Diana Marszalek 27 Jul 2018 // 5:27AM GMT
WASHINGTON, DC — Nearing a year under a new leadership regime, FTI Consulting's strategic communications segment Thursday reported Q2 2018 revenues rising to $57.5m, up 24.3% from the same period of time the year before, or 20.8% on a constant currency basis.
FTI credited the rise in revenue to an increase in both per-project and retainer-based business in the division's financial services and public affairs segments.
Adjusted segment EBITDA was $11.0m, or 19.1% of segment revenues, compared to $4.9m, or 10.5% of segment revenues, in the prior year quarter. The increase in adjusted segment EBITDA also was primarily due to higher revenues.
The quarter furthered the growth FTI saw in Q1 2018, during which the segment saw a turnaround in North American business.
The rebound is notable for the segment, which experienced a downturn in revenue during the first half of 2017, followed by a spate of executive changes.
FTI as a whole reported Q2 revenues rising to $512.1m, up 15.2% from Q2 2018, or 13.8% on a constant currency basis. The increase in revenues was primarily driven by higher demand within the corporate finance & restructuring, forensic and litigation consulting, strategic communications and economic consulting segments.
Thursday's earnings report come well into the first year of Mark 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.