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Korn Ferry (NYSE: KFY) reported its third-quarter fiscal 2025 results, showcasing a steady performance with fee revenue of $668.7 million. This figure remained consistent with the same quarter last year, although it marked a 2% increase when adjusted for constant currency.
The company’s net income attributable to Korn Ferry was $58.4 million, with a net income margin of 8.7%, slightly down by 10 basis points from the previous year. Adjusted EBITDA for the quarter stood at $114.5 million, reflecting a 190 basis points increase in margin to 17.1% compared to the previous year. The company’s diluted earnings per share (EPS) were $1.10, while the adjusted diluted EPS was $1.19. During the quarter, Korn Ferry repurchased 237,000 shares of stock for $17.9 million.
CEO Gary D. Burnison expressed satisfaction with the quarterly results, highlighting the strength of the business and its diversified offerings. He emphasized the opportunities presented by the evolving labor market, which requires companies to adapt and innovate in workforce management and technology adoption.
Korn Ferry Outperforms Expectations with Third-Quarter Results
Korn Ferry’s third-quarter performance beat market expectations. The company reported a diluted EPS of $1.10 and adjusted diluted EPS of $1.19, against the anticipated EPS of $1.13. The fee revenue of $668.7 million exceeded the projected revenue of $650.45 million, indicating a stronger-than-expected top-line performance.
Despite the slight miss on EPS, the company’s adjusted EBITDA margin showed improvement, increasing by 190 basis points to 17.1%. This improvement was primarily driven by disciplined cost management and enhanced consultant productivity.
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Korn Ferry Expects $680M-$700M in Q4 FY’25 Revenue
Looking ahead, Korn Ferry has provided guidance for the fourth quarter of fiscal 2025. The company expects fee revenue to range between $680 million and $700 million.
Diluted earnings per share are projected to be between $1.20 and $1.28. On an adjusted basis, the company anticipates adjusted diluted EPS to range from $1.22 to $1.30. This guidance reflects the company’s confidence in its ability to navigate the current economic landscape and its commitment to delivering value to shareholders.
Korn Ferry’s outlook assumes stable global geopolitical and economic conditions, financial markets, and foreign exchange rates. The company remains focused on leveraging its diversified business model to capture growth opportunities across different regions and industries. The strategic acquisition of Trilogy, effective November 1, 2024, is expected to contribute positively to the company’s performance in the coming quarters.
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
About the author
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird’s US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
