FCN earnings analysis
What we found in FCN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
FTI Consulting, Inc. posted a 9.5% revenue growth in Q1 2026, totaling $983.3 million, driven by advancements in Corporate Finance, Strategic Communications, and Technology segments. However, net income decreased to $57.6 million, down 6.8% year-over-year, reflecting elevated direct costs and higher interest expenses.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant Revenue Growth
- Revenue increased by $85.1 million, or 9.5%, to $983.3 million compared to Q1 2025.
- Strong Corporate Finance Performance
- Corporate Finance segment revenues rose 19.1% to $409.5 million from $343.6 million in Q1 2025.
- No Special Charges in 2026
- There were no special charges in Q1 2026 compared to $25.3 million recorded in the same period in 2025.
- EPS Improvement Year-over-Year
- Diluted EPS was $1.90 for Q1 2026, up $0.16 from $1.74 in Q1 2025.
- Reduced Cash Used in Operations
- Net cash used in operating activities decreased by 33.4% to $310.0 million from $465.2 million in Q1 2025.
- Stock Repurchase Program Active
- FTI repurchased 787,098 shares for approximately $126.8 million during Q1 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Rising Interest Expenses
- Interest expenses increased to $6.4 million in Q1 2026, compared to $1.0 million a year prior.
- Decline in Net Income
- Net income decreased by $4.2 million, or 6.8%, from $61.8 million in Q1 2025.
- Increased Unallocated Corporate Expenses
- Unallocated corporate expenses rose 130.8% to $45.6 million compared to $19.8 million in Q1 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.9
- Segment
- Corporate Finance: $409.5M
- Segment
- FLC: $192.9M
- Segment
- Economic Consulting: $175.6M
- Segment
- Technology: $102.3M
- Segment
- Strategic Communications: $103.0M
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads about the same as the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
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