FTI Consulting : 1Q26 Investor Presentation

Published: 2026-05-13 10:32:13 ET FCN

Published on 05/13/2026 at 10:32 am EDT

Investor Presentation

FTI Consulting, Inc.

May 2026

FTI Consulting: Experts with Impact

FCN

Publicly Traded

$5.4B

Equity Market Capitalization (1)

1982

Year Founded

8,100+

Employees Worldwide

850+

Senior Managing Directors

Cities

Countries and Territories

Industry Practice Groups

Advisor to

99 of the world's top 100 law firms

95 of Fortune

Global 100 corporations are clients

Advisor to 82 of the top 100 firms on the Private Equity International 300 list

(1) All statistics above are as of December 31, 2025, except employees worldwide, equity market capitalization, Senior Managing Directors, cities and countries. Equity market capitalization has been calculated by multiplying the number of total shares outstanding on April 23, 2026, by the closing price per share reported on the New York Stock Exchange for April 30, 2026. Employees worldwide, Senior Managing Directors, cities and countries are as of March 31, 2026.

With offices in 83 cities and 32 countries and territories, FTI Consulting has a presence in every major financial center and every corner of the globe, and we successfully serve our clients wherever challenges and opportunities arise.

The Americas

Argentina

Brazil

British Virgin Islands

Canada

Cayman Islands

Colombia

Mexico

United States

Europe, Middle East, Africa

Belgium

Denmark

Finland

France

Germany

Ireland

Italy

Lebanon

Netherlands

Portugal

Qatar

Saudi Arabia

South Africa

Spain

Sweden

Switzerland

United Arab Emirates

United Kingdom

Asia

China

India

Japan

Singapore

South

Korea

Australia

Investment Thesis

Leading global business advisory firm with strong people and strong positions: corporations, law firms and governments come to us when there is a critical need

Organic growth strategy with an emphasis on profitable revenue growth

Committed to building a profitable business with sustainable underlying growth, regardless of economic conditions

Willingness to invest EBITDA in key growth areas where we have a right to win

Healthy balance sheet and strong cash flows with a commitment to return capital to our shareholders

Path toward sustained double-digit year-over-year Adjusted EPS growth over time

Business Snapshot

Transactions

Transformation

Turnaround & Restructuring

Strategic Communications

Corporate Reputation

Financial Communications

Public Affairs

Forensic and Litigation Consulting

Construction, Projects & Assets and Environmental Solutions

Data & Analytics

Dispute Advisory Services

Healthcare Risk Management & Advisory

Risk & Investigations

Economic Consulting

Antitrust & Competition Economics

Financial Economics

International Arbitration

Technology

Blockchain & Digital Assets

Information Governance, Privacy & Security

Investigations

Litigation

M&A, Antitrust and Competition

Revenues Snapshot

Q1 2026 Segment Revenues Q1 2026 Geographic Revenues

10%

18%

10%

42%

29%

5% 1%

65%

20%

Corporate Finance Forensic and Litigation Consulting

Economic Consulting

Technology Strategic Communications

North America EMEA

Asia Pacific

Latin America

Corporate Finance

Transactions

Diligence (Financial, Tax, HR, IT, Synergy and Regulatory)

Investment Banking

Merger Integration & Carve-Out

Valuation & Financial Advisory Services

Transformation

Cost Transformation

Data & Technology Transformation

HR Transformation

Office of the Chief Financial Officer Solutions & Finance Transformation

Operations & Supply Chain Transformation

Revenue Transformation

Strategy

Turnaround & Restructuring

Company Advisory

Creditor Advisory

Dispute Advisory & Litigation Support

Insolvency

Interim Management

Services

2,342

professionals

offices

countries and territories

(in thousands, except percentages and headcount data)

(Unaudited)

2023

2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

2025

Q1 2026

Segment Revenues

$1,346,678

$1,391,206

$343,645

$379,239

$404,896

$423,189

$1,550,969

$409,502

Segment Gross Profit Margin

32.1%

32.6%

35.1%

37.4%

33.2%

34.6%

35.9%

Segment Operating Income

$216,504

$225,711

$40,950

$78,128

$92,953

$76,730

$288,761

$85,230

Adjusted Segment EBITDA (1)

