Slide 1: FTI Consulting, Inc. Second Quarter 2016 Earnings Conference Call
FTI Consulting, Inc. Second Quarter 2016 Earnings Conference Call
Slide 2: Cautionary Note About Forward-Looking Statements
Cautionary Note About Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward- lo
Slide 3: Today's Speakers
Today’s Speakers Steven Gunby Catherine Freeman President and Chief SVP, Controller and Chief Accounting Executive Officer Officer and Interim Chief Financial Officer 3
Slide 4: Second Quarter 2016 Select Financial Review
Second Quarter 2016 Select Financial Review All numbers in $000s, except for per share data and percentages Q2 2016 Q1 2016 % Variance Q2 2015 % Variance Revenues $ 460,147 $ 470,285 (2.2%) $ 449,137 2.5% Net Income $ 26,547 $ 30,181 (12.0%) $ 21,709 22.3% Fully Diluted Earnings Per Share $ 0.64 $ 0
Slide 5: Second Quarter 2016 Select Segment Financial Review
Second Quarter 2016 Select Segment Financial Review All numbers in $000s, except for percentages Q2 2016 Q1 2016 % Variance Q2 2015 % Variance Corporate Finance & Restructuring Revenue $ 132,142 $ 127,156 3.9% $ 109,113 21.1% Adjusted Segment EBITDA $ 32,041 $ 31,603 1.4% $ 22,032 45.4% Adjusted Seg
Slide 6: Second Quarter 2016 Select Geographic Review
Second Quarter 2016 Select Geographic Review Percentage of Revenues Revenue Growth Region Q2 2016 Q1 2016 Q2 2015 Q2 2016 vs. Q1 2016 Q2 2016 vs. Q2 2015 North America 70.8% 74.4% 73.2% (6.9%) (0.8%) EMEA 20.2% 18.1% 17.5% 9.3% 17.9% Asia Pacific 7.2% 5.8% 6.3% 21.2% 17.4% Latin America 1.8% 1.7% 3.
Slide 7: Second Quarter 2016 Select Cash Position/Capital Allocation
Second Quarter 2016 Select Cash Position/Capital Allocation All numbers in $000s except for DSO Year to Date Year to Date Year to Date Q2 2016 Q1 2016 Q2 2015 Cash and cash equivalents $ 182,665 $ 114,451 $ 239,988 Accounts receivable, net $ 547,298 $ 553,230 $ 549,300 Days sales outstanding ("DSO")
Slide 8: Second Quarter 2016 Question & Answer Session
Second Quarter 2016 Question & Answer Session Q&A 8
Slide 9: Financial Tables
im F. Fo suirind Financial Tables
Slide 10: Condensed Consolidated Statements of Comprehensive Income: Three Months Ended June 30, 2016 and 2015
Condensed Consolidated Statements of Comprehensive Income: Three Months Ended June 30, 2016 and 2015 and March 31, 2016 All numbers in $000s, except for per share data Three Months Ended June 30, Three Months Ended March 31, 2016 (unaudited) 2015 (unaudited) 2016 (unaudited) Revenues $460,147 $449,1
Slide 11: Condensed Consolidated Statements of Comprehensive Income: Six Months Ended June 30, 2016 and 2015
Condensed Consolidated Statements of Comprehensive Income: Six Months Ended June 30, 2016 and 2015 All numbers in $000s, except for per share data Six Months Ended June 30, 2016 (unaudited) 2015 (unaudited) Revenues $930,432 $881,475 Operating expenses Direct cost of revenues 608,830 570,499 Selling
Slide 12: Select Operating Results by Business Segment: Three Months Ended June 30, 2016 and 2015
Select Operating Results by Business Segment: Three Months Ended June 30, 2016 and 2015 All numbers in $000s, except for bill rate per hour and headcount data Three Months Ended June 30, 2016 Average Billable Revenue-Generating Headcount Revenues Adjusted EBITDA Adjusted EBITDA Margin Utilization Ra
Slide 13: Select Operating Results by Business Segment: Three Months Ended March 31, 2016
