Korn Ferry (KFY)

Korn Ferry to Report Quarterly Earnings via Live Webcast on June 23, 2026June 16, 2026 9:23 AM
Business Wire Korn Ferry (NYSE:KFY) today announced that the firm will release financial results for the fourth quarter of full fiscal year 2026 (ended April 30, 2026) on Tuesday, June 23, 2026. A press release will be issued before the market opens on Tuesday, June 23, 2026, followed by a live webcast at 12:00 pm EST. What:   Korn Ferry to Report Q4 FY2026 Earnings
Investor Live Webcast   When:   12:00 pm EST on Tuesday, June 23, 2026.   Where:   Live audio webcast and accompanying slides will be available at the following site:
https://ir.kornferry.com/events-and-presentations About Korn Ferry Korn Ferry is a global consulting firm that powers performance. We unlock the potential in your people and unleash transformation across your business—synchronizing strategy, operations, and talent to accelerate performance, fuel growth, and inspire a legacy of change. That’s why the world’s most forward-thinking companies across every major industry turn to us—for a shared commitment to lasting impact and the bold ambition to Be More Than. As the Official Talent & Organizational Consulting Partner of LA28, Korn Ferry is powering the nearly 5,000 people who power the Olympic Games—bringing in the right talent, building strong leaders, and shaping the structure and culture that will deliver an unforgettable experience for the world. View source version on businesswire.com: https://www.businesswire.com/news/home/20260616519273/en/ Investor Relations: Tiffany Louder, (214) 310-8407
Media: Dan Gugler, (310) 226-2645 Original: Korn Ferry to Report Quarterly Earnings via Live Webcast on June 23, 2026

Korn Ferry to Participate in Upcoming Investor ConferencesMay 27, 2026 3:01 PM
Business Wire Korn Ferry (NYSE: KFY) today announced it is participating in the Baird 2026 Global Consumer, Technology & Services Conference on Tuesday, June 2, 2026 and the William Blair 46th Annual Growth Stock Conference on Wednesday, June 3, 2026. Korn Ferry EVP, Chief Financial Officer and Chief Corporate Officer Robert Rozek will participate in a presentation at both events. The information for each conference is as follows: Baird 2026 Global Consumer, Technology & Services Conference
Tuesday, June 2, 2026 at 9:05 a.m. ET
The event will be broadcast live and accessible to the general public here. William Blair 46th Annual Growth Stock Conference
Wednesday, June 3, 2026 at 2:20 p.m. ET
The event will be broadcast live and accessible to the general public here. The conferences can also be accessed through Korn Ferry’s Investor Relations website: Investor Relations: Korn Ferry (KFY). An audio replay will be available after the event at the same website address. About Korn Ferry Korn Ferry is a global consulting firm that powers performance. We unlock the potential in your people and unleash transformation across your business—synchronizing strategy, operations, and talent to accelerate performance, fuel growth, and inspire a legacy of change. That’s why the world’s most forward-thinking companies across every major industry turn to us—for a shared commitment to lasting impact and the bold ambition to Be More Than. As the Official Talent & Organizational Consulting Partner of LA28, Korn Ferry is powering the nearly 5,000 people who power the Olympic Games—bringing in the right talent, building strong leaders, and shaping the structure and culture that will deliver an unforgettable experience for the world. View source version on businesswire.com: https://www.businesswire.com/news/home/20260527466117/en/ Investor Relations: Tiffany Louder, (214) 310-8407
Media: Dan Gugler, (310) 226-2645 Original: Korn Ferry to Participate in Upcoming Investor Conferences

Korn Ferry shares drop nearly 5% despite earnings beat as guidance tempers outlookMarch 9, 2026 9:43 AM
IH Market News
Korn Ferry (NYSE:KFY) reported third-quarter results on Monday that came in above Wall Street expectations but issued a cautious outlook for the upcoming quarter.Shares of the global consulting firm declined 4.73% in pre-market trading following the announcement, as investors reacted to the company’s guarded guidance.For the third quarter, Korn Ferry posted adjusted earnings per share of $1.28, surpassing the analyst consensus estimate of $1.23 by $0.05.Fee revenue totaled $717.4 million, representing a 7% year-over-year increase and significantly exceeding the consensus forecast of $692.44 million. Net income attributable to Korn Ferry rose 12% from the prior year to $65.3 million, while adjusted EBITDA increased 8% to $123.1 million, resulting in a margin of 17.2%.Looking ahead to the fourth quarter, the company projected earnings between $1.34 and $1.40 per share. The midpoint of $1.37 aligns with analysts’ expectations of $1.37. Korn Ferry also expects revenue in the range of $730 million to $750 million, with a midpoint of $740 million slightly above the consensus estimate of $732.7 million.“Our strong quarterly performance continues to reflect the evolution of our firm,” said Gary D. Burnison, CEO of Korn Ferry. “Today the world is enveloped by unprecedented levels of change – shifts in population, demographics and technological advancement that are converging to exert great impact on the way people live, work and consume.”Growth in fee revenue was recorded across all solution areas, led by Executive Search with a 13% increase, followed by Professional Search & Interim and Consulting, each growing 5%.The company also reported estimated remaining fees under existing contracts totaling $1.9 billion at the end of the quarter, marking an 11% increase compared with the same period last year.Korn Ferry stock price

Original: Korn Ferry shares drop nearly 5% despite earnings beat as guidance tempers outlook

Korn Ferry Announces Third Quarter Fiscal 2026 Results of OperationsMarch 9, 2026 6:45 AM
Business Wire
Highlights



Korn Ferry reports Q3 FY'26 fee revenue of $717.4 million, an increase of 7% year-over-year with growth in all solutions.



Net income attributable to Korn Ferry increased 12% year-over-year, with a margin of 9.1%.



Adjusted EBITDA increased 8% year-over-year, with a margin of 17.2%.



Diluted and adjusted diluted earnings per share were up 12% and 8% year-over-year, respectively.



Estimated remaining fees under existing contracts at the end of the third quarter was $1.9 billion, up 11% year-over-year, led by Digital +16%, Consulting +12% and RPO +10%.



Korn Ferry (NYSE: KFY), a global consulting firm, today announced third quarter fee revenue of $717.4 million. In addition, third quarter diluted earnings per share was $1.23 and adjusted diluted earnings per share was $1.28.


“Our strong quarterly performance continues to reflect the evolution of our firm,” said Gary D. Burnison, CEO, Korn Ferry. “Today the world is enveloped by unprecedented levels of change – shifts in population, demographics and technological advancement that are converging to exert great impact on the way people live, work and consume. This environment provides tremendous opportunity for Korn Ferry."


“I am pleased with the synchronization of our expertise, globality and solutions to solve our clients’ toughest performance challenges. Most of all, I am energized by our talented colleagues around the world who are committed to enabling people and organizations to Be More Than,” added Burnison. “Success begins and ends with talent. As such, we are proud to be a Founding Partner of the LA28 Olympic and Paralympic Games, powering the people who power the Olympic Games.”