$230,837

$244,356

$55,947

$81,652

$96,413

$80,112

$314,124

$88,650

Adjusted Segment EBITDA Margin (1)

17.1%

17.6%

16.3%

21.5%

23.8%

18.9%

20.3%

21.6%

Utilization

60%

58%

57%

61%

63%

59%

60%

62%

Billable Professionals

2,215

2,286

2,249

2,188

2,312

2,297

2,342

(1) See accompanying financial tables and "End Notes: FTI Consulting Non-GAAP Financial Measures" for the reconciliation and definition of Adjusted Segment EBITDA, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure, and for the definition of Adjusted EBITDA Margin, which is a non-GAAP financial measure.

Corporate Finance (continued)

Segment Offering

Our Corporate Finance segment focuses on the strategic, operational, financial, transactional and capital needs of our clients around the world. Our clients include companies, boards of directors, investors, private equity sponsors, lenders, and other financing sources and creditor groups, governments and other interested parties.

We deliver a wide range of services centered around three core offerings: Transactions, Transformation and Turnaround & Restructuring.

Medium-Term Growth Opportunities

Enhance Transformation and Transactions

capabilities

Grow Turnaround & Restructuring globally

Deeper penetration of key industries e.g., Retail, Healthcare, Telecom, Media & Technology ("TMT"), Industrials, Automotive and Energy

Q1 2026 Key Financial Commentary

Revenues increased $65.9 million, or 19.2%, to $409.5 million for the three months ended March 31, 2026, primarily due to higher demand and realized bill rates for our turnaround & restructuring, transactions and transformation services. Excluding an estimated 2.5% positive impact from FX, revenues increased $57.4 million, or 16.7%.

Segment gross profit increased $35.0 million, or 31.2%, to $147.1 million for the three months ended March 31, 2026. Gross profit margin increased 3.3 percentage points for the three months ended March 31, 2026. The increase in gross profit margin was primarily due to a 5 percentage point increase in utilization and higher realized bill rates.

Adjusted Segment EBITDA was $88.7 million, or 21.6% of segment revenues, compared with

$55.9 million, or 16.3% of segment revenues, in the prior year quarter.

Forensic and Litigation Consulting

Services

offices

countries

1,543

professionals

(in thousands, except percentages and headcount data) (Unaudited)

2023

2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

2025

Q1 2026

Segment Revenues

$654,105

$690,211

$190,602

$186,517

$194,689

$192,879

$764,687

$192,878

Segment Gross Profit Margin

33.1%

32.6%

38.1%

35.3%

38.2%

31.8%

35.8%

33.9%

Segment Operating Income

$81,296

$77,490

$30,106

$29,071

$40,460

$21,586

$121,223

$23,085

Adjusted Segment EBITDA (1)

$88,109

$86,717

$37,523

$31,188

$42,616

$23,818

$135,145

$25,264

Adjusted Segment EBITDA Margin (1)

13.5%

12.6%

19.7%

16.7%

21.9%

12.3%

17.7%

13.1%

Utilization

57%

59%

57%

58%

54%

57%

Billable Professionals

1,447

1,542

1,509

1,482

1,533

1,541

1,543

Construction, Projects & Assets and Environmental Solutions ("Construction Solutions")

