FTI Consulting shares hit record high after Q3 results beat estimates

FTI Consulting

26/10/2023 18:23

Oct 26 (Reuters) - **Shares of FTI Consulting  FCN.N 
rose by more than 16% to an all-time-high of $214.58 on Thursday
after the business and communications consultancy reported third
quarter results that beat analyst estimates
    ** Stock last up 14.9%, currently on track for biggest
one-day pct jump since April 28, 2016
    ** FCN posted adj earnings per share of $2.34 versus avg
analyst estimate of $1.84, per LSEG data
    ** FCN's revenue rose 15.1% to $893.26 million, higher than
the avg analyst estimate of $850.65 million, per LSEG data
    ** Co said revenue increase primarily due to increased
demand for its services across restructuring, investigations,
and corporate communication and reputation management
    ** FCN also raised the lower end of its 2023 full year
revenue forecast to between $3.35 billion and $3.4 billion,
compared with analyst estimates of $3.37 billion, per LSEG data
    ** Low end of EPS view also boosted, from range of $6.50 to
$7.20 per share to $6.70-$7.20 per share; current Street
estimate $6.70 per share
 ** FCN stock is now up nearly 33% year-to-date

 (Reporting by Chibuike Oguh in New York)
 ((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters
Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))