FTI Consulting strategic comms revenue up 19.2% in Q2

Global segment leader Mark McCall said ESG services were in demand, as were comms services to help companies retain talent.

FTI strategic comms leader Mark McCall.
FTI strategic comms leader Mark McCall.

WASHINGTON: FTI Consulting’s strategic communications revenue grew 19.2% year-over-year in Q2 to $67.8 million. 

The segment reported increased demand for corporate reputation and public affairs services in the quarter, which was measured in comparison to Q2 2020, when its revenue dipped 3.8% to $56.9 million. In Q2 2019, the segment posted revenue of $59.1 million, a 2.8% organic increase.

“It was a very strong quarter on top of a solid start to the year,” said global segment leader Mark McCall. 

Companies invested in ESG services in particular. McCall said this included projects such as benchmarking against competitors, developing reporting standards and helping companies with quantitative scores.

“We’ve had continued growth and investment in cybersecurity, business transformation and getting behind the energy and healthcare sectors,” he added.

Other areas of client need included strategic communications to secure and maintain talent, including conveying flexibility with return-to-work and hybrid office models.

On FTI’s Q2 earnings call, president and CEO Steven Gunby referenced the shifting COVID-19 environment and underscored the firm’s strong overall performance. FTI’s Q2 revenue of $711.5 million was a 17% increase on the year prior. Gunby credited the agency’s business strategy and its people for driving strong financial results.

Excluding the impact of foreign exchanges and acquisition-related revenue, FTI’s year-over-year revenue in Q2 increased 9.8%. Net income rose 30.3% to $62.8 million.

In addition to strategic comms, FTI’s forensic and litigation consulting, economic consulting and technology segments posted revenue increases. However, corporate finance and restructuring revenue decreased by 6.1% to $231 million. 

For all of 2020, FTI’s strategic communications revenue declined 5.9% to $228.7 million, according to PRWeek’s Agency Business Report 2021.

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