Environmental Cost & Damages Analyses

Expert Services in Delay, Disruption, Quantum & Damages

Project Delivery, Asset Management Advisory & Transformation

Technology Enablement, Data Intelligence & Construction Analytics

Data & Analytics

Data Strategy, Governance and Reconciliation

Data Visualization, Process Improvement and Business Intelligence

Machine Learning and Other Artificial Intelligence ("AI") Solutions

Remediation and Settlement Administration

Dispute Advisory Services

Claims in International Public Law

Complex Commercial and Regulatory Disputes

Energy-related Disputes

Environmental Dispute Resolution

Financial Products and Broker-dealer Disputes

Insurance-related Disputes

Intellectual Property

Labor and Employment

Healthcare Risk Management & Advisory

Disputes and Investigations

Financial Advisory

Managed Care & Value-based Care

Risk, Regulatory & Quality

Risk & Investigations

Accounting Advisory & Restatements

Anti-Bribery & Corruption Investigations

Anti-money Laundering Investigations

Cybersecurity Investigations

International Trade

Financial Regulatory Investigations

Forensic Accounting & Fraud Investigations

Geopolitical and Related Security Risk

Monitorships

Forensic and Litigation Consulting (continued)

Grow overseas businesses e.g., United Kingdom and Hong Kong

Medium-Term Growth Opportunities

Enhance Construction, Projects and Assets & Environmental Solutions, Cybersecurity and Data & Analytics capabilities

Segment Offering

Our Forensic and Litigation Consulting segment provides law firms, companies, boards of directors, government entities, private equity firms and other interested parties with a multidisciplinary and independent range of services across risk & investigations and disputes, supported by our data & analytics technology-enabled solutions, with a focus on highly regulated industries. Our services are centered around five core offerings: Construction Solutions, Data & Analytics, Dispute Advisory Services, Healthcare Risk Management & Advisory and Risk & Investigations, which includes our cybersecurity and financial services-related offerings.

Q1 2026 Key Financial Commentary

Revenues increased $2.3 million, or 1.2%, to $192.9 million for the three months ended March 31, 2026, primarily due to higher realized bill rates for our risk & investigations and construction solutions services, which was partially offset by lower demand for our dispute advisory services. Excluding an estimated 2.1% positive impact from FX, revenues decreased

$1.7 million, or 0.9%.

Segment gross profit decreased $7.2 million, or 9.9%, to $65.5 million for the three months ended March 31, 2026. Gross profit margin decreased 4.2 percentage points for the three months ended March 31, 2026. The decrease in gross profit margin was primarily due to a 2 percentage point decrease in utilization, which was partially offset by higher realized bill rates.

Adjusted Segment EBITDA was $25.3 million, or 13.1% of segment revenues, compared with $37.5 million, or 19.7% of segment revenues, in the prior year quarter.

Economic Consulting

Antitrust & Competition Economics

M&A-related Antitrust

Non-M&A-related Antitrust

Financial Economics

Contractual Claims

Rate Setting

Securities Litigation & Risk Management

Transfer Pricing

Valuation

International Arbitration

Business Valuations

Commercial and Treaty Disputes

Economic Damages

Litigation Support

Services

1,000

professionals

offices

countries

(in thousands, except percentages and headcount data) (Unaudited)

2023

2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

2025

Q1 2026

Segment Revenues

$771,374

$863,557

$179,861

$191,657

$173,086

$176,225

$720,829

$175,648

Segment Gross Profit Margin

28.3%

27.2%

23.0%

21.8%

15.0%

18.9%

19.7%

11.7%

Segment Operating Income (Loss)

$109,818

$104,090

$12,089

$12,807

$(5,823)

$(279)

$18,794

$(7,331)

Adjusted Segment EBITDA (1)

$115,807

$109,498

$14,431

$14,183

$(4,562)

$1,027

$25,079

$(5,882)

Adjusted Segment EBITDA Margin (1)

15.0%

12.7%

8.0%

7.4%

(2.6)%

0.6%

3.5%

(3.3)%

Utilization

67%

66%

62%

64%

55%

59%

61%

Billable Professionals

1,089

1,110

1,019

991

1,028

1,014

1,000

Economic Consulting (continued)

Segment Offering

Our Economic Consulting segment, including subsidiary Compass Lexecon LLC, provides law firms, companies, government entities and other interested parties with analyses of complex economic issues for use in international arbitration, legal and regulatory proceedings and strategic decision making and public policy debates around the world. We deliver a wide range of services centered around three core offerings: Antitrust & Competition Economics, Financial Economics and International Arbitration.

Medium-Term Growth Opportunities

Maintain leading position of Compass Lexecon in the U.S.

