SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 26, 2018
FTI CONSULTING, INC.
(Exact Name of Registrant as Specified in Charter)
| Maryland | 001-14875 | 52-1261113 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
555 12th Street NW, Washington, D.C. 20004
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (202) 312-9100
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425 |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐.
| ITEM 2.02. | Results of Operations and Financial Condition |
FTI Consulting, Inc. (“FTI Consulting”) uses a presentation from time to time in its discussions with investors and analysts (the “Presentation”). The Presentation includes FTI Consulting’s past and present financial results, operating data and other information. A copy of the Presentation is furnished as Exhibit 99.1 and has been posted to the FTI Consulting website at www.fticonsulting.com.
| ITEM 7.01. | Regulation FD Disclosure |
In the Presentation, FTI Consulting uses information derived from consolidated and segment financial information that may not be presented in its financial statements or prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Certain of these measures are considered “non-GAAP financial measures” under rules promulgated by the Securities and Exchange Commission. Specifically, FTI Consulting has referred to the following non-GAAP measures:
| • | Total Segment Operating Income |
| • | Adjusted EBITDA |
| • | Total Adjusted Segment EBITDA |
| • | Adjusted EBITDA Margin |
| • | Adjusted Net Income |
| • | Adjusted Earnings per Diluted Share |
| • | Free Cash Flow |
FTI Consulting has included the definitions of “Segment Operating Income (Loss)” and “Adjusted Segment EBITDA,” which are financial measures presented in accordance with GAAP, in order to more fully define the components of certain non-GAAP financial measures. FTI Consulting evaluates the performance of its operating segments based on Adjusted Segment EBITDA, and Segment Operating Income (Loss) is a component of the definition of Adjusted Segment EBITDA. FTI Consulting defines “Segment Operating Income (Loss)” as a segment’s share of consolidated operating income. FTI Consulting defines “Total Segment Operating Income (Loss),” which is a non-GAAP financial measure, as the total of Segment Operating Income for all segments, which excludes unallocated corporate expenses. FTI Consulting uses Segment Operating Income for the purpose of calculating Adjusted Segment EBITDA. FTI Consulting defines “Adjusted Segment EBITDA” as a segment’s share of consolidated operating income before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges.
FTI Consulting uses Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of its segments because FTI Consulting believes it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash.
FTI Consulting defines “Total Adjusted Segment EBITDA,” which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. FTI Consulting defines “Adjusted EBITDA,” which is a non-GAAP financial measure, as consolidated net income before income tax provision, other non-operating income (expense), depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt. FTI Consulting defines Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of total revenues. FTI Consulting believes that the non-GAAP financial measures, which exclude the effects of remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges, when considered together with its GAAP financial results and GAAP financial measures, provide management and investors with a more complete understanding of FTI Consulting’s operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of FTI Consulting’s competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in FTI Consulting’s industry. Therefore, FTI Consulting also believes that these measures, considered along with corresponding GAAP measures, provide management and investors with additional information for comparison of its operating results with the operating results of other companies.
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FTI Consulting defines “Adjusted Net Income” and “Adjusted Earnings per Diluted Share” (“Adjusted EPS”), which are non-GAAP financial measures, as net income (loss) and earnings (loss) per diluted share, respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, losses on early extinguishment of debt and the adjustment related to the impact of adopting the 2017 U.S. Tax Cuts and Jobs Act (the “2017 Tax Act”). FTI Consulting uses Adjusted Net Income for the purpose of calculating Adjusted EPS. Management of FTI Consulting uses Adjusted EPS to assess total company operating performance on a consistent basis. FTI Consulting believes that this non-GAAP financial measure, which excludes the effects of the remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, losses on early extinguishment of debt, and the adjustment related to the adoption of the 2017 Tax Act, when considered together with its GAAP financial results, provides management and investors with an additional understanding of its business operating results, including underlying trends.
FTI Consulting defines “Free Cash Flow” as net cash provided by (used in) operating activities less cash payments for purchases of property and equipment. We believe this non-GAAP financial measure, when considered together with our GAAP financial results, provides management and investors with an additional understanding of FTI Consulting’s ability to generate cash for ongoing business operations and other capital deployment.
Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in FTI Consulting’s Consolidated Statements of Comprehensive Income. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the Presentation.
The information included herein, including Exhibit 99.1 furnished herewith, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any filing pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing, except as expressly set forth by specific reference in such filing.
| ITEM 9.01. | Financial Statements and Exhibits |
| (d) | Exhibits |
| 99.1 | Second Quarter 2018 Investor Presentation of FTI Consulting, Inc. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, FTI Consulting, Inc. has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| FTI CONSULTING, INC. | ||||||
| Dated: July 27, 2018 | By: | /s/ CURTIS LU | ||||
| Curtis Lu | ||||||
| General Counsel | ||||||
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FTI Consulting, Inc. Second Quarter 2018 Earnings Conference Call Exhibit 99.1
Cautionary Note about Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, future capital allocations and expenditures, expectations, plans or intentions relating to acquisitions, share repurchases and other matters, business trends, new, or changes to, laws and regulations, including the 2017 U.S. Tax Cuts and Jobs Act (the “2017 Tax Act”), and other information that is not historical, including statements regarding estimates of our future financial results. When used in this presentation, words such as "anticipates," "estimates," "expects," “goals,” "intends," "believes,” "forecasts,” “objectives” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, estimates of our future financial results, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs or estimates will be achieved, and the Company's actual results may differ materially from our expectations, beliefs and estimates. The Company has experienced fluctuating revenues, operating income and cash flow in prior periods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, or changes in, the mix of services and products that we offer, the mix of the geographic locations where our clients are located or where services are performed, fluctuations in the price per share of our common stock, adverse financial, real estate or other market and general economic conditions, and other future events, which could impact each of our segments differently and could be outside our control, the pace and timing of the consummation and integration of past and future acquisitions, the Company's ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients, new laws and regulations, or changes thereto, including the 2017 Tax Act, and other risks described under the heading "Part I, Item 1A Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission (“SEC”) and in the Company's other filings with the SEC, including the risks set forth under "Risks Related to Our Reportable Segments" and "Risks Related to Our Operations.” We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.
Second Quarter 2018Financial Review (1) See “Financial Tables” and “End Notes: FTI Consulting Non-GAAP Financial Measures ” for the reconciliations and definitions of Adjusted Earnings Per Diluted Share and Adjusted EBITDA, which are non-GAAP financial measures, to the most directly comparable GAAP measures, and for the definition of Adjusted EBITDA Margin. Q2 2018 Q2 2018 Q1 2018 Q1 2018 % Variance Q2 2017 Q2 2017 % Variance Percentage Change in Revenues Excluding the Estimated Impact of Foreign Currency Translation for Q2 2018 vs. Q2 2017 Consolidated Results Revenues $ 512,098 $ 497,774 2.9 % $ 444,715 15.2 % 13.8 % Net Income (Loss) $ 43,609 $ 38,945 12.0 % $ (5,156 ) N/M Earnings (Loss) per Diluted Share $ 1.14 $ 1.04 9.6 % $ (0.13 ) N/M Adjusted Earnings per Diluted Share (1) $ 1.14 $ 1.04 9.6 % $ 0.40 185.0 % Adjusted EBITDA (1) $ 72,371 $ 72,294 0.1 % $ 40,788 77.4 % Adjusted EBITDA Margin (1) 14.1 % 14.5 % — 9.2 % — Segment Results Corporate Finance & Restructuring Revenues $ 141,355 $ 142,922 (1.1 )% $ 117,487 20.3 % 19.5 % Adjusted Segment EBITDA $ 35,777 $ 34,804 2.8 % $ 20,048 78.5 % Adjusted Segment EBITDA Margin 25.3 % 24.4 % — 17.1 % — Forensic and Litigation Consulting Revenues $ 133,527 $ 128,039 4.3 % $ 111,410 19.9 % 19.2 % Adjusted Segment EBITDA $ 27,615 $ 25,757 7.2 % $ 13,032 111.9 % Adjusted Segment EBITDA Margin 20.7 % 20.1 % — 11.7 % — Economic Consulting Revenues $ 133,308 $ 133,109 0.1 % $ 124,004 7.5 % 5.9 % Adjusted Segment EBITDA $ 15,472 $ 19,136 (19.1 )% $ 15,509 (0.2 ) Adjusted Segment EBITDA Margin 11.6 % 14.4 % — 12.5 % — Technology Revenues $ 46,429 $ 40,914 13.5 % $ 45,566 1.9 % 1.0 % Adjusted Segment EBITDA $ 7,508 $ 5,732 31.0 % $ 5,421 38.5 % Adjusted Segment EBITDA Margin 16.2 % 14.0 % — 11.9 % — Strategic Communications Revenues $ 57,479 $ 52,790 8.9 % $ 46,248 24.3 % 20.8 % Adjusted Segment EBITDA $ 10,967 $ 9,852 11.3 % $ 4,876 124.9 % Adjusted Segment EBITDA Margin 19.1 % 18.7 % — 10.5 % — All numbers in $000s, except for per share data and percentages
Second Quarter 2018 Cash Position and Capital Allocation Snapshot (1) Total debt excludes the reduction for deferred debt issue costs of $3.3 million, $3.5 million and $4.1 million as of June 30, 2018, March 31, 2018 and June 30, 2017, respectively. (2) See “Financial Tables” and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Free Cash Flow, which is a non-GAAP financial measure, to the most directly comparable GAAP measure. All numbers in $000s, except for DSOs Q2 2018 Q2 2018 Q1 2018 Q1 2018 Q2 2017 Q2 2017 Cash and cash equivalents $ 116,556 $ 152,044 $ 138,511 Accounts receivable, net $ 607,455 $ 583,588 $ 553,215 Days sales outstanding ("DSO") 101 101 95 95 103 Net cash provided by (used in) operating activities $ 34,615 $ (69,200 ) $ 10,887 Purchases of property and equipment $ (8,540 ) $ (7,680 ) $ (7,296 ) Purchase and retirement of common stock $ — $ (14,220 ) $ (65,595 ) Total Debt (1) $ 375,000 $ 445,000 $ 485,000 Free Cash Flow (2) $ 26,075 $ (76,880 ) $ 3,591
Financial Tables
Reconciliation of Net Income and Operating Income to Adjusted EBITDA: Three Months Ended June 30, 2018 and March 31, 2018 (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Adjusted EBITDA, which is a non-GAAP financial measure. All numbers in $000s Three Months Ended March 31, 2018 Corporate Finance & Restructuring Corporate Finance & Restructuring Forensic and Litigation Consulting Forensic and Litigation Consulting Economic Consulting Economic Consulting Technology Technology Strategic Communications Strategic Communications Unallocated Corporate Unallocated Corporate Total Total Net income $ 38,945 Interest income and other 1,800 Interest expense 6,244 Income tax provision 15,270 Operating income $ 33,211 $ 24,330 $ 17,648 $ 2,593 $ 8,365 $ (23,888 ) $ 62,259 Depreciation and amortization 802 1,028 1,364 3,077 593 901 7,765 Amortization of other intangible assets 791 399 124 62 894 — 2,270 Adjusted EBITDA (1) $ 34,804 $ 25,757 $ 19,136 $ 5,732 $ 9,852 $ (22,987 ) $ 72,294 Three Months Ended June 30, 2018 Corporate Finance & Restructuring Corporate Finance & Restructuring Forensic and Litigation Consulting Forensic and Litigation Consulting Economic Consulting Economic Consulting Technology Technology Strategic Communications Strategic Communications Unallocated Corporate Unallocated Corporate Total Total Net income $ 43,609 Interest income and other (2,474 ) Interest expense 6,583 Income tax provision 14,113 Operating income $ 34,041 $ 26,173 $ 14,024 $ 3,967 $ 9,508 $ (25,882 ) $ 61,831 Depreciation and amortization 953 1,131 1,377 3,527 586 914 8,488 Amortization of other intangible assets 783 311 71 14 873 — 2,052 Adjusted EBITDA (1) $ 35,777 $ 27,615 $ 15,472 $ 7,508 $ 10,967 $ (24,968 ) $ 72,371
