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CHICAGO - Heidrick & Struggles International, Inc. (NASDAQ:HSII) reported fourth quarter results that exceeded analyst expectations, driven by growth across all business segments. The global executive search and consulting firm also provided a first quarter revenue outlook that was in line with Wall Street estimates.
For Q4 2024, Heidrick & Struggles posted adjusted earnings per share of $1.08, surpassing the analyst consensus of $0.64 by $0.44. Revenue came in at $276.2 million, beating expectations of $261.03 million and representing a 9.1% increase year-over-year.
"We finished 2024 on a strong note, highlighted by a fourth quarter performance that exceeded our expectations," said CEO Tom Monahan.
The company’s Executive Search segment led the way with 10.1% revenue growth to $202.5 million. On-Demand Talent revenue rose 3% to $42.3 million, while Heidrick Consulting revenue jumped 11.5% to $31.3 million.
Looking ahead, Heidrick & Struggles expects Q1 2025 revenue between $263 million and $273 million, compared to the analyst consensus of $264.4 million.
The company’s board of directors declared a quarterly cash dividend of $0.15 per share.
While delivering solid results, Heidrick & Struggles recorded a $43.3 million non-cash goodwill impairment charge related to its On-Demand Talent segment in Q4. For the full year 2024, adjusted net income increased 9.4% to $66.1 million.
The executive search firm enters 2025 focused on capitalizing on what it sees as "significant opportunity for client impact in a complex, volatile world," according to Monahan.
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