FTI Consulting's strategic communications segment saw a 3.7% revenue increase in Q4 to $72.4 million and a 7.1% jump to $286.7 million for 2022.
That figure compares to Q4 2021, when FTI's strategic comms division rose 15% to $69.9 million.
FTI said in a statement the change was "primarily due to higher demand for public affairs and financial communications services."
Mark McCall, FTI's strategic comms segment head, said, excluding impact from foreign currency translation, the strategic comms unit "delivered another quarter of double-digit topline revenue growth."
McCall added the segment increased its headcount by 19.2% "as part of our commitment and focus on attracting, developing and supporting professionals who are committed to doing great work for our clients."
"We continue to invest in our event-driven expertise and bring together capabilities across our global network on behalf of clients in areas such as crisis communications, transactions, [environmental, social and governance], cybersecurity and business transformation – all key areas of growth for our business," he said via email.
The comms segment fared better than FTI's economic consulting division in Q4, which decreased 0.2% to $172 million in the quarter.
FTI's other business segments were up across the board in the quarter. Technology grew 18.9% to $76.8 million; corporate financing and restructuring jumped 26.5% to $292.8 million; and forensic and litigation consulting increased 16.2% to $160.4 million.
For 2022, technology was up 11.4% to about $320 million; economic consulting fell 0.3% to $695.2 million; forensic and litigation consulting rose 9.2% to $638.5 million; and corporate financing and restructuring skyrocketed 15.9% to $1.1 billion.
FTI altogether reported a Q4 revenue of $774.4 million, up 14.5% compared to $676.2 million in the prior year quarter. For the full year, FTI posted revenue of $3 billion, a roughly 9.1% increase from $2.8 billion in 2021.
The Washington, DC-based firm estimated in its filing that total revenue for 2023 will range between $3.33 billion and $3.47 billion.