Selected Financial Results








(dollars in millions, except per share amounts) (a)











 



 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Fee revenue







$






717.4






 






 






$






668.7






 






 






$






2,147.7






 






 






$






2,018.0






 








Total revenue







$






725.0






 






 






$






676.5






 






 






$






2,170.4






 






 






$






2,041.3






 








Estimated remaining fees under existing contracts (b)







$






1,850.8






 






 






$






1,669.4






 






 






$






1,850.8






 






 






$






1,669.4






 








Net income attributable to Korn Ferry







$






65.3






 






 






$






58.4






 






 






$






204.3






 






 






$






181.8






 








Net income attributable to Korn Ferry margin







 






9.1






%






 






 






8.7






%






 






 






9.5






%






 






 






9.0






%








Basic earnings per share







$






1.25






 






 






$






1.12






 






 






$






3.91






 






 






$






3.46






 








Diluted earnings per share







$






1.23






 






 






$






1.10






 






 






$






3.84






 






 






$






3.40






 








 







 






 






 






 






 






 






 








Adjusted Results (c):






 






Third Quarter






 






Year to Date








 






 






FY’26






 






FY’25






 






FY’26






 






FY’25








Adjusted EBITDA







$






123.1






 






 






$






114.5






 






 






$






368.3






 






 






$






342.7






 








Adjusted EBITDA margin







 






17.2






%






 






 






17.1






%






 






 






17.1






%






 






 






17.0






%








Adjusted net income attributable to Korn Ferry (d)







$






67.7






 






 






$






63.3






 






 






$






207.4






 






 






$






191.1






 








Adjusted basic earnings per share (d)







$






1.30






 






 






$






1.21






 






 






$






3.97






 






 






$






3.64






 








Adjusted diluted earnings per share (d)







$






1.28






 






 






$






1.19






 






 






$






3.89






 






 






$






3.57






 








____________________



(a)







Numbers may not total due to rounding.








(b)







Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.








(c)







Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, further adjusted to exclude integration/acquisition costs, impairment of fixed assets, impairment of right-of-use assets, gain on modification of an office lease, restructuring charges, net and management separation charges when applicable. Adjusted results on a consolidated basis are non-GAAP financial measures that adjust for the following, as applicable (see attached reconciliations):









 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Integration/acquisition costs







$






1.6






 






 






$






2.1






 






 






$






4.4






 






 






$






7.1






 








Restructuring charges, net







$






—






 






 






$






1.3






 






 






$






—






 






 






$






1.9






 








Impairment of fixed assets







$






—






 






 






$






0.5






 






 






$






—






 






 






$






0.5






 








Impairment of right-of-use assets







$






—






 






 






$






2.5






 






 






$






—






 






 






$






2.5






 








Gain on modification of office lease







$






—






 






 






$






—






 






 






$






(13.9






)






 






$






—






 








____________________



(d)







Adjusted net income attributable to Korn Ferry, Adjusted basic earnings per share and Adjusted diluted earnings per share are non-GAAP financial measures that adjust for the following, as applicable (see attached reconciliations):









 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Accelerated depreciation on Digital platform







$






1.7






 






 






$






—






 






 






$






13.8






 






 






$






—






 








Integration/acquisition costs







$






1.6






 






 






$






2.1






 






 






$






4.4






 






 






$






7.1






 








Restructuring charges, net







$






—






 






 






$






1.3






 






 






$






—






 






 






$






1.9






 








Impairment of fixed assets







$






—






 






 






$






0.5






 






 






$






—






 






 






$






0.5






 








Impairment of right-of-use assets







$






—






 






 






$






2.5






 






 






$






—






 






 






$






2.5






 








Gain on modification of office lease







$






—






 






 






$






—






 






 






$






(13.9






)






 






$






—






 








Tax effect on the adjusted items







$






(0.9






)






 






$






(1.6






)






 






$






(1.2






)






 






$






(2.7






)







The Company reported fee revenue in Q3 FY'26 of $717.4 million, an increase of 7% year-over-year (up 4% at constant currency). Fee revenue grew in all solutions year-over-year, led by Executive Search at 13%, followed by Professional Search & Interim and Consulting, both at 5%.


Net income attributable to Korn Ferry was $65.3 million with a margin of 9.1% in Q3 FY'26, compared to Q3 FY'25 net income attributable to Korn Ferry of $58.4 million with a margin of 8.7%, an increase of 40bps. Net income attributable to Korn Ferry increased from the year-ago quarter primarily due to an increase in fee revenue and the impact of adjusted items in item (d) above, partially offset by an increase in compensation and benefits expenses.


Adjusted EBITDA was $123.1 million in Q3 FY'26 compared to $114.5 million in Q3 FY'25. Adjusted EBITDA margin was 17.2% in Q3 FY'26, essentially flat compared to the year-ago quarter. The increase in Adjusted EBITDA was due to an increase in fee revenue, partially offset by an increase in compensation and benefits expenses.


Results by Solution




Selected Consulting Data








(dollars in millions) (a)











 



 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Fee revenue







$






166.9






 






 






$






158.7






 






 






$






509.7






 






 






$






493.3






 








Total revenue







$






170.2






 






 






$






161.4






 






 






$






518.8






 






 






$






501.5






 








 







 






 






 






 






 






 






 








Estimated remaining fees under existing contracts (b)







$






407.3






 






 






$






364.6






 






 






$






407.3






 






 






$






364.6






 








Ending number of consultants and execution staff (c)







 






1,524






 






 






 






1,632






 






 






 






1,524






 






 






 






1,632






 








Hours worked in thousands (d)







 






317






 






 






 






344






 






 






 






1,060






 






 






 






1,137






 








Average bill rate (e)







$






470






 






 






$






461






 






 






$






464






 






 






$






434






 








 







 






 






 






 






 






 






 








Adjusted Results (f):







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Adjusted EBITDA







$






28.4






 






 






$






28.0






 






 






$






87.5






 






 






$






86.4






 








Adjusted EBITDA margin







 






17.0






%






 






 






17.7






%






 






 






17.2






%






 






 






17.5






%








____________________



(a)







Numbers may not total due to rounding.








(b)







Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.








(c)







Represents number of employees originating, delivering and executing consulting services.








(d)







The number of hours worked by consultant and execution staff during the period.








(e)







The amount of fee revenue divided by the number of hours worked by consultants and execution staff.








(f)







Adjusted results exclude the following:









 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Restructuring charges, net







$






—






 






 






$






1.3






 






 






$






—






 






 






$






1.7






 








Gain on modification of office lease







$






—






 






 






$






—






 






 






$






(4.1






)






 






$






—






 







Fee revenue was $166.9 million in Q3 FY'26 compared to $158.7 million in Q3 FY'25, an increase of $8.2 million or 5% (up 2% on a constant currency basis). The year-over-year increase in Consulting fee revenue was primarily driven by a 2% increase in average bill rates.


