Korn Ferry Guides Q2 Well Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, consulting firm Korn Ferry (KFY) provided earnings and fee revenue guidance for the second quarter of fiscal 2022, well above analysts' estimates.

For the second quarter, the company projects earnings in a range of $1.30 to $1.44 per share on fee revenue between $585 million and $615 million.

On average, five analysts polled by Thomson Reuters expect the company to report earnings of $0.92 per share on revenues of $519.64 million for the quarter. Analysts' estimates typically exclude special items.

On Tuesday, the company declared a quarterly dividend of $0.12 per share, payable on October 15, 2021 to stockholders of record on September 23, 2021.

For the second quarter, the company reported net income attributable to the company of $74.8 million or $1.37 per share, compared to a net loss of $30.8 million or $0.58 per share in the prior year.

Excluding items, adjusted earnings for the quarter were $1.37 per share, compared to adjusted loss of $0.19 per share last year. Total revenue for the quarter dropped to $588.1 million from $346.9 million last year. Quarterly fee revenue surged 70 percent to $585.4 million from last year.

The Street is looking for earnings of $1.07 per share on revenues of $540.51 million for the quarter.