NYSE$KFY
Korn Ferry · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Korn Ferry's Q2 2024 financial results reflected a decrease in fee revenue, impacted by restructuring charges and a challenging macroeconomic environment, while consulting and digital segments showed resilience.
Korn Ferry reported a 3% year-over-year decrease in fee revenue to $704.0 million for Q2 FY'24. The company experienced a net loss of $1.7 million, which included a $52.8 million charge related to restructuring. Consulting and Digital segments showed revenue resilience, growing by almost 3%.
- Q2 FY'24 fee revenue was $704.0 million, a 3% decrease year-over-year (5% at constant currency).
- Net loss attributable to Korn Ferry was $1.7 million, including a $52.8 million restructuring charge; diluted loss per share was $0.04, and adjusted diluted earnings per share were $0.97.
- Operating income was $22.8 million (3.2% margin), and Adjusted EBITDA was $98.5 million (14.0% margin).
- Consulting and Digital fee revenue each grew almost 3% year-over-year.
Headline financials
Revenue & EPS history
Korn Ferry · Revenue · Quarterly
$712M
Revenue by segment
Korn Ferry · $616M total across 4 segments · Q2 2024
- Executive Search$203M-7.1%32.9%
- Consulting$178M+2.7%28.8%
- Professional Search & Interim$138M+2.7%22.5%
- Digital$97.1M+3.0%15.8%
Forward guidance
Korn Ferry expects Q3 FY'24 fee revenue to be in the range of $645 million to $665 million, with diluted earnings per share between $0.87 and $0.95, and adjusted diluted earnings per share between $0.96 and $1.02, assuming no major pandemic-related lockdowns or changes in worldwide geopolitical, economic, or financial conditions.
Tailwinds
- Q3 FY'24 fee revenue is expected to be in the range of $645 million and $665 million.
- Q3 FY'24 diluted earnings per share is expected to range between $0.87 to $0.95.
- Q3 FY'24 adjusted diluted earnings per share is expected to be in the range from $0.96 to $1.02.
- Guidance assumes no new major pandemic related lockdowns.
- Guidance assumes no further changes in worldwide geopolitical conditions.
Headwinds
- Guidance is subject to economic conditions.
- Guidance is subject to financial markets.
- Guidance is subject to foreign exchange rates.
- Guidance is subject to economic conditions.
- Guidance is subject to financial markets.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+0.1%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-0.3%
Avg return
30 days after
49%
34 / 69 earnings
Positive
+15.1%
Q3 2018
Best reaction
-23.2%
Q1 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -0.3% | +0.2% | — | |
| Q3 2026 | -1.5% | -4.6% | +0.5% | |
| Q2 2026 | +4.2% | +7.6% | +4.7% | |
| Q1 2026 | +0.4% | -0.3% | -2.9% | |
| Q4 2025 | +0.0% | +6.7% | +11.2% | |
| Q3 2025 | +7.6% | +7.7% | +0.7% | |
| Q2 2025 | -9.0% | -8.5% | -13.5% | |
| Q1 2025 | -6.6% | -1.6% | +2.3% | |
| Q4 2024 | +5.2% | +4.9% | +6.5% | |
| Q3 2024 | +1.5% | +1.2% | -0.8% | |
| Q2 2024 | +1.0% | +4.8% | +3.4% | |
| Q1 2024 | -2.6% | -3.6% | -2.6% | |
| Q4 2023 | -5.2% | -2.6% | +2.0% | |
| Q3 2023 | +2.6% | -5.1% | -10.0% | |
| Q2 2023 | -5.4% | -4.6% | -3.9% | |
| Q1 2023 | -14.7% | -11.9% | -17.0% | |
| Q4 2022 | +3.6% | +7.8% | +16.0% | |
| Q3 2022 | -0.1% | +2.8% | +5.9% | |
| Q2 2022 | +1.2% | +1.6% | -4.5% | |
| Q1 2022 | +3.3% | +0.3% | +4.3% | |
| Q4 2021 | +8.4% | +12.3% | +0.3% | |
| Q3 2021 | +11.4% | +8.8% | +6.8% | |
| Q2 2021 | +7.1% | +9.2% | +16.0% | |
| Q1 2021 | -5.1% | -6.1% | -5.1% | |
| Q4 2020 | -3.0% | -9.1% | -7.5% | |
| Q3 2020 | -5.5% | -7.2% | -3.3% | |
| Q2 2020 | -0.8% | -0.3% | +6.7% | |
| Q1 2020 | -5.2% | -4.5% | -6.5% | |
| Q4 2019 | -15.7% | -18.7% | -17.4% | |
| Q3 2019 | -4.7% | -0.6% | +0.5% | |
| Q2 2019 | -3.5% | -0.7% | -10.3% | |
| Q1 2019 | -23.2% | -23.5% | -25.7% | |
| Q4 2018 | +13.4% | +14.4% | +14.8% | |
| Q3 2018 | +15.1% | +16.8% | +24.3% | |
| Q2 2018 | -1.1% | -2.1% | -1.0% | |
| Q1 2018 | +7.9% | +8.0% | +19.9% | |
| Q4 2017 | +4.3% | +3.0% | +3.5% | |
| Q3 2017 | -3.2% | -3.5% | -5.9% | |
| Q2 2017 | +10.4% | +14.5% | +6.0% | |
| Q1 2017 | -5.3% | -9.3% | -12.1% | |
| Q4 2016 | -21.1% | -20.8% | -18.2% | |
| Q3 2016 | -6.6% | — | — | |
| Q2 2016 | -1.9% | — | — | |
| Q1 2016 | +0.9% | — | — | |
| Q4 2015 | +2.3% | — | — | |
| Q3 2015 | -2.8% | — | — | |
| Q2 2015 | +1.3% | — | — | |
| Q1 2015 | -1.3% | — | — | |
| Q4 2014 | -3.4% | — | — | |
| Q3 2014 | +13.9% | — | — | |
| Q2 2014 | +4.4% | — | — | |
| Q1 2014 | +14.0% | — | — | |
| Q4 2013 | +4.5% | — | — | |
| Q3 2013 | -1.3% | — | — | |
| Q2 2013 | +2.3% | — | — | |
| Q1 2013 | -5.3% | — | — | |
| Q4 2012 | -0.5% | — | — | |
| Q3 2012 | +2.8% | — | — | |
| Q2 2012 | -1.7% | — | — | |
| Q1 2012 | -1.3% | — | — | |
| Q4 2009 | +1.5% | — | — | |
| Q4 2011 | +1.5% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q3 2011 | -0.3% | — | — | |
| Q2 2011 | +1.6% | — | — | |
| Q1 2011 | +3.5% | — | — | |
| Q1 2010 | +3.5% | — | — | |
| Q4 2010 | +3.5% | — | — | |
| Q2 2010 | +3.5% | — | — |
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