Adjusted EBITDA was $28.4 million in Q3 FY'26 compared to $28.0 million in the year-ago quarter. Adjusted EBITDA margin was 17.0% in Q3 FY'26 compared to 17.7% in the year-ago quarter.




Selected Digital Data








(dollars in millions) (a)











 



 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Fee revenue







$






94.0






 






 






$






90.8






 






 






$






274.2






 






 






$






271.9






 








Total revenue







$






94.2






 






 






$






90.8






 






 






$






274.7






 






 






$






272.1






 








 







 






 






 






 






 






 






 








Estimated remaining fees under existing contracts (b)







$






428.0






 






 






$






369.6






 






 






$






428.0






 






 






$






369.6






 








Ending number of consultants







 






225






 






 






 






249






 






 






 






225






 






 






 






249






 








Subscription & License fee revenue







$






37.2






 






 






$






34.5






 






 






$






110.6






 






 






$






103.2






 








 







 






 






 






 






 






 






 








Adjusted Results (c):







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Adjusted EBITDA







$






29.1






 






 






$






28.4






 






 






$






85.4






 






 






$






84.2






 








Adjusted EBITDA margin







 






31.0






%






 






 






31.3






%






 






 






31.2






%






 






 






31.0






%








____________________



(a)







Numbers may not total due to rounding.








(b)







Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.








(c)







Adjusted results exclude the following:









 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Impairment of fixed assets







$






—






 






 






$






0.4






 






 






$






—






 






 






$






0.4






 








Gain on modification of office lease







$






—






 






 






$






—






 






 






$






(2.0






)






 






$






—






 







Fee revenue was $94.0 million in Q3 FY'26 compared to $90.8 million in Q3 FY'25, an increase of $3.2 million or 4% (essentially flat on a constant currency basis). The year-over-year increase in Digital fee revenue was primarily driven by an 8% increase in Subscription & License fee revenue.


Adjusted EBITDA was $29.1 million in Q3 FY'26, compared to $28.4 million in the year-ago quarter. Adjusted EBITDA margin was 31.0%, a slight decline from the year-ago quarter.




Selected Executive Search Data(a)








(dollars in millions) (b)











 



 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Fee revenue







$






231.9






 






 






$






204.6






 






 






$






682.2






 






 






$






619.2






 








Total revenue







$






233.8






 






 






$






206.6






 






 






$






687.9






 






 






$






624.9






 








 







 






 






 






 






 






 






 








Estimated remaining fees under existing contracts (c)







$






68.6






 






 






$






58.5






 






 






$






68.6






 






 






$






58.5






 








Ending number of consultants







 






563






 






 






 






560






 






 






 






563






 






 






 






560






 








Average number of consultants







 






566






 






 






 






558






 






 






 






562






 






 






 






551






 








Engagements billed







 






3,737






 






 






 






3,540






 






 






 






7,648






 






 






 






7,211






 








New engagements (d)







 






1,573






 






 






 






1,464






 






 






 






4,802






 






 






 






4,587






 








 







 






 






 






 






 






 






 








Adjusted Results (e):







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Adjusted EBITDA







$






58.2






 






 






$






51.2






 






 






$






173.4






 






 






$






152.0






 








Adjusted EBITDA margin







 






25.1






%






 






 






25.0






%






 






 






25.4






%






 






 






24.5






%








____________________



(a)







Executive Search is the sum of the individual Executive Search Reporting Segments described in our annual and quarterly reporting on Forms 10-K and 10-Q and is presented on a consolidated basis as it is consistent with the Company’s discussion of its Solutions, and financial metrics used by the Company’s investor base.








(b)







Numbers may not total due to rounding.








(c)







Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.








(d)







Represents new engagements opened in the respective period.








(e)







Executive Search Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures that adjust for the following:









 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Impairment of right-of-use assets







$






—






 






 






$






2.5






 






 






$






—






 






 






$






2.5






 








Impairment of fixed assets







$






—






 






 






$






0.2






 






 






$






—






 






 






$






0.2






 








Gain on modification of office lease







$






—






 






 






$






—






 






 






$






(3.7






)






 






$






—






 








Restructuring charges, net







$






—






 






 






$






—






 






 






$






—






 






 






$






0.2






 







Fee revenue was $231.9 million in Q3 FY'26 compared to $204.6 million in Q3 FY'25, an increase of $27.3 million or 13% (up 11% at constant currency). The year-over-year increase in fee revenue was driven by an increase in both the number of engagements billed and the weighted-average fee billed per engagement. The Company experienced fee revenue growth in all regions.


Adjusted EBITDA was $58.2 million in Q3 FY'26 compared to $51.2 million in the year-ago quarter, an increase of 14% year-over-year. Adjusted EBITDA margin was 25.1%, essentially flat compared to the year-ago quarter. The increase in Adjusted EBITDA was primarily due to an increase in fee revenue, partially offset by an increase in compensation and benefits expenses.




Selected Professional Search & Interim Data








(dollars in millions) (a)











 



 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Fee revenue







$






137.0






 






 






$






130.0






 






 






$






412.0






 






 






$






372.8






 








Total revenue







$






138.2






 






 






$






130.9






 






 






$






415.8






 






 






$






375.6






 








 







 






 






 






 






 






 






 








Permanent Placement:







 






 






 






 






 






 






 








Fee revenue







$






51.7






 






 






$






47.9






 






 






$






162.6






 






 






$






152.9






 








Estimated remaining fees under existing contracts (b)







$






15.3






 






 






$






12.8






 






 






$






15.3






 






 






$






12.8






 








Engagements billed







 






1,715






 






 






 






1,675






 






 






 






3,847






 






 






 






3,780






 








New engagements (c)







 






901






 






 






 






883






 






 






 






2,868






 






 






 






2,802






 








Ending number of consultants







 






292






 






 






 






296






 






 






 






292






 






 






 






296






 








Interim:







 






 






 






 






 






 






 








Fee revenue







$






85.3






 






 






$






82.1






 






 






$






249.4






 






 






$






219.9






 








Estimated remaining fees under existing contracts (b)







$






106.6






 






 






$






111.5






 






 






$






106.6






 






 






$






111.5






 








Average bill rate (d)







$






149






 






 






$






129






 






 






$






143






 






 






$






134






 








Average weekly billable consultants (e)







 






1,257






 






 






 






1,324






 






 






 






1,238






 






 






 






1,124






 








 







 






 






 






 






 






 






 








Adjusted Results (f):







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Adjusted EBITDA







$






29.1






 






 






$






27.3






 






 






$






87.3






 






 






$






80.2






 








Adjusted EBITDA margin







 






21.2






%






 






 






21.0






%






 






 






21.2






%






 






 






21.5






%








____________________



(a)







Numbers may not total due to rounding.