Select Operating Results by Business Segment: Three Months Ended March 31, 2016 All numbers in $000s, except for bill rate per hour and headcount data Three Months Ended March 31, 2016 Adjusted EBITDA Average Billable Revenue-Generating Headcount (at Revenues Adjusted EBITDA Margin Utilization Rate
Slide 14: Select Operating Results by Business Segment: Six Months Ended June 30, 2016 and 2015
Select Operating Results by Business Segment: Six Months Ended June 30, 2016 and 2015 All numbers in $000s, except for bill rate per hour and headcount data Six Months Ended June 30, 2016 Average Billable Revenue-Generating Headcount Revenues Adjusted EBITDA Adjusted EBITDA Margin Utilization Rate (
Slide 15: Reconciliation of Non-GAAP Financial Measures: Three Months Ended June 30, 2016 and 2015 and March 31, 2016
Reconciliation of Non-GAAP Financial Measures: Three Months Ended June 30, 2016 and 2015 and March 31, 2016 All numbers in $000s, except for per share data Three Months Ended June 30, Three Months Ended March 31, 2016 2015 2016 Net income $26,547 $21,709 $30,181 Special charges, net of tax(1) 1,059
Slide 16: Reconciliation of Non-GAAP Financial Measures: Six Months Ended June 30, 2016 and 2015
Reconciliation of Non-GAAP Financial Measures: Six Months Ended June 30, 2016 and 2015 All numbers in $000s, except for per share data Six Months Ended June 30, 2016 2015 Net income $56,728 $45,395 Special charges, net of tax(1) 4,328 - Remeasurement of acquisition-related contingent consideration,
Slide 17: Reconciliation of Net Income and Operating Income to Adjusted EBITDA: Three Months Ended June 30
Reconciliation of Net Income and Operating Income to Adjusted EBITDA: Three Months Ended June 30, 2016 and 2015 All numbers in $000s Three Months Ended June 30, 2016 Corporate Finance Forensic and Litigation Economic Strategic Unallocated & Restructuring Consulting Consulting Technology Communicatio
Slide 18: Reconciliation of Net Income and Operating Income to Adjusted EBITDA: Three Months Ended March 31
Reconciliation of Net Income and Operating Income to Adjusted EBITDA: Three Months Ended March 31, 2016 All numbers in $000s Three Months Ended March 31, 2016 Corporate Finance Forensic and Litigation Economic Strategic Unallocated & Restructuring Consulting Consulting Technology Communications Corp
Slide 19: Reconciliation of Net Income and Operating Income to Adjusted EBITDA: Six Months Ended June 30
Reconciliation of Net Income and Operating Income to Adjusted EBITDA: Six Months Ended June 30, 2016 and 2015 All numbers in $000s Six Months Ended June 30, 2016 Corporate Finance Forensic and Litigation Economic Strategic Unallocated & Restructuring Consulting Consulting Technology Communications C
Slide 20: End Notes: FTI Consulting Non-GAAP Data Reconciliations
End Notes FTI Consulting Non-GAAP Data Reconciliations We have included the definitions of Segment Operating Income (Loss), Adjusted Segment EBITDA and Adjusted Segment EBITDA Margin, GAAP measures, below in order to more fully define the components of the certain non-GAAP measures presented in this
Slide 21: Appendix
im F. Fo suirind Appendix
Slide 22: Second Quarter 2016 Awards & Accolades
Second Quarter 2016 Awards & Accolades Who’s Who Legal named FTI Consulting the 2016 Forbes magazine named FTI Consulting to inaugural list Arbitration Expert Firm of the Year and Compass of America’s Best Management Consulting Firms in Lexecon the 2016 Competition Economist Firm of the 17 categorie
Slide 23: Critical Thinking at the Critical Time
Critical Thinking at the Critical Time ™