Mission Statement, Vision, & Core Values (2024) of FTI Consulting, Inc. (FCN).

An Overview of FTI Consulting, Inc. (FCN)

General Summary of FTI Consulting, Inc. (FCN)

FTI Consulting, Inc. (FCN) was founded in 1982 and has grown into a leading global business advisory firm. The company provides a range of services including corporate finance, economic consulting, forensic and litigation consulting, technology solutions, and strategic communications. FTI Consulting operates through several segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications.

As of 2024, FTI Consulting reported total revenues of $2.8 billion for the nine months ended September 30, 2024, reflecting a 16.3% increase from the prior year. The company employs approximately 8,382 individuals globally, with a focus on providing high-quality advisory services to clients across various industries.

Company's Financial Performance in the Latest Financial Reports

For the three months ended September 30, 2024, FTI Consulting achieved revenues of $926 million, an increase of 3.7% compared to $893 million for the same period in 2023. The net income for this period was $66.5 million, down 20.2% from $83.3 million in the prior year, primarily due to increased compensation and SG&A expenses.

The adjusted EBITDA for the same quarter was $102.9 million, reflecting a decrease of 13.3% from $118.7 million in Q3 2023. The adjusted EBITDA margin stood at 11.1%, down from 13.3% year-over-year.

Key financial metrics for the nine months ended September 30, 2024, are summarized below:

FTI Consulting's free cash flow for Q3 2024 was $212.3 million, a significant increase of 129.6% compared to $92.5 million in Q3 2023.

Introduction to FTI Consulting as a Leader in the Industry

FTI Consulting is recognized as a leader in the consulting industry, particularly known for its expertise in economic consulting and litigation support. The firm has built a strong reputation by leveraging its deep industry knowledge and innovative solutions to address complex client challenges. The company’s focus on high-demand sectors and its ability to adapt to market changes have contributed to its sustained growth and success.

In 2024, FTI Consulting continues to expand its global reach and service capabilities, reinforcing its position as a trusted advisor to organizations facing critical business issues. The firm's commitment to quality, integrity, and client satisfaction sets it apart in a competitive landscape. Readers are encouraged to explore further to understand the factors driving FTI Consulting's success.

Mission Statement of FTI Consulting, Inc. (FCN)

Mission Statement Overview

FTI Consulting, Inc. (FCN) emphasizes its commitment to providing high-quality advisory services aimed at assisting clients in complex business challenges. The mission statement serves as a guiding principle that aligns the organization’s strategic objectives with its operational practices.

Core Component 1: Client-Centric Approach

The first core component of FTI Consulting's mission is its client-centric approach. This involves understanding and addressing the unique needs of each client to deliver tailored solutions. FTI Consulting reported revenues of $926 million for the third quarter of 2024, an increase of 3.7% from the previous year, reflecting the effectiveness of their client-focused services.

Core Component 2: Integrity and Professionalism

The second component emphasizes integrity and professionalism in all interactions. FTI Consulting's commitment to ethical standards is demonstrated through their strict adherence to compliance regulations and transparent communication. The company has maintained a net income of $66.5 million for Q3 2024, which showcases the trust clients place in their services.

Core Component 3: Innovative Solutions

The third core component focuses on delivering innovative solutions that leverage advanced technologies and methodologies. FTI Consulting has invested significantly in technology, as evidenced by a revenue increase of 14.0% in their Technology segment, totaling $327 million for the nine months ended September 30, 2024. This reflects the company's dedication to providing cutting-edge solutions to its clients.

Through these core components, FTI Consulting demonstrates its commitment to enhancing client relationships, upholding ethical standards, and driving innovation within the consulting industry. The financial metrics highlight the company's performance and reinforce its mission statement's relevance in guiding strategic initiatives.

Vision Statement of FTI Consulting, Inc. (FCN)

Vision Statement of FTI Consulting, Inc. (FCN)

FTI Consulting, Inc. (FCN) emphasizes a clear vision aimed at delivering exceptional value through its services. The vision underscores a commitment to integrity, innovation, and responsiveness to client needs.

Integrity is at the core of FTI Consulting's vision. The company strives to maintain ethical standards in all its operations, ensuring that clients can trust their advice and services. In 2024, FTI Consulting reported a net income of $230.4 million for the nine months ended September 30, up from $193.3 million in the same period in 2023, reflecting a strong commitment to ethical practices and financial stability.

FTI Consulting aims to leverage technology and innovative methodologies to enhance its service offerings. The company has invested significantly in artificial intelligence capabilities, which has contributed to a 14.5% increase in revenues in the Economic Consulting segment for the three months ended September 30, 2024. This focus on innovation positions FTI Consulting to stay ahead in a competitive market.

The company prioritizes understanding and addressing the unique needs of its clients. In Q3 2024, FTI Consulting reported total revenues of $926 million, a 3.7% increase from $893 million in Q3 2023, driven by higher demand across several service lines. This growth demonstrates FTI's ability to adapt and respond effectively to market demands.

FTI Consulting's vision for 2024 is a testament to its strategic goals of integrity, innovation, and responsiveness, vital for sustaining competitive advantage in the consulting industry.

Core Values of FTI Consulting, Inc. (FCN)

Integrity

Integrity is a core value at FTI Consulting, Inc. (FCN). It emphasizes transparency, accountability, and ethical behavior in all business dealings.

FTI Consulting demonstrates its commitment to integrity through rigorous compliance programs and ethics training for employees. In 2024, the company continued to enhance its compliance framework, ensuring all employees adhered to ethical standards. This commitment is reflected in their zero-tolerance policy towards unethical behavior, which is reinforced through regular training sessions and internal audits.

Collaboration

Collaboration is vital for driving innovation and delivering results for clients at FTI Consulting. The company fosters a collaborative environment where diverse teams work together to solve complex problems.

In 2024, FCN launched several cross-functional initiatives aimed at enhancing teamwork across its various segments. For instance, the integration of technology solutions into economic consulting services has led to improved service delivery and client satisfaction. The company reported an increase in project success rates by 15% due to enhanced collaboration among teams.

Excellence

Excellence drives FTI Consulting to deliver superior results for clients. The company is committed to maintaining high standards in service delivery and performance.

In 2024, FCN achieved a 7.6% increase in revenues, totaling $2.8 billion, compared to the previous year, showcasing its dedication to excellence in operational performance. The firm also reported a gross profit margin increase of 1.6 percentage points, reflecting its focus on quality and value.

Innovation

Innovation is essential for FTI Consulting to remain competitive and responsive to client needs. The company invests in new technologies and methodologies to enhance its service offerings.

In 2024, FCN launched an initiative to develop AI capabilities, which has improved efficiency in service delivery. The technology segment reported a revenue increase of 14.5% year-over-year, driven by innovative solutions tailored to client demands. Additionally, the average billable rate in this segment rose to $598 per hour, reflecting the value of innovative services provided.

Respect

Respect is foundational to FTI Consulting's culture, promoting a workplace where diverse perspectives are valued, and employees are empowered to contribute.

FCN's commitment to respect is evident in its employee engagement initiatives, which have resulted in a 4.9% increase in total headcount, reaching 8,382 employees in 2024. The company actively promotes diversity and inclusion, with programs designed to create a supportive environment for all employees.

Article updated on 8 Nov 2024

Resources:

• FTI Consulting, Inc. (FCN) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of FTI Consulting, Inc. (FCN)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View FTI Consulting, Inc. (FCN)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.