(b)







Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.








(c)







Represents new engagements opened in the respective period.








(d)







Fee revenue from interim divided by the number of hours worked by consultants.








(e)







The number of billable consultants based on a weekly average in the respective period.








(f)







Adjusted results exclude the following:









 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Integration/acquisition costs







$






1.6






 






 






$






2.0






 






 






$






4.4






 






 






$






4.4






 








Gain on modification of office lease







$






—






 






 






$






—






 






 






$






(2.6






)






 






$






—






 







Fee revenue was $137.0 million in Q3 FY'26 compared to $130.0 million in Q3 FY'25, an increase of $7.0 million or 5% (up 3% at constant currency). Fee revenue increased due to higher fee revenues in both Permanent Placement and Interim. The year-over-year increase in permanent placement fee revenue was driven by an increase in both the number of engagements billed and the weighted-average fee billed per engagement. The year-over-year increase in interim fee revenue was primarily due to a 16% increase in average bill rate.


Adjusted EBITDA was $29.1 million in Q3 FY'26 compared to $27.3 million in the year-ago quarter. Adjusted EBITDA margin was 21.2%, essentially flat compared to the year-ago quarter. The increase in Adjusted EBITDA was due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and cost of services.




Selected Recruitment Process Outsourcing ("RPO") Data








(dollars in millions) (a)











 



 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Fee revenue







$






87.5






 






 






$






84.7






 






 






$






269.6






 






 






$






260.8






 








Total revenue







$






88.6






 






 






$






86.9






 






 






$






273.1






 






 






$






267.1






 








 







 






 






 






 






 






 






 








Estimated remaining fees under existing contracts (b)







$






825.0






 






 






$






752.4






 






 






$






825.0






 






 






$






752.4






 








RPO new business (c)







$






54.4






 






 






$






209.9






 






 






$






406.7






 






 






$






414.6






 








 







 






 






 






 






 






 






 








Adjusted Results (d):







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Adjusted EBITDA







$






13.6






 






 






$






12.7






 






 






$






42.2






 






 






$






38.1






 








Adjusted EBITDA margin







 






15.6






%






 






 






15.0






%






 






 






15.7






%






 






 






14.6






%








____________________



(a)







Numbers may not total due to rounding.








(b)







Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.








(c)







Estimated total value of a contract at the point of execution of the contract.








(d)







Adjusted results exclude the following:









 







Third Quarter






 






Year to Date








 







FY’26






 






FY’25






 






FY’26






 






FY’25








Gain on modification of office lease







$






—






 






 






$






—






 






 






$






(1.5






)






 






$






—






 







Fee revenue was $87.5 million in Q3 FY'26 compared to $84.7 million in Q3 FY'25, an increase of $2.8 million or 3% (up 1% at constant currency). RPO fee revenue increased primarily due to new logo clients in North America.


Adjusted EBITDA was $13.6 million in Q3 FY'26 compared to $12.7 million in the year-ago quarter. Adjusted EBITDA margin increased 60bps to 15.6% in Q3 FY'26. The increase in Adjusted EBITDA and Adjusted EBITDA margin both resulted from an increase in fee revenue, partially offset by an increase in compensation and benefits expense.


Outlook


Assuming no material negative impact from the recent Middle East conflict and that other worldwide geopolitical conditions, economic conditions, financial markets and foreign exchange rates remain steady, on a consolidated basis:



Q4 FY’26 fee revenue is expected to be in the range of $730 million and $750 million; and



Q4 FY’26 diluted earnings per share is expected to range between $1.34 to $1.40.



Earnings Conference Call Webcast


The earnings conference call will be held today at 12:00 PM (EDT) and hosted by CEO Gary Burnison, CFO Robert Rozek, SVP Business Development & Analytics Gregg Kvochak and VP Investor Relations Tiffany Louder. The conference call will be webcast and available online at ir.kornferry.com. We will also post to the investor relations section of our website earnings slides, which will accompany our webcast, and other important information, and encourage you to review the information that we make available on our website.


About Korn Ferry


Korn Ferry is a global consulting firm that powers performance. We unlock the potential in your people and unleash transformation across your business—synchronizing strategy, operations, and talent to accelerate performance, fuel growth, and inspire a legacy of change. That’s why the world’s most forward-thinking companies across every major industry turn to us—for a shared commitment to lasting impact and the bold ambition to Be More Than.


Forward-Looking Statements


Statements in this press release and our conference call that relate to our outlook, projections, goals, strategies, future plans and expectations, including statements relating to expected labor market conditions, expected demand for and relevance of our products and services, expected results of our business diversification strategy, impact of global events on our business, and other statements of future events or conditions are forward-looking statements that involve a number of risks and uncertainties. Words such as “believes”, “expects”, “anticipates”, “goals”, “estimates”, “guidance”, “may”, “should”, “could”, “will” or “likely”, and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Such statements are based on current expectations; actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties that are beyond the control of Korn Ferry. The potential risks and uncertainties include those relating to global and local political and or economic developments in or affecting countries where we have operations, such as inflation, trade wars, interest rates, labor market conditions, global slowdowns, or recessions, competition, geopolitical tensions, including the recent Middle East conflict, shifts in global trade patterns, changes in demand for our services as a result of automation, dependence on and costs of attracting and retaining qualified and experienced consultants, impact of inflationary pressures on our profitability, our ability to maintain relationships with customers and suppliers and retaining key employees, maintaining our brand name and professional reputation, potential legal liability and regulatory developments, portability of client relationships, consolidation of or within the industries we serve, changes and developments in government laws and regulations, evolving investor and customer expectations with regard to corporate responsibility matters, currency fluctuations in our international operations, risks related to growth, alignment of our cost structure, including as a result of recent workforce, real estate, and other restructuring initiatives, restrictions imposed by off-limits agreements, reliance on information processing systems, cyber security vulnerabilities or events, changes to data security, data privacy, and data protection laws, dependence on third parties for the execution of critical functions, limited protection of our intellectual property, our ability to enhance, develop and respond to new technology, including artificial intelligence, our ability to successfully recover from a disaster or other business continuity problems, employment liability risk, an impairment in the carrying value of goodwill and other intangible assets, treaties, or regulations on our business and our Company, deferred tax assets that we may not be able to use, our ability to develop new products and services, changes in our accounting estimates and assumptions, the utilization and billing rates of our consultants, seasonality, the use of social media platforms, the ability to effect acquisitions and integrate acquired businesses, resulting organizational changes, our indebtedness, and those relating to the ultimate magnitude and duration of any pandemic or outbreaks. For a detailed description of risks and uncertainties that could cause differences from our expectations, please refer to Korn Ferry’s periodic filings with the Securities and Exchange Commission. Korn Ferry disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Use of Non-GAAP Financial Measures


This press release contains financial information calculated other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). In particular, it includes:



Adjusted net income attributable to Korn Ferry, adjusted to exclude accelerated depreciation on our Digital platform, integration/acquisition costs, restructuring charges, impairment of fixed assets, impairment of right-of-use assets and gain on modification of an office lease, net of income tax effect;



Adjusted basic and diluted earnings per share, adjusted to exclude cost associated with accelerated depreciation on our Digital platform, integration/acquisition costs, restructuring charges, impairment of fixed assets, impairment of right-of-use assets and gain on modification of an office lease, net of income tax effect;



Constant currency (calculated using a quarterly average) percentages that represent the percentage change that would have resulted had exchange rates in the prior period been the same as those in effect in the current period; and



Consolidated and Executive Search Adjusted EBITDA, which is earnings before interest, taxes, depreciation and amortization, further adjusted to exclude integration/acquisition costs, restructuring charges, impairment of fixed assets, impairment of right-of-use assets and gain on modification of an office lease, net when applicable, and Consolidated and Executive Search Adjusted EBITDA margin.