Grow overseas businesses e.g., EMEA, Australia and Asia

Develop adjacent businesses in the U.S. e.g., International Arbitration, Energy, Healthcare, TMT and Financial Services

Q1 2026 Key Financial Commentary

Revenues decreased $4.2 million, or 2.3%, to $175.6 million for the three months ended March 31, 2026, primarily due to lower demand for our non-M&A-related antitrust services, which was partially offset by higher demand for our financial economics and M&A-related antitrust services, and higher realized bill rates. Excluding an estimated 3.4% positive impact from FX, revenues decreased $10.3 million, or 5.7%.

Segment gross profit decreased $20.8 million, or 50.3%, to $20.6 million for the three months ended March 31, 2026. Gross profit margin decreased 11.3 percentage points for the three months ended March 31, 2026. The decrease in gross profit margin was primarily due to higher forgivable loan amortization, variable compensation and outside consultant expenses as a percentage of revenues, which was partially offset by higher realized bill rates.

Adjusted Segment EBITDA was $(5.9) million, or (3.3)% of segment revenues, compared with $14.4 million, or 8.0% of segment revenues, in the prior year quarter.

Technology

Blockchain & Digital Assets

Blockchain Managed Services

Cryptocurrency and Digital Asset Regulatory Compliance

Cryptocurrency Disputes and Investigations

Decentralized Due Diligence

Digital Asset Expert Services and Investigations

Enterprise Blockchain Innovation

Information Governance, Privacy & Security

Advisory on Governance, Policy, Standards & Execution, including for AI

Compliance and Risk Technology, including Governance, Risk and Compliance

Data Privacy Program Development, Implementation & Data Subject Access Requests

Data Migration, Remediation, Disposition and Protection

Legal Department Operations and Technology

Microsoft 365 and Copilot Readiness, Governance, Data Protection and Risk Management

Pixel, Ad Tracker and AdTech Advisory & Services

Post-data Breach Privacy Analysis & Response

Investigations

Digital Forensics & Collection

E-Discovery

Emerging Data Solutions

Expert Witness Testimony

Find Facts Fast Solutions

Litigation

End-to-end E-discovery Software and Solutions

Legal Hold & Preservation

Managed Review

M&A, Antitrust and Competition

Contracts for Pre- and Post-M&A Analysis and Repapering

Dawn Raids

Phase II Merger Investigations (EMEA)

Pre- and Post-M&A Data Separation and Remediation

"Second Request" Investigations under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (U.S.)

"Secondary Information Request" Investigations (Canada)

Services

665

professionals

offices

countries

(in thousands, except percentages and headcount data) (Unaudited)

2023

2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

2025

Q1 2026

Segment Revenues

$387,855

$417,637

$97,156

$83,599

$94,081

$99,047

$373,883

$102,323

Segment Gross Profit Margin

38.3%

34.7%

33.9%

29.6%

33.9%

34.7%

33.1%

32.6%

Segment Operating Income

$48,196

$41,875

$6,594

$1,560

$9,286

$10,669

$28,109

$7,703

Adjusted Segment EBITDA (1)

$62,711

$58,541

$11,592

$5,284

$13,644

$14,798

$45,318

$11,833

Adjusted Segment EBITDA Margin (1)

16.2%

14.0%

11.9%

6.3%

14.5%

14.9%

12.1%

11.6%

Billable Professionals

628

714

681

655

680

662

665

Technology (continued)

Segment Offering

Our Technology segment provides companies, law firms, private equity firms and government entities with a comprehensive global portfolio of digital insights and risk management, AI and data services. Our professionals help organizations better address risk as the growing volume and variety of enterprise and emerging data intersects with legal, regulatory and compliance needs. We deliver a wide range of expert and AI-powered solutions driven by five core client needs: Blockchain & Digital Assets, Information Governance, Privacy & Security, Investigations, Litigation, and M&A, Antitrust and Competition.

Medium-Term Growth Opportunities

Expand addressable market through new distribution channels for Consulting & Services.

