Diana Marszalek 27 Apr 2018 // 4:12AM GMT
WASHINGTON, DC — More than six months into a new leadership regime, FTI Consulting's strategic communications segment Thursday reported Q1 2018 revenues rising to $52.8m, up 20.7% from the same period of time the year before, or 14.1% on a constant currency basis.
Mark McCall, the segment’s CEO, said the lift was primarily “driven by a turnaround in North America,” which has added new clients including Equifax and Cigna to its roster. Both project and retainer-based revenues have been on the rise, he said.
Adjusted segment EBITDA was $9.9m, or 18.7% of segment revenues, compared to $4.3m, or 9.7% of segment revenues, in the prior year quarter. The increase in adjusted segment EBITDA was primarily due to higher revenues.
The earnings are a notable change for the segment, which experienced a downturn in revenue during the first half of last year, followed by a spate of executive changes.
FTI as a whole reported Q1 revenues rising to $497.8m, up 11.5% from Q1 2017, or 8.8% on a constant currency basis. The rise was driven largely by higher demand within the corporate finance & restructuring and forensic and litigation consulting segments.Those segments' revenues rose by 35% and 14.9% respectively.
Thursday’s earnings comes more than a half-year into McCall's tenure as the communications segment's global leader, a role he assumed in September when Ed Reilly stepped down as CEO. McCall had been the segment’s COO and head of America.
Brian Kennedy, who has been the group’s global head of energy & natural resources, has been leading firm’s strategic communications segment in the Americas since January.