Market Overview

Korn Ferry Beats Wall Street Q4 Estimates; Provides Q1 Guidance

Korn/Ferry International (NYSE: KFY) released its fiscal fourth-quarter earnings results after the closing bell on Monday.

The recruiting company reported both earnings and revenue that came in ahead of Wall Street expectations. Korn/Ferry also provided guidance for the fiscal first-quarter. Both its adjusted earnings and revenue range was at the high-end of current estimates.

In late trading, the stock was last up a little better than 2 percent to $18.50. During the regular session, KFY added almost 5 percent to close at $18.11.

Q4 Results Top Expectations

The company reported net income of $12.2 million or $0.25 per share, compared to $12 million or $0.25 per share, in last year's fourth-quarter.

On an adjusted basis, which is comparable to analysts' consensus, Korn/Ferry reported net income of $15.6 million or $0.32 per share, versus $13.3 million or $0.28 per share, in last year's corresponding period. This came in ahead of Wall Street consensus EPS estimates of $0.31 by a penny.

Total revenue in the quarter was $238.6 million from $207.6 million last year. Fee revenue was $227.9 million versus $198.1 million in last year's fourth-quarter. Heading into the report, Wall Street analysts had consensus revenue estimates of $223.58 million.

Q1 Guidance

Looking ahead to the first-quarter, Korn/Ferry said that it expects earnings per share of $0.19 to $0.27 and adjusted earnings per share of $0.26 to $0.32. This compares to current analysts' consensus EPS estimates of $0.28.

Fee revenue for Q1 is expected to be in a range between $215 million and $227 million. This compares to current consensus sales estimates of $217.47 million.

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