FTI Consulting Files Q3 2024 10-Q Report
Ticker: FCN · Form: 10-Q · Filed: Oct 24, 2024 · CIK: 887936
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
FTI Consulting's Q3 2024 10-Q is in. Check financials for the latest performance.
AI Summary
FTI Consulting, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial data and operational details for this period are presented.
Why It Matters
This report provides investors and stakeholders with a detailed look at FTI Consulting's financial performance and operational status during the third quarter of 2024, influencing investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- FTI CONSULTING, INC (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241024 (date) — Filing date of the report
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 24, 2024.
What is the company's Standard Industrial Classification (SIC) code?
The company's SIC code is 8742, for SERVICES-MANAGEMENT CONSULTING SERVICES.
What is the state of incorporation for FTI Consulting, Inc.?
FTI Consulting, Inc. is incorporated in Maryland (MD).
What is the fiscal year end for FTI Consulting, Inc.?
The fiscal year end for FTI Consulting, Inc. is December 31 (1231).
Filing Stats: 4,700 words · 19 min read · ~16 pages · Grade level 15.1 · Accepted 2024-10-24 07:29:56
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value FCN New York Stock Exchange
Filing Documents
- fcn-20240930.htm (10-Q) — 1412KB
- fti93024-10qex311.htm (EX-31.1) — 14KB
- fti93024-10qex312.htm (EX-31.2) — 14KB
- fti93024-10qex321.htm (EX-32.1) — 8KB
- fti93024-10qex322.htm (EX-32.2) — 8KB
- 0000887936-24-000141.txt ( ) — 5762KB
- fcn-20240930.xsd (EX-101.SCH) — 34KB
- fcn-20240930_cal.xml (EX-101.CAL) — 69KB
- fcn-20240930_def.xml (EX-101.DEF) — 119KB
- fcn-20240930_lab.xml (EX-101.LAB) — 481KB
- fcn-20240930_pre.xml (EX-101.PRE) — 310KB
- fcn-20240930_htm.xml (XML) — 730KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets— September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income—Three and Nine Months Ended Se ptember 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity—Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows— Nine Months Ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 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 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 36
—OTHER INFORMATION
PART II—OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 37 Item 1A.
Risk Factors
Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION FTI Consulting, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except per share data)
Financial Statements
Item 1. Financial Statements September 30, December 31, 2024 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 386,344 $ 303,222 Accounts receivable, net 1,184,475 1,102,142 Current portion of notes receivable 44,836 30,997 Prepaid expenses and other current assets 100,318 119,092 Total current assets 1,715,973 1,555,453 Property and equipment, net 150,379 159,662 Operating lease assets 206,945 208,910 Goodwill 1,240,280 1,234,569 Intangible assets, net 17,523 18,285 Notes receivable, net 108,450 75,431 Other assets 77,630 73,568 Total assets $ 3,517,180 $ 3,325,878 Liabilities and Stockholders' Equity Current liabilities Accounts payable, accrued expenses and other $ 201,806 $ 223,758 Accrued compensation 556,606 601,074 Billings in excess of services provided 64,764 67,937 Total current liabilities 823,176 892,769 Noncurrent operating lease liabilities 216,992 223,774 Deferred income taxes 138,562 140,976 Other liabilities 86,251 86,939 Total liabilities 1,264,981 1,344,458 Commitments and contingencies (Note 10) Stockholders' equity Preferred stock, $ 0.01 par value; shares authorized — 5,000 ; none outstanding — — Common stock, $ 0.01 par value; shares authorized — 75,000 ; shares issued and outstanding 35,949 (2024) and 35,521 (2023) 360 355 Additional paid-in capital 41,555 16,760 Retained earnings 2,345,143 2,114,765 Accumulated other comprehensive loss ( 134,859 ) ( 150,460 ) Total stockholders' equity 2,252,199 1,981,420 Total liabilities and stockholders' equity $ 3,517,180 $ 3,325,878 See accompanying notes to condensed consolidated financial statements 3 FTI Consulting, Inc. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (in thousands, except per share data) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues $ 926,019 $ 893,261 $ 2,803,728 $ 2,564,558 Operating expenses Direct cost of revenues 628,0