BrazilFTI Consulting breaks $2 billion global revenue barrier in 2018
FTI Consulting has broken the $2 billion revenue barrier in 2018, with global earnings up by 12 percent.
Global business advisory FTI Consulting has closed out its 2018 financial year with record fourth quarter revenues, the $505 million result narrowly pushing the firm above the $2 billion full-year barrier for the first ever time. Ending December 31st, FTI scraped over the line with 2018 global revenues of $2.028 billion, up 12.2 percent on the firm’s $1.8 billion take for 2017.
Citing its Corporate Finance & Restructuring and Forensic and Litigation Consulting practices as the stand-out performers, FTI’s revenues grew across each of its five business segments, which further include economic consulting, technology, and strategic communications. This growth across all lines was also reflected in the firm’s fourth quarter results, which were up 8 percent on the prior year quarter.
As a fourth quarter breakdown, FTI’s Corporate Finance & Restructuring line jumped by 10.9 percent on the prior year quarter to $144.8 million, while the firm’s Forensic and Litigation Consulting practice was up 9.3 percent to $132.1 million. The firm’s Economic Consulting and Strategic Communication segments saw more modest gains of 6.1 and 6.7 percent – adding $128.4 million and $58 million respectively.
For the full year, FTI’s three largest practices all pulled in above $520 million, led by the Corporate Finance & Restructuring division with a ~$565 million take (with work such as serving as the provisional liquidators on the collapse of oBike in Singapore), while its Strategic Communications (~$223 million) and Technology ($186 million) arms split the remainder of the global revenues.
“I want to thank our clients and our teams for an outstanding year,” said FTI Consulting CEO Steven Gunby. “These results reflect the efforts by our teams across the globe to continually strengthen our firm by attracting and developing the best professionals and building businesses behind them. This, in turn, allows us to do our job: support our clients as they navigate their largest and most complex issues.”
Altogether, FTI Consulting has some 4,700 employees across operations in 28 countries (including Greater China, Singapore, Japan, Korea, Malaysia, Indonesia and the Philippines) with a revenue generating headcount split of; Corporate Finance & Restructuring – 948 professionals; Forensics & Litigation – 1,153; Economic Consulting – 708; Technology – 306, and; Strategic Communications – 641.
Although FTI’s geographic revenue breakdown wasn’t provided in the abridged report, the Asia Pacific region in the previous year accounted for 7.1 percent of the consultancy’s business – with North America bringing the bulk at a 71 percent share. The Asian forensics consulting market continues to heat up however, as evidenced by FTI and its competitors bolstering their local expertise, such as with FTI's recent recruitment of financial compliance veteran Rod Francis as a Senior Managing Director in Hong Kong.
