Korn Ferry Files Q1 2025 10-Q
Ticker: KFY · Form: 10-Q · Filed: Sep 6, 2024 · CIK: 56679
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: KFY
TL;DR
Korn Ferry's Q1 2025 10-Q is in. Check financials.
AI Summary
Korn Ferry (KFY) filed its 10-Q for the period ending July 31, 2024. The filing details the company's financial performance and position. Specific financial figures and operational details for the quarter and year-to-date are presented, reflecting the company's activities in the professional services sector.
Why It Matters
This filing provides investors and analysts with the latest financial data for Korn Ferry, crucial for understanding the company's performance in the competitive talent and consulting market.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Players & Entities
- KORN FERRY (company) — Filer
- 0001628280-24-039649 (other) — Accession Number
- 20240731 (date) — Period of Report
- 20240906 (date) — Filed as of Date
- 7361 (other) — Standard Industrial Classification
- DE (other) — State of Incorporation
- 0430 (date) — Fiscal Year End
- 10-Q (other) — Form Type
- 001-14505 (other) — SEC File Number
- LOS ANGELES (other) — City
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the period ended July 31, 2024.
What is Korn Ferry's Standard Industrial Classification code?
Korn Ferry's Standard Industrial Classification code is 7361, which falls under SERVICES-EMPLOYMENT AGENCIES.
When is Korn Ferry's fiscal year end?
Korn Ferry's fiscal year ends on April 30.
What is the SEC file number for Korn Ferry?
The SEC file number for Korn Ferry is 001-14505.
What were the dates for the comparable prior year quarter mentioned in the filing?
The comparable prior year quarter mentioned in the filing was from May 1, 2023, to July 31, 2023.
Filing Stats: 4,516 words · 18 min read · ~15 pages · Grade level 17.7 · Accepted 2024-09-06 13:56:53
Key Financial Figures
- $0.01 — ich Registered Common Stock, par value $0.01 per share KFY New York Stock Exchange
Filing Documents
- kfy-20240731.htm (10-Q) — 1177KB
- kfy-20240731xq1fy25xexx311.htm (EX-31.1) — 10KB
- kfy-20240731xq1fy25xexx312.htm (EX-31.2) — 10KB
- kfy-20240731xq1fy25xexx321.htm (EX-32.1) — 6KB
- kfy-20240731_g1.jpg (GRAPHIC) — 4KB
- kfy-20240731_g2.jpg (GRAPHIC) — 3KB
- kfy.jpg (GRAPHIC) — 3KB
- kfy1.jpg (GRAPHIC) — 3KB
- kfy2.jpg (GRAPHIC) — 3KB
- 0001628280-24-039649.txt ( ) — 7951KB
- kfy-20240731.xsd (EX-101.SCH) — 50KB
- kfy-20240731_cal.xml (EX-101.CAL) — 90KB
- kfy-20240731_def.xml (EX-101.DEF) — 246KB
- kfy-20240731_lab.xml (EX-101.LAB) — 662KB
- kfy-20240731_pre.xml (EX-101.PRE) — 463KB
- kfy-20240731_htm.xml (XML) — 1362KB
Financial Information
Part I. Financial Information Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of July 31, 2024 (unaudited) and April 30, 2024 1 Condensed Consolidated Statements of Income (unaudited) for the three months ended July 31, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the three months ended July 31, 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Equity (unaudited) for three months ended July 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows (unaudited) for the three months ended July 31, 2024 and 2023 5 Notes to Condensed Consolidated Unaudited Financial Statements 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.
Controls and Procedures
Controls and Procedures 33
Other Information
Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 34 Item 1A.
Risk Factors
Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34
Other Information
Item 5. Other Information 34 Item 6. Exhibits 35
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements KORN FERRY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS July 31, 2024 April 30, 2024 (unaudited) (in thousands, except per share data) ASSETS Cash and cash equivalents $ 633,376 $ 941,005 Marketable securities 40,626 42,742 Receivables due from clients, net of allowance for doubtful accounts of $ 46,714 and $ 44,192 at July 31, 2024 and April 30, 2024, respectively 573,019 541,014 Income taxes and other receivables 49,606 40,696 Unearned compensation 62,375 59,247 Prepaid expenses and other assets 56,479 49,456 Total current assets 1,415,481 1,674,160 Marketable securities, non-current 231,195 211,681 Property and equipment, net 159,522 161,849 Operating lease right-of-use assets, net 155,881 160,464 Cash surrender value of company-owned life insurance policies, net of loans 234,725 218,977 Deferred income taxes 124,180 133,564 Goodwill 908,485 908,376 Intangible assets, net 82,606 88,833 Unearned compensation, non-current 113,171 99,913 Investments and other assets 22,323 21,052 Total assets $ 3,447,569 $ 3,678,869 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 49,611 $ 50,112 Income taxes payable 23,775 24,076 Compensation and benefits payable 270,897 525,466 Operating lease liability, current 35,931 36,073 Other accrued liabilities 277,804 298,792 Total current liabilities 658,018 934,519 Deferred compensation and other retirement plans 469,583 440,396 Operating lease liability, non-current 137,218 143,507 Long-term debt 397,140 396,946 Deferred tax liabilities 4,173 4,540 Other liabilities 22,195 21,636 Total liabilities 1,688,327 1,941,544 Stockholders' equity Common stock: $ 0.01 par value, 150,000 shares authorized, 78,210 and 77,460 shares issued and 52,154 and 51,983 shares outstanding at July 31, 2024 and April 30, 2024, respectively 390,053 414,885 Retained earnings 1,468,648 1,425,844 Accumulated other comprehensive loss, net ( 104,860 )