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Korn Ferry (KFY) Posts Record Second-Quarter Earnings and Declares Quarterly Dividend of $0.12 Per Share

Wednesday, December 08, 2021 09:56 AM | Carl Pettit
Korn Ferry (KFY) Posts Record Second-Quarter Earnings and Declares Quarterly Dividend of $0.12 Per Share

On Dec. 8, the global consulting firm Korn Ferry (KFY) posted record second-quarter earnings and declared a quarterly dividend of $0.12 per share. As of 09:52 am EST today, KFY stock gained 3.40%.

Record Second-Quarter Earnings

Korn Ferry announced second-quarter earnings of $75.8 million. Adjusted diluted earnings per share came in at $1.53, which the company said was “an all-time high.” Adjusted revenue for the quarter was $639.4 million.

CEO Comments

“I am extremely pleased with our results during the fiscal second quarter, as Korn Ferry once again achieved all-time financial performance highs,” CEO Gary D. Burnison said in a press release. “We generated a record $639 million in fee revenue, up 47% year over year. Our diluted and adjusted diluted earnings per share, at $1.38 and $1.53, respectively, and Adjusted EBITDA margin of 21.1% were also record highs.”

Outlook

Korn Ferry expects the following — assuming no new major pandemic lockdowns (including emerging variants) rock the markets — looking ahead:

  • Q3 FY’22 fee revenue is expected to be in the $640 million to $660 million range.
  • Q3 FY’22 diluted earnings per share expected to fall in the $1.38 to $1.56 range.
  • Q3 FY’22 adjusted diluted earnings per share expected to be in the $1.42 to $1.58 range.

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