Reconciliation of Net Income (Loss) to Adjusted Net Income and Earnings (Loss) Per Diluted Share to Adjusted Earnings Per Diluted Share: Three Months Ended June 30, 2018, March 31, 2018 and June 30, 2017 (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Net Income and Adjusted Earnings per Diluted Share, which are non-GAAP financial measures. (2) For the three months ended June 30, 2017, the Company reported a net loss. For the period, the basic weighted average common shares outstanding equals the diluted weighted average common shares outstanding for purposes of calculating U.S. GAAP earnings per share because potentially dilutive securities would be antidilutive. For non-GAAP purposes, the Adjusted Earnings per Diluted Share and diluted weighted average number of common shares outstanding presented herein reflect the impact of the inclusion of share-based awards that are considered dilutive based on the impact of the add-backs included in Adjusted Net Income above. All numbers in $000s, except for per share data Three Months Ended June 30, 2018 Three Months Ended June 30, 2018 Three Months Ended March 31, 2018 Three Months Ended March 31, 2018 Three Months Ended June 30, 2017 Three Months Ended June 30, 2017 Net income (loss) $ 43,609 $ 38,945 $ (5,156 ) Special charges — — 30,074 Tax impact of special charges — — (9,103 ) Remeasurement of acquisition-related contingent consideration — — 536 Tax impact of remeasurement of acquisition-related contingent consideration — — (204 ) Adjusted Net Income (1) $ 43,609 $ 38,945 $ 16,147 Earnings (Loss) per Diluted Share $ 1.14 $ 1.04 $ (0.13 ) Special charges — — 0.75 Tax impact of special charges — — (0.23 ) Remeasurement of acquisition-related contingent consideration — — 0.01 Adjusted Earnings per Diluted Share (1)(2) $ 1.14 $ 1.04 $ 0.40 Weighted average number of common shares outstanding—diluted (2) 38,271 37,612 39,932
Reconciliation of Net Income (Loss) and Operating Income (Loss) to Adjusted EBITDA: Three Months Ended June 30,2017 All numbers in $000s (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Adjusted EBITDA, which is a non-GAAP financial measure. Three Months Ended June 30, 2017 Corporate Finance & Restructuring Corporate Finance & Restructuring Forensic and Litigation Consulting Forensic and Litigation Consulting Economic Consulting Economic Consulting Technology Technology Strategic Communications Strategic Communications Unallocated Corporate Unallocated Corporate Total Total Net loss $ (5,156 ) Interest income and other (1,592 ) Interest expense 6,250 Income tax provision 527 Operating income (loss) $ 15,447 $ 1,183 $ 8,008 $ (1,568 ) $ (755 ) $ (22,286 ) $ 29 Depreciation and amortization 768 1,032 1,436 3,001 546 944 7,727 Amortization of other intangible assets 784 372 155 161 950 — 2,422 Special Charges 3,049 10,445 5,910 3,827 3,599 3,244 30,074 Remeasurement of acquisition-related contingent consideration — — — — 536 — 536 Adjusted EBITDA (1) $ 20,048 $ 13,032 $ 15,509 $ 5,421 $ 4,876 $ (18,098 ) $ 40,788
Reconciliation of Net Cash Provided by (Used in) Operating Activities to Free Cash Flow: Three Months Ended June 30, 2018, March 31, 2018 and June 30,2017 All numbers in $000s (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Free Cash Flow, which is a non-GAAP financial measure. Three Months Ended June 30, 2018 Three Months Ended June 30, 2018 Three Months Ended March 31, 2018 Three Months Ended March 31, 2018 Three Months Ended June 30, 2017 Three Months Ended June 30, 2017 Net cash provided by (used in) operating activities $ 34,615 $ (69,200 ) $ 10,887 Purchases of property and equipment (8,540 ) (7,680 ) (7,296 ) Free Cash Flow (1) $ 26,075 $ (76,880 ) $ 3,591
End NotesFTI Consulting Non-GAAP Financial Measures In this presentation, we sometimes use information derived from consolidated and segment financial information that may not be presented in our financial statements or prepared in accordance with generally accepted accounting principles ("GAAP"). Certain of these measures are considered “non-GAAP financial measures” under the Securities and Exchange Commission ("SEC") rules. Specifically, we have referred to the following non-GAAP financial measures in this presentation: Total Segment Operating Income Adjusted EBITDA Total Adjusted Segment EBITDA Adjusted EBITDA Margin Adjusted Net Income Adjusted Earnings per Diluted Share Free Cash Flow We have included the definitions of Segment Operating Income (Loss) and Adjusted Segment EBITDA below in order to more fully define the components of certain non-GAAP financial measures in this presentation. We define Segment Operating Income (Loss) as a segment’s share of Consolidated Operating Income. We define Total Segment Operating Income, which is a