnings call transcript
25 Apr 19
2018 Q4
Earnings call transcript
26 Feb 19
2018 Q3
Earnings call transcript
25 Oct 18
Reddit threads
Daily Discussion Thread - February 25th, 2021
25 Feb 21
Daily Discussion Thread - February 24th, 2021
24 Feb 21
Daily Discussion Thread - February 23rd, 2021
23 Feb 21
Winning SPAC DD #2: Mudrick Capital Acquisition (MUDSW) and merger speculation
15 Feb 21
Daily Discussion Thread - October 29th, 2020
29 Oct 20
Daily Discussion Thread - October 28th, 2020
28 Oct 20