Membership

Heidrick & Struggles Reports Third Quarter 2016 Financial Results

Heidrick & Struggles International, Inc. announced financial results for its third quarter ended September 30, 2016.

Consolidated net revenue (revenue before reimbursements) increased 3.7 percent, or $5.1 million, to $143.5 million from $138.4 million in the 2015 third quarter. Net revenue increased 4.1 percent on a constant currency basis.
The number of Executive Search and Leadership Consulting consultants was 356 at September 30, 2016 compared to 336 at June 30, 2016, and 334 at September 30, 2015.
Operating income of $12.0 million and operating margin of 8.4 percent, compares to operating income of $12.9 million and operating margin of 9.3 percent in the 2015 third quarter. Adjusted EBITDA(1) of $17.5 million and adjusted EBITDA margin of 12.2 percent, compares to Adjusted EBITDA of $18.2 million and EBITDA margin of 13.1 percent in the 2015 third quarter.
Reflecting the addition of 30 new consultants in the third quarter, productivity, as measured by annualized Executive Search and Leadership Consulting net revenue per consultant, was $1.5 million in the 2016 third quarter, compared to $1.6 million in the 2015 third quarter.
Completed the acquisitions of JCA Group, a distinguished London-based executive search advisory firm, and Philosophy IB, a boutique management consultancy firm based in New Jersey.