Korn Ferry Guides Q1 Adj. EPS Below Estimates; Q4 Adj. EPS Meets View

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, consulting firm Korn Ferry, Inc. (KFY) provided earnings, adjusted earnings and fee revenue guidance for the first quarter.

For the first quarter, the company projects earnings in a range of $0.78 to $0.95 per share and adjusted earnings in a range of $0.84 to $1.00 per share on fee revenue between $668 million and $698 million.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $1.02 per share on revenues of $680.38 million for the quarter. Analysts' estimates typically exclude special items.

On Monday, the company declared a 20 percent higher quarterly cash dividend of $0.18 per share, payable on July 31, 2023 to stockholders of record on July 7, 2023.

For the fourth quarter, the company reported net income attributable to the company of $47.5 million or $0.91 per share, sharply lower than $91.7 million or $1.70 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.01 per share, compared to $1.75 per share in the year-ago quarter.

Total revenue for the quarter edged up to $738.1 million from $727.0 million in the same quarter last year. Revenue increased 3 percent at constant currency.

The Street was looking for earnings of $1.01 per share on revenues of $703.40 million for the quarter.

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