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Dec 31, 2025
FTI Consulting Q4 2025 Earnings Report
FTI Consulting reported record fourth quarter 2025 revenues with double-digit growth and improved profitability, driven by strength in Corporate Finance and other segments.
Key Takeaways
Fourth quarter 2025 revenues increased 10.7% year-over-year to 990746000, while net income rose to 54531000 and Adjusted EBITDA improved to 106238000, reflecting margin expansion and strong segment performance.
Revenues grew 10.7% year-over-year to 990746000, led by Corporate Finance growth of 26.1%.
Net income increased to 54531000 compared to 49710000 in the prior year quarter.
Adjusted EBITDA rose to 106238000 with margin expanding to 10.7%.
Total billable headcount was 6421 at quarter end.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For full year 2026, FTI Consulting expects revenues between 3940000000 and 4100000000 and EPS between 8.90 and 9.60, with Adjusted EPS expected to align with EPS.
Positive Outlook
- 2026 revenue guidance range of 3940000000 to 4100000000.
- 2026 EPS guidance range of 8.90 to 9.60.
- Adjusted EPS expected to align with GAAP EPS.
- Continued investment in talent across segments.
- Strong momentum in Corporate Finance segment.
Challenges Ahead
- Economic Consulting revenues declined 14.5% year-over-year in Q4.
- Segment operating loss in Economic Consulting.
- Higher direct costs including variable compensation.
- Increase in income tax provision year-over-year.
- Interest expense increased compared to prior year quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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