FTI Consulting, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsFTI Consulting is a global expert firm providing crisis and transformation consulting services across five segments.
What they do
FTI Consulting provides expert advisory services to organizations facing crisis, transformation, and complex business challenges. Its five reportable segments are Corporate Finance, Forensic and Litigation Consulting (FLC), Economic Consulting, Technology, and Strategic Communications. Services include transactions, transformation, turnaround & restructuring, disputes, investigations, data & analytics, antitrust economics, and communications. Revenue is derived primarily from professional services under time and expense contracts, with some fixed-fee and success-fee arrangements.
Revenue drivers
- Corporate Finance — Largest segment, contributing 41% of 2025 revenue. Generates fees from transactions, transformation, and turnaround & restructuring services.
- Forensic and Litigation Consulting (FLC) — Contributed 20% of 2025 revenue. Earns fees from risk & investigations, disputes, data & analytics, and healthcare risk management services.
- Economic Consulting — Contributed 19% of 2025 revenue. Provides economic analysis for antitrust, competition economics, financial economics, and international arbitration.
- Technology — Contributed 10% of 2025 revenue. Offers digital insights, AI-powered data services, and risk management solutions.
Recent performance
In Q2 2026, FTI Consulting reported record revenues of $993.5 million, up 5.3% year-over-year, driven by growth in Corporate Finance, Technology, and FLC. Net income was $57.8 million, down from $71.7 million in the prior year quarter, due to higher costs and interest expense. Diluted EPS was $1.99, with adjusted EPS of $2.16. Adjusted EBITDA was $104.5 million (10.5% of revenue), down from $111.6 million (11.8%) a year earlier. For the first half of 2026, revenues totaled $1.98 billion.
Strategy
Management emphasizes sustained investments in talent and a multiyear growth trajectory across the global platform. The company focuses on expanding capabilities in response to complex client environments, including transformation, risk, and digital demands. They renamed the Corporate Finance & Restructuring segment to Corporate Finance to better align with its activities. The board authorized an additional $370 million for share repurchases, reflecting a capital return strategy. They are investing in AI and data services within the Technology segment.
Risks
- Demand cyclicality — Revenue is sensitive to capital markets activity, M&A volume, and economic conditions, which can reduce demand for services.
- Event-driven concentration — A significant portion of revenue arises from event-driven work (e.g., restructurings, crises), leading to volatility in results.
- Litigation-related expenses — Extraordinary litigation-related expenses reduced EPS by $0.17 in Q2 2026 and could persist.
- Foreign exchange and geopolitical disruptions — International operations and geopolitical conflicts can affect demand and financial results.
Outlook
Management reaffirmed revenue guidance for 2026 but updated EPS guidance to a range of $8.70 to $9.30. They introduced adjusted EPS guidance of $9.10 to $9.70. While acknowledging potential 'zigs and zags' due to the event-driven nature of the business, they remain confident in the multiyear trajectory and the resilience of the platform.