Organizational consulting firm Korn Ferry (NYSE: KFY) will be reporting results this Tuesday before market hours. Here’s what to expect.
Korn Ferry beat analysts’ revenue expectations by 3% last quarter, reporting revenues of $719.8 million, up 2.8% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but revenue guidance for next quarter slightly missing analysts’ expectations.
Is Korn Ferry a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Korn Ferry’s revenue to grow 2.2% year on year to $698.1 million, a reversal from the 3.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.24 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Korn Ferry has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average.
Looking at Korn Ferry’s peers in the professional staffing & hr solutions segment, some have already reported their Q2 results, giving us a hint as to what we can expect. First Advantage delivered year-on-year revenue growth of 112%, beating analysts’ expectations by 2.7%, and Barrett reported revenues up 10%, topping estimates by 2.6%. First Advantage traded up 2.6% following the results while Barrett was also up 5.7%.
Read our full analysis of First Advantage’s results here and Barrett’s results here.
There has been positive sentiment among investors in the professional staffing & hr solutions segment, with share prices up 6.4% on average over the last month. Korn Ferry is up 3.7% during the same time and is heading into earnings with an average analyst price target of $83.75 (compared to the current share price of $73.19).
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