Korn Ferry Guides Q1 Above Estimates As Q4 Results Top Estimates; Boosts Dividend
(RTTNews) - While reporting financial results for the fourth quarter on Thursday, consulting firm Korn Ferry (KFY) provided earnings, adjusted earnings and fee revenue guidance for the first quarter.
For the first quarter, the company projects earnings in a range of $1.05 to $1.15 per share and adjusted earnings in a range of $1.07 to $1.17 per share on fee revenue between $655 million and $675 million.
On average, five analysts polled by Thomson Reuters expect the company to report earnings of $1.06 per share on revenues of $685.88 million for the quarter. Analysts' estimates typically exclude special items.
For the fourth quarter, the company reported net income attributable to the company of $65.19 million or $1.24 per share, higher than $47.49 million or $0.91 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $1.26 per share, compared to $1.01 per share in the year-ago quarter.
Total revenue for the quarter declined 5.2 percent to $699.92 million from $738.12 million in the same quarter last year.
The Street was looking for earnings of $1.12 per share on revenues of $689.92 million for the quarter.
On Wednesday, the Company increased its regular quarterly dividend to $0.37 per share, which is payable on July 31, 2024 to stockholders of record on July 3, 2024.
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