Financial Highlights |
Financial highlights are as follows:
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Three Months Ended July 31, |
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2023 |
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2022 |
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Consolidated |
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(in thousands) |
Fee revenue |
$ |
699,189 |
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$ |
695,903 |
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Total revenue |
$ |
706,262 |
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$ |
703,148 |
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Net income attributable to Korn Ferry |
$ |
46,605 |
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$ |
77,247 |
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Net income attributable to noncontrolling interest |
580 |
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|
1,289 |
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Other income, net |
(13,577) |
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(775) |
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Interest expense, net |
4,740 |
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|
7,612 |
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Income tax provision |
18,420 |
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|
26,226 |
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Operating income |
56,768 |
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|
111,599 |
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Depreciation and amortization |
19,012 |
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|
16,229 |
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Other income, net |
13,577 |
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|
775 |
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Integration/acquisition costs |
4,128 |
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|
3,605 |
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Impairment of fixed assets |
123 |
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— |
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Impairment of right-of-use assets |
1,629 |
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— |
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Restructuring charges, net |
421 |
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— |
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Adjusted EBITDA(1)
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$ |
95,658 |
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$ |
132,208 |
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___________________
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(1) |
Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, further excludes integration/acquisition costs, impairment of fixed assets, impairment of right-of-use assets, and restructuring charges, net when applicable. |
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Financial Highlights by Operating Segment |
Financial highlights by reportable segments are as follows:
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Three Months Ended July 31, |
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2023 |
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2022 |
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Fee revenue |
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Total revenue |
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Adjusted EBITDA |
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Fee revenue |
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Total revenue |
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Adjusted EBITDA |
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(in thousands) |
Consulting |
$ |
168,088 |
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$ |
170,793 |
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$ |
25,180 |
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$ |
166,484 |
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$ |
168,735 |
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$ |
29,550 |
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Digital |
87,986 |
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|
88,012 |
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|
24,325 |
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|
83,761 |
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|
83,815 |
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|
24,178 |
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Executive Search: |
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North America |
127,498 |
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129,413 |
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|
28,756 |
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|
151,544 |
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|
152,884 |
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|
43,749 |
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EMEA |
46,776 |
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|
47,135 |
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|
5,638 |
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|
47,056 |
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|
47,329 |
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|
8,515 |
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Asia Pacific |
24,539 |
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|
24,610 |
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|
6,315 |
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|
26,381 |
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|
26,452 |
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|
7,351 |
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Latin America |
6,421 |
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|
6,422 |
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|
1,741 |
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|
7,808 |
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|
7,809 |
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|
2,617 |
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Professional Search & Interim |
142,179 |
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|
143,069 |
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|
24,329 |
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|
98,947 |
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|
100,052 |
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|
29,161 |
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RPO |
95,702 |
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|
96,808 |
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|
10,471 |
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|
113,922 |
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|
116,072 |
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|
17,709 |
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Corporate |
— |
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— |
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|
(31,097) |
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— |
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— |
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(30,622) |
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Consolidated |
$ |
699,189 |
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$ |
706,262 |
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$ |
95,658 |
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$ |
695,903 |
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$ |
703,148 |
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$ |
132,208 |
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