FTI Consulting's Stock Rises on Upgraded Guidance
Shares of FTI Consulting experienced a 15% increase, reaching an all-time intraday high of $212.23, following the release of their third-quarter results. The Washington-based consultancy announced an upward revision to their full-year earnings and revenue guidance.
Improved Revenue Expectations
FTI Consulting now anticipates a full-year revenue between $3.35 billion and $3.4 billion, exceeding their previous guidance range of $3.33 billion to $3.4 billion. This upgrade reflects their consistent growth throughout the year.
Enhanced Profit Outlook
In addition to revising their revenue projection, FTI Consulting also adjusted their full-year profit expectations. They now estimate a per-share profit range of $6.70 to $7.20, compared to the previous forecast of $6.50 to $7.20 per share. This marks an optimistic outlook for the company's financial performance.
Strong Third-Quarter Results
FTI Consulting reported a third-quarter profit of $83.3 million, or $2.34 per share, surpassing the previous year's third-quarter profit of $77.3 million, or $2.15 per share. Their revenue for the quarter reached $893.3 million, demonstrating a 15% increase and outperforming analysts' expectations.
FTI Consulting is on track for a successful year, with their stock up by 34% in 2021.
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