This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.


Management believes the presentation of non-GAAP financial measures in this press release provides meaningful supplemental information regarding Korn Ferry’s performance by excluding certain items that may not be indicative of Korn Ferry’s ongoing operating results. These non-GAAP financial measures are performance measures and are not indicative of the liquidity of Korn Ferry. These items, which are described in the footnotes in the attached reconciliations, represent 1) costs associated with previous acquisitions, such as legal and professional fees, retention awards and on-going integration expenses, 2) gain on modification of an office lease where the Company received lease incentives to shorten the lease term, 3) restructuring charges, net to align workforce to eliminate excess capacity resulting from challenging macroeconomic business environment, 4) accelerated depreciation associated with the decision to sunset our Digital platform, 5) impairment of fixed assets primarily due to software impairment charge in our Digital segment and 6) impairment of right-of-use assets due to the decision to terminate and sublease some of our offices. The use of non-GAAP financial measures facilitates comparisons to Korn Ferry’s historical performance. Korn Ferry includes non-GAAP financial measures because management believes they are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its evaluation of Korn Ferry’s ongoing operations and financial and operational decision-making. Adjusted net income attributable to Korn Ferry, adjusted basic and diluted earnings per share and Consolidated and Executive Search Adjusted EBITDA, exclude certain charges that management does not consider on-going in nature and allows management and investors to make more meaningful period-to-period comparisons of the Company’s operating results. Management further believes that Consolidated and Executive Search Adjusted EBITDA is useful to investors because it is frequently used by investors and other interested parties to measure operating performance among companies with different capital structures, effective tax rates and tax attributes and capitalized asset values, all of which can vary substantially from company to company. In the case of constant currency percentages, management believes the presentation of such information provides useful supplemental information regarding Korn Ferry's performance as excluding the impact of exchange rate changes on Korn Ferry's financial performance allows investors to make more meaningful period-to-period comparisons of the Company’s operating results, to better identify operating trends that may otherwise be masked or distorted by exchange rate changes and to perform related trend analysis, and provides a higher degree of transparency of information used by management in its evaluation of Korn Ferry's ongoing operations and financial and operational decision-making.




KORN FERRY AND SUBSIDIARIES








CONDENSED CONSOLIDATED STATEMENTS OF INCOME








(in thousands, except per share amounts)








 






 






 






 






 








 






 






Three Months Ended

January 31,






 






Nine Months Ended

January 31,








 






 






2026






 






2025






 






2026






 






2025








 






 






(unaudited)








Fee revenue







$






717,385






 






 






$






668,729






 






 






$






2,147,697






 






 






$






2,018,040






 








Reimbursed out-of-pocket engagement expenses







 






7,657






 






 






 






7,809






 






 






 






22,688






 






 






 






23,219






 








Total revenue







 






725,042






 






 






 






676,538






 






 






 






2,170,385






 






 






 






2,041,259






 








 







 






 






 






 






 






 






 








Compensation and benefits







 






456,823






 






 






 






425,319






 






 






 






1,380,268






 






 






 






1,314,521






 








General and administrative expenses







 






65,944






 






 






 






65,325






 






 






 






180,068






 






 






 






189,865






 








Reimbursed expenses







 






7,657






 






 






 






7,809






 






 






 






22,688






 






 






 






23,219






 








Cost of services







 






80,607






 






 






 






78,047






 






 






 






236,888






 






 






 






210,248






 








Depreciation and amortization







 






22,994






 






 






 






20,490






 






 






 






77,253






 






 






 






59,756






 








Restructuring charges, net







 






—






 






 






 






1,316






 






 






 






—






 






 






 






1,892






 








Total operating expenses







 






634,025






 






 






 






598,306






 






 






 






1,897,165






 






 






 






1,799,501






 








 







 






 






 






 






 






 






 








Operating income







 






91,017






 






 






 






78,232






 






 






 






273,220






 






 






 






241,758






 








Other income, net







 






7,468






 






 






 






9,363






 






 






 






27,295






 






 






 






29,259






 








Interest expense, net







 






(5,663






)






 






 






(5,461






)






 






 






(14,942






)






 






 






(15,032






)








Income before provision for income taxes







 






92,822






 






 






 






82,134






 






 






 






285,573






 






 






 






255,985






 








Income tax provision







 






26,683






 






 






 






22,795






 






 






 






78,578






 






 






 






70,047






 








Net income







 






66,139






 






 






 






59,339






 






 






 






206,995






 






 






 






185,938






 








Net income attributable to noncontrolling interest







 






(874






)






 






 






(925






)






 






 






(2,695






)






 






 






(4,120






)








Net income attributable to Korn Ferry







$






65,265






 






 






$






58,414






 






 






$






204,300






 






 






$






181,818






 








 







 






 






 






 






 






 






 








Earnings per common share attributable to Korn Ferry:







 






 






 






 






 






 






 








Basic







$






1.25






 






 






$






1.12






 






 






$






3.91






 






 






$






3.46






 








Diluted







$






1.23






 






 






$






1.10






 






 






$






3.84






 






 






$






3.40






 








 







 






 






 






 






 






 






 








Weighted-average common shares outstanding:







 






 






 






 






 






 






 








Basic







 






51,570






 






 






 






51,606






 






 






 






51,594






 






 






 






51,838






 








Diluted







 






52,417






 






 






 






52,364






 






 






 






52,612






 






 






 






52,789






 























 




KORN FERRY AND SUBSIDIARIES








FINANCIAL SUMMARY BY REPORTING SEGMENT








(dollars in thousands)








(unaudited)








 






 






 






 






 








 






 






Three Months Ended

January 31,






 






Nine Months Ended

January 31,








 






 






2026






 






2025






 






% Change






 






2026






 






2025






 






% Change








Fee revenue:







 






 






 






 






 






 






 






 






 






 






 








Consulting







$






166,931






 






 






$






158,704






 






 






5.2






%






 






