Korn Ferry Files Q2 2024 10-Q Report
Ticker: KFY · Form: 10-Q · Filed: Dec 9, 2024 · CIK: 56679
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
Related Tickers: KFY
TL;DR
Korn Ferry's Q2 2024 10-Q is in. Check financials.
AI Summary
Korn Ferry (KFY) filed its 10-Q for the period ending October 31, 2024. The filing covers the second quarter of their fiscal year. Specific financial details and operational highlights for this period are detailed within the report.
Why It Matters
This filing provides investors with an update on Korn Ferry's financial performance and operational status for the second quarter of fiscal year 2024, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- KORN FERRY (company) — Filer of the 10-Q report
- 20241031 (date) — End of the reporting period
- 20241209 (date) — Filing date
- 0000056679 (company) — Central Index Key for Korn Ferry
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period ending October 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on December 9, 2024.
What is Korn Ferry's fiscal year end date?
Korn Ferry's fiscal year ends on April 30.
What is the SEC file number for Korn Ferry?
Korn Ferry's SEC file number is 001-14505.
What is the primary business address listed for Korn Ferry?
The primary business address is 1900 Avenue of the Stars, Suite 1500, Los Angeles, CA 90067.
Filing Stats: 4,595 words · 18 min read · ~15 pages · Grade level 18 · Accepted 2024-12-09 15:38:26
Key Financial Figures
- $0.01 — ich Registered Common Stock, par value $0.01 per share KFY New York Stock Exchange
Filing Documents
- kfy-20241031.htm (10-Q) — 1608KB
- kfy-20241031xq2fy25xexx311.htm (EX-31.1) — 10KB
- kfy-20241031xq2fy25xexx312.htm (EX-31.2) — 10KB
- kfy-20241031xq2fy25xexx321.htm (EX-32.1) — 6KB
- kfy-20241031_g1.jpg (GRAPHIC) — 4KB
- kfy-20241031_g2.jpg (GRAPHIC) — 3KB
- kfy.jpg (GRAPHIC) — 3KB
- kfy1.jpg (GRAPHIC) — 3KB
- kfy2.jpg (GRAPHIC) — 3KB
- 0001628280-24-050424.txt ( ) — 8938KB
- kfy-20241031.xsd (EX-101.SCH) — 47KB
- kfy-20241031_cal.xml (EX-101.CAL) — 90KB
- kfy-20241031_def.xml (EX-101.DEF) — 223KB
- kfy-20241031_lab.xml (EX-101.LAB) — 639KB
- kfy-20241031_pre.xml (EX-101.PRE) — 437KB
- kfy-20241031_htm.xml (XML) — 1738KB
Financial Information
Part I. Financial Information Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of October 31, 2024 (unaudited) and April 30, 2024 1 Condensed Consolidated Statements of Operat ions (unaudited) for the three and six months ended October 31, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) for the three and six months ended October 31, 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Equity (unaudited) for three and six months ended October 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows (unaudited) for the six months ended October 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 23 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.
Controls and Procedures
Controls and Procedures 40
Other Information
Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 41 Item 1A.
Risk Factors
Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 5. Other Information 41 Item 6. Exhibits 42
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements KORN FERRY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS October 31, 2024 April 30, 2024 (unaudited) (in thousands, except per share data) ASSETS Cash and cash equivalents $ 694,850 $ 941,005 Marketable securities 40,658 42,742 Receivables due from clients, net of allowance for doubtful accounts of $ 43,862 and $ 44,192 at October 31, 2024 and April 30, 2024, respectively 579,696 541,014 Income taxes and other receivables 55,033 40,696 Unearned compensation 64,265 59,247 Prepaid expenses and other assets 47,945 49,456 Total current assets 1,482,447 1,674,160 Marketable securities, non-current 231,956 211,681 Property and equipment, net 160,805 161,849 Operating lease right-of-use assets, net 162,441 160,464 Cash surrender value of company-owned life insurance policies, net of loans 236,928 218,977 Deferred income taxes 122,344 133,564 Goodwill 908,662 908,376 Intangible assets, net 76,504 88,833 Unearned compensation, non-current 122,263 99,913 Investments and other assets 22,303 21,052 Total assets $ 3,526,653 $ 3,678,869 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 44,051 $ 50,112 Income taxes payable 14,652 24,076 Compensation and benefits payable 346,434 525,466 Operating lease liability, current 38,526 36,073 Other accrued liabilities 274,120 298,792 Total current liabilities 717,783 934,519 Deferred compensation and other retirement plans 458,089 440,396 Operating lease liability, non-current 142,415 143,507 Long-term debt 397,336 396,946 Deferred tax liabilities 5,542 4,540 Other liabilities 22,623 21,636 Total liabilities 1,743,788 1,941,544 Stockholders' equity Common stock: $ 0.01 par value, 150,000 shares authorized, 78,232 and 77,460 shares issued and 51,748 and 51,983 shares outstanding at October 31, 2024 and April 30, 2024, respectively 368,260 414,885 Retained earnings 1,509,986 1,425,844 Accumulated other comprehensive loss, net ( 1