FTI Consulting Reports Q2 2026 Financial Results with Mixed Performance
FTI Consulting (FCN) reported mixed results for its second quarter of fiscal year 2026, showing a record revenue increase but lower adjusted EBITDA and GAAP EPS compared to the prior-year period. Revenue grew by 5.3% year over year or 6.5% excluding pass-through revenues, driven in part by strong performance across several segments including Technology (+18.4%) and Corporate Finance (+8.5%). However, higher direct costs and SG&A expenses offset revenue growth, leading to a decline in adjusted EBITDA margin from 11.8% to 10.5%. Extraordinary litigation-related expenses also impacted GAAP EPS by $0.17 per share. The company reaffirmed its full-year revenue guidance of $3.94 billion to $4.1 billion, but lowered its GAAP EPS forecast from $8.90–$9.60 to $8.70–$9.30 due to litigation costs. Adjusted EPS remains in the range of $9.10–$9.70 for 2026. FTI also repurchased 2.6 million shares at an average price of $150.84, spending a total of $390.9 million on buybacks. Despite strong demand in most markets and improved operating cash flow ($152.3 million), management highlighted risks from geopolitical disruptions affecting the Middle East business and timing challenges with case transitions in the U.K.
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Topics: adjusted_ebitda eps_guidance revenue