$






509,734






 






 






$






493,345






 






 






3.3






%








Digital







 






94,014






 






 






 






90,823






 






 






3.5






%






 






 






274,241






 






 






 






271,896






 






 






0.9






%








Executive Search:







 






 






 






 






 






 






 






 






 






 






 








North America







 






145,540






 






 






 






128,264






 






 






13.5






%






 






 






427,299






 






 






 






392,907






 






 






8.8






%








EMEA







 






55,318






 






 






 






47,840






 






 






15.6






%






 






 






160,999






 






 






 






140,609






 






 






14.5






%








Asia Pacific







 






24,073






 






 






 






21,664






 






 






11.1






%






 






 






72,905






 






 






 






63,707






 






 






14.4






%








Latin America







 






7,018






 






 






 






6,803






 






 






3.2






%






 






 






20,950






 






 






 






21,982






 






 






(4.7






%)








Total Executive Search (a)







 






231,949






 






 






 






204,571






 






 






13.4






%






 






 






682,153






 






 






 






619,205






 






 






10.2






%








Professional Search & Interim







 






137,017






 






 






 






129,957






 






 






5.4






%






 






 






412,017






 






 






 






372,805






 






 






10.5






%








RPO







 






87,474






 






 






 






84,674






 






 






3.3






%






 






 






269,552






 






 






 






260,789






 






 






3.4






%








Total fee revenue







 






717,385






 






 






 






668,729






 






 






7.3






%






 






 






2,147,697






 






 






 






2,018,040






 






 






6.4






%








Reimbursed out-of-pocket engagement expenses







 






7,657






 






 






 






7,809






 






 






(1.9






%)






 






 






22,688






 






 






 






23,219






 






 






(2.3






%)








Total revenue







$






725,042






 






 






$






676,538






 






 






7.2






%






 






$






2,170,385






 






 






$






2,041,259






 






 






6.3






%









(a)







Total Executive Search is the sum of the individual Executive Search Reporting Segments and is presented on a consolidated basis as it is consistent with the Company’s discussion of its Solutions, and financial metrics used by the Company’s investor base.









 




KORN FERRY AND SUBSIDIARIES








CONDENSED CONSOLIDATED BALANCE SHEETS








(in thousands, except per share amounts)








 






 






 






 






 








 






 






January 31,

2026






 






April 30,




2025 (1)








 






 






(unaudited)






 






 








ASSETS







 






 






 








Cash and cash equivalents







$






938,365






 






 






$






1,006,964






 








Marketable securities







 






38,367






 






 






 






36,388






 








Receivables due from clients, net of allowance for doubtful accounts of $45,990 and $40,461 at January 31, 2026 and April 30, 2025, respectively







 






626,813






 






 






 






565,255






 








Income taxes and other receivables







 






65,823






 






 






 






38,394






 








Unearned compensation







 






65,882






 






 






 






61,649






 








Prepaid expenses and other assets







 






53,225






 






 






 






41,488






 








Total current assets







 






1,788,475






 






 






 






1,750,138






 








 







 






 






 








Marketable securities, non-current







 






241,745






 






 






 






233,626






 








Property and equipment, net







 






182,572






 






 






 






173,610






 








Operating lease right-of-use assets, net







 






141,084






 






 






 






152,712






 








Cash surrender value of company-owned life insurance policies, net of loans







 






285,516






 






 






 






252,621






 








Deferred income taxes







 






134,199






 






 






 






144,560






 








Goodwill







 






951,962






 






 






 






948,832






 








Intangible assets, net







 






52,047






 






 






 






70,193






 








Unearned compensation, non-current







 






128,310






 






 






 






106,965






 








Investments and other assets







 






43,698






 






 






 






27,967






 








Total assets







$






3,949,608






 






 






$






3,861,224






 








 







 






 






 








LIABILITIES AND STOCKHOLDERS' EQUITY







 






 






 








Accounts payable







$






60,034






 






 






$






58,884






 








Income taxes payable







 






23,313






 






 






 






23,079






 








Compensation and benefits payable







 






457,225






 






 






 






530,473






 








Operating lease liability, current







 






29,418






 






 






 






38,573






 








Other accrued liabilities







 






319,565






 






 






 






304,589






 








Total current liabilities







 






889,555






 






 






 






955,598






 








 







 






 






 








Deferred compensation and other retirement plans







 






491,616






 






 






 






477,770






 








Operating lease liability, non-current







 






132,633






 






 






 






131,762






 








Long-term debt







 






398,354






 






 






 






397,736






 








Deferred tax liabilities







 






6,436






 






 






 






5,981






 








Other liabilities







 






23,049






 






 






 






20,238






 








Total liabilities







 






1,941,643






 






 






 






1,989,085






 








 







 






 






 








Stockholders' equity







 






 






 








Common stock: $0.01 par value, 150,000 shares authorized, 79,180 and 78,264 shares issued and 51,463 and 51,458 shares outstanding at January 31, 2026 and April 30, 2025, respectively







 






351,578






 






 






 






364,425






 








Retained earnings







 






1,716,206






 






 






 






1,588,274






 








Accumulated other comprehensive loss, net







 






(65,337






)






 






 






(86,243






)








Total Korn Ferry stockholders' equity







 






2,002,447






 






 






 






1,866,456






 








Noncontrolling interest







 






5,518






 






 






 






5,683






 








Total stockholders' equity







 






2,007,965






 






 






 






1,872,139






 








Total liabilities and stockholders' equity







$






3,949,608






 






 






$






3,861,224






 









(1)







Information is derived from audited financial statements included in our most recently filed Form 10-K.









 




KORN FERRY AND SUBSIDIARIES








RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES








(dollars in thousands)








(unaudited)








 






 






 






 






 








 






 






Three Months Ended

January 31,






 






Nine Months Ended

January 31,








 






 






2026






 






2025






 






2026






 






2025








 







 






 






 






 






 






 






 








Net income attributable to Korn Ferry







$






65,265






 






 






$






58,414






 






 






$






204,300






 






 






$






181,818






 








Net income attributable to non-controlling interest







 






874






 






 






 






925






 






 






 






2,695






 






 






 






4,120






 








Net income







 






66,139






 






 






 






59,339






 






 






 






206,995






 






 






 






185,938






 








Income tax provision







 






26,683






 






 






 






22,795






 






 






 






78,578






 






 






 






70,047






 








Income before provision for income taxes







 






92,822






 






 






 






82,134






 






 






 






285,573






 






 






 






255,985






 








Interest expense, net







 






5,663






 






 






 






5,461






 






 






 






14,942






 






 






 






15,032






 








Depreciation and amortization (1)







 






22,994






 






 






 






20,490






 






 






 






77,253






 






 






 






59,756






 








Integration/acquisition costs (2)







 






1,587






 






 






 






2,127






 






 






 






4,420






 






 






 






7,099






 








Restructuring charges, net (3)







