logo
  

Korn Ferry Q2 Profit Beats Estimates; Issues Q3 Guidance - Quick Facts

Korn Ferry (KFY) said it achieved all-time financial performance highs in its second quarter. Fee revenue was up 47% year over year.

Second quarter adjusted earnings per share increased to $1.53 from $0.54, prior year. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $1.37, for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to Korn Ferry was $75.8 million or $1.38 per share compared to $27.8 million or $0.51 per share, last year.

Total revenue increased to $643.4 million from $437.8 million, prior year. Fee revenue increased to $639.4 million from $435.4 million. Analysts on average had estimated $604.66 million in revenue.

For the third quarter, adjusted earnings per share is estimated to be in a range of $1.42 to $1.58, and fee revenue in the range of $640 million and $660 million. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.10 on revenue of $577.69 million.

The Board declared a quarterly dividend of $0.12 per share on December 7, 2021, which is payable on January 14, 2022, to stockholders of record on December 21, 2021.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tesla CEO Elon Musk announced that the luxury electric vehicle maker has started the production of Tesla Semi electric trucks, and the first delivery will be to food and beverages giant Pepsico Inc. starting December 1. In a tweet, Musk said, "Excited to announce start of production of Tesla Semi Truck with deliveries to @Pepsi on Dec 1st!" Ford Motor is increasing the entry-level price of its electric F-150 Lightning pickup citing rising costs and supply chain issues amid increasing demand. This is the second price hike after a recent increase in August. The starting price of the 2023 model year pickup will be raised by $5,000 by October 24, reports said citing an email statement. Constellation Brands, Inc. (STZ) said it delivered another quarter of strong business performance. Beer Business achieved double-digit net sales growth for the quarter, while Wine and Spirits net sales rose 1%. The solid top-line performance of its Beer and Wine and Spirits Businesses in the first half...
Follow RTT