Invest in new and adjacent services e.g., Information Governance, Privacy & Security Services and Contract Intelligence

Grow overseas businesses

Q1 2026 Key Financial Commentary

Revenues increased $5.2 million, or 5.3%, to $102.3 million for the three months ended March 31, 2026, primarily due to higher demand for our litigation and information governance, privacy & security services, which was partially offset by lower demand for our investigations and M&A-related "second request" services. Excluding an estimated 2.5% positive impact from FX, revenues increased $2.7 million, or 2.8%.

Segment gross profit increased $0.4 million, or 1.2%, to $33.3 million for the three months ended March 31, 2026. Gross profit margin decreased 1.3 percentage points for the three months ended March 31, 2026. The decrease in gross profit margin was primarily due to lower profitability of our hosting and processing services, which was partially offset by higher profitability of our consulting and review services.

Adjusted Segment EBITDA was $11.8 million, or 11.6% of segment revenues, compared with $11.6 million, or 11.9% of segment revenues, in the prior year quarter.

Strategic Communications

Corporate Reputation

Crisis and Issues Management

Cybersecurity and Data Privacy Communications

Digital, Analytics and Insights

Litigation Communications

People & Transformation

Financial Communications

Corporate Governance & Shareholder Activism

Environmental, Social and Governance & Sustainability

M&A Communications

Restructuring and Financial Issues

Public Affairs

Government Investigations

Government Relations

Public Affairs Research & Opinion Polling

Public Affairs Strategy

Public Policy Advocacy

Services

917

professionals

offices

countries

(in thousands, except percentages and headcount data) (Unaudited)

2023

2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

2025

Q1 2026

Segment Revenues

$329,230

$336,041

$87,018

$102,650

$89,415

$99,406

$378,489

$102,994

Segment Gross Profit Margin

36.2%

36.5%

34.9%

36.2%

38.2%

38.7%

37.0%

39.2%

Segment Operating Income

$47,167

$45,790

$8,725

$17,474

$15,865

$17,963

$60,027

$20,838

Adjusted Segment EBITDA (1)

$50,909

$49,969

$12,903

$18,481

$16,909

$19,039

$67,332

$21,890

Adjusted Segment EBITDA Margin (1)

15.5%

14.9%

14.8%

18.0%

18.9%

19.2%

17.8%

21.3%

Billable Professionals

971

981

937

892

904

907

917

Strategic Communications (continued)

Segment Offering

Our Strategic Communications segment develops and executes communications strategies to help management teams, boards of directors, law firms, governments and regulators manage change and mitigate risk surrounding transformational and disruptive events, including crises, transactions, investigations, disputes, regulation and legislation. We deliver a wide range of services centered around three core offerings: Corporate Reputation, Financial Communications and Public Affairs.

Medium-Term Growth Opportunities

Further develop large, complex client relationships

Enhance market share in highly regulated industries e.g., Financial Services, Energy, Healthcare, Industrials and TMT

Leverage FTI Consulting's services and platform to enhance client results

Q1 2026 Key Financial Commentary

Revenues increased $16.0 million, or 18.4%, to $103.0 million for the three months ended March 31, 2026, primarily due to higher demand for our corporate reputation, public affairs and financial communications services. Excluding an estimated 3.9% positive impact from FX, revenues increased $12.6 million, or 14.5%.

Segment gross profit increased $10.1 million, or 33.3%, to $40.4 million for the three months ended March 31, 2026. Gross profit margin increased 4.4 percentage points for the three months ended March 31, 2026. The increase in gross profit margin was primarily due to lower compensation expenses as a percentage of revenues.

Adjusted Segment EBITDA was $21.9 million, or 21.3% of segment revenues, compared with $12.9 million, or 14.8% of segment revenues, in the prior year quarter.

First Quarter 2026

Financial Fiverview

FY 2023 - Q1 2026 and FY 2026 Guidance: Revenues

$3,940 - $4,100

Disclaimer

FTI Consulting Inc. published this content on May 13, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2026 at 14:31 UTC.