 






—






 






 






 






1,316






 






 






 






—






 






 






 






1,892






 








Impairment of fixed assets (4)







 






—






 






 






 






509






 






 






 






—






 






 






 






509






 








Impairment of right-of-use assets (5)







 






—






 






 






 






2,452






 






 






 






—






 






 






 






2,452






 








Gain on modification of office lease (6)







 






—






 






 






 






—






 






 






 






(13,907






)






 






 






—






 








Adjusted EBITDA







$






123,066






 






 






$






114,489






 






 






$






368,281






 






 






$






342,725






 








 







 






 






 






 






 






 






 








Net income attributable to Korn Ferry margin







 






9.1






%






 






 






8.7






%






 






 






9.5






%






 






 






9.0






%








Net income attributable to non-controlling interest







 






0.1






%






 






 






0.1






%






 






 






0.1






%






 






 






0.2






%








Income tax provision







 






3.8






%






 






 






3.4






%






 






 






3.6






%






 






 






3.5






%








Interest expense, net







 






0.8






%






 






 






0.8






%






 






 






0.7






%






 






 






0.7






%








Depreciation and amortization (1)







 






3.2






%






 






 






3.1






%






 






 






3.6






%






 






 






3.0






%








Integration/acquisition costs (2)







 






0.2






%






 






 






0.3






%






 






 






0.2






%






 






 






0.4






%








Restructuring charges, net (3)







 






—






%






 






 






0.2






%






 






 






—






%






 






 






0.1






%








Impairment of fixed assets (4)







 






—






%






 






 






0.1






%






 






 






—






%






 






 






0.0






%








Impairment of right-of-use assets (5)







 






—






%






 






 






0.4






%






 






 






—






%






 






 






0.1






%








Gain on modification of office lease (6)







 






—






%






 






 






—






%






 






 






(0.6






%)






 






 






—






%








Adjusted EBITDA margin







 






17.2






%






 






 






17.1






%






 






 






17.1






%






 






 






17.0






%








 







 






 






 






 






 






 






 








Net income attributable to Korn Ferry







$






65,265






 






 






$






58,414






 






 






$






204,300






 






 






$






181,818






 








Accelerated depreciation on Digital platform (1)







 






1,696






 






 






 






—






 






 






 






13,846






 






 






 






—






 








Integration/acquisition costs (2)







 






1,587






 






 






 






2,127






 






 






 






4,420






 






 






 






7,099






 








Restructuring charges, net (3)







 






—






 






 






 






1,316






 






 






 






—






 






 






 






1,892






 








Impairment of fixed assets (4)







 






—






 






 






 






509






 






 






 






—






 






 






 






509






 








Impairment of right-of-use assets (5)







 






—






 






 






 






2,452






 






 






 






—






 






 






 






2,452






 








Gain on modification of office lease (6)







 






—






 






 






 






—






 






 






 






(13,907






)






 






 






—






 








Tax effect on the adjusted items (7)







 






(865






)






 






 






(1,555






)






 






 






(1,243






)






 






 






(2,700






)








Adjusted net income attributable to Korn Ferry







$






67,683






 






 






$






63,263






 






 






$






207,416






 






 






$






191,070






 








Explanation of Non-GAAP Adjustments



(1)







Depreciation and amortization includes $1.7 million and $13.8 million of accelerated depreciation associated with the decision to sunset our Digital platform in the three and nine months ended January 31, 2026, respectively.








(2)







Costs associated with previous acquisitions, such as legal and professional fees, retention awards and the on-going integration expenses.








(3)







Restructuring charges incurred to align our workforce to eliminate excess capacity resulting from challenging macroeconomic business environment.








(4)







Costs associated with impairment of fixed assets primarily due to software impairment charge in our Digital segment.








(5)







Costs associated with impairment of right-of-use assets due to terminating and deciding to sublease some of our offices.








(6)







Gain on the modification of an office lease where the Company received lease incentives to shorten the lease term.








(7)







Tax effect on accelerated depreciation on Digital platform, integration/acquisition costs, restructuring charges, net, impairment of fixed assets and right-of-use assets and gain on modification of office lease.









 




KORN FERRY AND SUBSIDIARIES








RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - CONTINUED








(unaudited)








 






 






 






 






 








 






 






Three Months Ended

January 31,






 






Nine Months Ended

January 31,








 






 






2026






 






2025






 






2026






 






2025








 







 






 






 






 






 






 






 








Basic earnings per common share







$






1.25






 






 






$






1.12






 






 






$






3.91






 






 






$






3.46






 








Accelerated depreciation on Digital platform (1)







 






0.04






 






 






 






—






 






 






 






0.27






 






 






 






—






 








Integration/acquisition costs (2)







 






0.03






 






 






 






0.04






 






 






 






0.08






 






 






 






0.14






 








Restructuring charges, net (3)







 






—






 






 






 






0.02






 






 






 






—






 






 






 






0.03






 








Impairment of fixed assets (4)







 






—






 






 






 






0.01






 






 






 






—






 






 






 






0.01






 








Impairment of right-of-use assets (5)







 






—






 






 






 






0.05






 






 






 






—






 






 






 






0.05






 








Gain on modification of office lease (6)







 






—






 






 






 






—






 






 






 






(0.27






)






 






 






—






 








Tax effect on the adjusted items (7)







 






(0.02






)






 






 






(0.03






)






 






 






(0.02






)






 






 






(0.05






)








Adjusted basic earnings per share







$






1.30






 






 






$






1.21






 






 






$






3.97






 






 






$






3.64






 








 







 






 






 






 






 






 






 








Diluted earnings per common share







$






1.23






 






 






$






1.10






 






 






$






3.84






 






 






$






3.40






 








Accelerated depreciation on Digital platform (1)







 






0.04






 






 






 






—






 






 






 






0.26






 






 






 






—






 








Integration/acquisition costs (2)







 






0.03






 






 






 






0.04






 






 






 






0.07






 






 






 






0.13






 








Restructuring charges, net (3)







 






—






 






 






 






0.02






 






 






 






—






 






 






 






0.03






 








Impairment of fixed assets (4)







 






—






 






 






 






0.01






 






 






 






—






 






 






 






0.01






 








Impairment of right-of-use assets (5)







 






—






 






 






 






0.05






 






 






 






—






 






 






 






0.05






 








Gain on modification of office lease (6)







 






—






 






 






 






—






 






 






 






(0.26






)






 






 






—






 








Tax effect on the adjusted items (7)







 






(0.02






)






 






 






(0.03






)






 






 






(0.02






)






 






 






(0.05






)








Adjusted diluted earnings per share







$






1.28






 






 






$






1.19






 






 






$






3.89






 






 






$






3.57






 








Explanation of Non-GAAP Adjustments



(1)







Depreciation and amortization includes $1.7 million and $13.8 million of accelerated depreciation associated with the decision to sunset our Digital platform in the three and nine months ended January 31, 2026, respectively.