non-GAAP financial measure, as the total of Segment Operating Income (Loss) for all segments, which excludes unallocated corporate expenses. We use Segment Operating Income (Loss) for the purpose of calculating Adjusted Segment EBITDA. We define Adjusted Segment EBITDA as a segment’s share of Consolidated Operating Income before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We use Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash. We define Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of total revenues. We define Total Adjusted Segment EBITDA, which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. We define Adjusted EBITDA, which is a non-GAAP financial measure, as consolidated net income (loss) before income tax provision, other non-operating income (expense), depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt. We believe that the non-GAAP financial measures, which exclude the effects of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt, when considered together with our GAAP financial results and GAAP measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry. Therefore, we also believe that these measures, considered along with corresponding GAAP measures, provide management and investors with additional information for comparison of our operating results with the operating results of other companies. We define Adjusted Net Income and Adjusted Earnings per Diluted Share (“Adjusted EPS”), which are non-GAAP financial measures, as net income (loss) and earnings (loss) per diluted share ("EPS"), respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, losses on early extinguishment of debt and the impact of adopting the 2017 Tax Act. We use Adjusted Net Income for the purpose of calculating Adjusted EPS. Management uses Adjusted EPS to assess total Company operating performance on a consistent basis. We believe that this non-GAAP financial measure, which excludes the effects of the remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, losses on early extinguishment of debt and the impact of adopting the 2017 Tax Act, when considered together with our GAAP financial results, provides management and investors with an additional understanding of our business operating results, including underlying trends. We define Free Cash Flow as net cash provided by (used in) operating activities less cash payments for purchases of property and equipment. We believe this non-GAAP financial measure, when considered together with our GAAP financial results, provides management and investors with an additional understanding of the Company’s ability to generate cash for ongoing business operations and other capital deployment. Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive Income.
Appendix
Second Quarter 2018Select Geographic Review Percentage of Consolidated Revenues Revenue Growth Region Q2 2018 Q1 2018 Q2 2017 Q2 2018 vs. Q1 2018 Q2 2018 vs. Q2 2017 North America 69.4 % 70.1 % 72.6 % 1.8 % 10.1 % EMEA 22.5 % 20.9 % 19.0 % 10.8 % 36.3 % Asia Pacific 6.9 % 7.2 % 7.1 % (2.0 )% 10.9 % Latin America 1.2 % 1.8 % 1.3 % (28.9 )% 11.9 %
FTI Consulting named to Forbes magazine’s list of America's Best Management Consulting Firms for the third consecutive year in 18 sectors and functional areas FTI Consulting named an industry leader in 14 categories in the 2018 Best of Corporate Counsel survey, including top rankings in the Demonstrative Evidence Provider and IT Consultant Services categories Who's Who Legal named FTI Consulting and its Compass Lexecon subsidiary as Consulting Firm of the Year, Arbitration Consulting Firm of the Year, Investigations Forensic Accounting Firm of the Year and Competition Economics Firm of the Year for 2018 Who’s Who Legal named 42 Compass Lexecon professionals to its Competition Economists 2018 list Lindi Jarvis, Senior Managing Director in the firm’s Forensic & Litigation Consulting segment, recognized in the Global Investigations Review Women in Investigations 2018 guide Neal Hochberg, Senior Managing Director in the firm’s Forensic & Litigation Consulting segment, named one of Consulting magazine’s Top 25 Consultants of 2018 Second Quarter 2018 Awards & Accolades