(2)







Costs associated with previous acquisitions, such as legal and professional fees, retention awards and the on-going integration expenses.








(3)







Restructuring charges incurred to align our workforce to eliminate excess capacity resulting from challenging macroeconomic business environment.








(4)







Costs associated with impairment of fixed assets primarily due to software impairment charge in our Digital segment.








(5)







Costs associated with impairment of right-of-use assets due to terminating and deciding to sublease some of our offices.








(6)







Gain on the modification of an office lease where the Company received lease incentives to shorten the lease term.








(7)







Tax effect on accelerated depreciation on Digital platform, integration/acquisition costs, restructuring charges, net, impairment of fixed assets and right-of-use assets and gain on modification of office lease.









KORN FERRY AND SUBSIDIARIES








RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - CONTINUED








(dollars in thousands)








(unaudited)








 






 






 








 






 






Three Months Ended January 31,








 






 






2026






 






2025








 







 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 







 






 






 






 






Net income attributable to




Korn Ferry






 






Net income attributable to




Korn Ferry margin






 






 






 






 






 






Net income attributable to




Korn Ferry






 






Net income attributable to




Korn Ferry margin








Consolidated







 






 






 






 






$






65,265






 






 






9.1






%






 






 






 






 






 






$






58,414






 






 






8.7






%








 







 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 







Fee revenue






 






Total revenue






 






Adjusted EBITDA






 






Adjusted EBITDA margin






 






Fee revenue






 






Total revenue






 






Adjusted EBITDA






 






Adjusted EBITDA margin








 







 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Consulting







$






166,931






 






 






$






170,202






 






 






$






28,417






 






 






17.0






%






 






$






158,704






 






 






$






161,382






 






 






$






28,026






 






 






17.7






%








Digital







 






94,014






 






 






 






94,199






 






 






 






29,099






 






 






31.0






%






 






 






90,823






 






 






 






90,836






 






 






 






28,408






 






 






31.3






%








Executive Search:







 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








North America







 






145,540






 






 






 






146,784






 






 






 






42,138






 






 






29.0






%






 






 






128,264






 






 






 






129,889






 






 






 






37,175






 






 






29.0






%








EMEA







 






55,318






 






 






 






55,784






 






 






 






9,459






 






 






17.1






%






 






 






47,840






 






 






 






48,087






 






 






 






7,845






 






 






16.4






%








Asia Pacific







 






24,073






 






 






 






24,218






 






 






 






5,331






 






 






22.1






%






 






 






21,664






 






 






 






21,794






 






 






 






4,504






 






 






20.8






%








Latin America







 






7,018






 






 






 






7,026






 






 






 






1,223






 






 






17.4






%






 






 






6,803






 






 






 






6,807






 






 






 






1,696






 






 






24.9






%








Total Executive Search







 






231,949






 






 






 






233,812






 






 






 






58,151






 






 






25.1






%






 






 






204,571






 






 






 






206,577






 






 






 






51,220






 






 






25.0






%








Professional Search & Interim







 






137,017






 






 






 






138,188






 






 






 






29,065






 






 






21.2






%






 






 






129,957






 






 






 






130,854






 






 






 






27,265






 






 






21.0






%








RPO







 






87,474






 






 






 






88,641






 






 






 






13,641






 






 






15.6






%






 






 






84,674






 






 






 






86,889






 






 






 






12,743






 






 






15.0






%








Corporate







 






—






 






 






 






—






 






 






 






(35,307






)






 






 






 






 






—






 






 






 






—






 






 






 






(33,173






)






 






 








Consolidated







$






717,385






 






 






$






725,042






 






 






$






123,066






 






 






17.2






%






 






$






668,729






 






 






$






676,538






 






 






$






114,489






 






 






17.1






%









 







Nine Months Ended January 31,








 







2026






 






2025








 







 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 







 






 






 






 






Net income attributable to




Korn Ferry






 






Net income attributable to




Korn Ferry margin






 






 






 






 






 






Net income attributable to




Korn Ferry






 






Net income attributable to




Korn Ferry margin








Consolidated







 






 






 






 






$






204,300






 






 






9.5






%






 






 






 






 






 






$






181,818






 






 






9.0






%








 







 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 







Fee revenue






 






Total revenue






 






Adjusted EBITDA






 






Adjusted EBITDA margin






 






Fee revenue






 






Total revenue






 






Adjusted EBITDA






 






Adjusted EBITDA margin








 







 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Consulting







$






509,734






 






 






$






518,831






 






 






$






87,490






 






 






17.2






%






 






$






493,345






 






 






$






501,533






 






 






$






86,426






 






 






17.5






%








Digital







 






274,241






 






 






 






274,681






 






 






 






85,438






 






 






31.2






%






 






 






271,896






 






 






 






272,085






 






 






 






84,219






 






 






31.0






%








Executive Search:







 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








North America







 






427,299






 






 






 






431,565






 






 






 






125,332






 






 






29.3






%






 






 






392,907






 






 






 






397,395






 






 






 






109,180






 






 






27.8






%








EMEA







 






160,999






 






 






 






162,077






 






 






 






27,373






 






 






17.0






%






 






 






140,609






 






 






 






141,495






 






 






 






22,597






 






 






16.1






%








Asia Pacific







 






72,905






 






 






 






73,321






 






 






 






16,185






 






 






22.2






%






 






 






63,707






 






 






 






64,038






 






 






 






13,154






 






 






20.6






%








Latin America







 






20,950






 






 






 






20,984






 






 






 






4,497






 






 






21.5






%






 






 






21,982






 






 






 






21,992






 






 






 






7,046






 






 






32.1






%








Total Executive Search







 






682,153






 






 






 






687,947






 






 






 






173,387






 






 






25.4






%






 






 






619,205






 






 






 






624,920






 






 






 






151,977






 






 






24.5






%








Professional Search & Interim







 






412,017






 






 






 






415,834






 






 






 






87,293






 






 






21.2






%






 






 






372,805






 






 






 






375,572






 






 






 






80,174






 






 






21.5






%








RPO







 






269,552






 






 






 






273,092






 






 






 






42,203






 






 






15.7






%






 






 






260,789






 






 






 






267,149






 






 






 






38,136






 






 






14.6






%








Corporate







 






—






 






 






 






—






 






 






 






(107,530






)






 






 






 






 






—






 






 






 






—






 






 






 






(98,207






)






 






 








Consolidated







$






2,147,697






 






 






$






2,170,385






 






 






$






368,281






 






 






17.1






%






 






$






2,018,040






 






 






$






2,041,259






 






 






$






342,725






 






 






17.0






%







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260227661073/en/
Investor Relations: Tiffany Louder, (214) 310-8407

Media: Dan Gugler, (310) 226-2645


Original: Korn Ferry Announces Third Quarter Fiscal 2026 Results of Operations