Heidrick & Struggles (HSII) Tops Q3 EPS by 75c, Revenues Beat; Offers 4Q Revenue Mid-Point Guidance Above Consensus
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Heidrick & Struggles Announces 2020 Third Quarter Results and Provides Fourth Quarter Guidance
October 26, 2020 4:01 PM EDTCHICAGO, Oct. 26, 2020 /PRNewswire/ -- Heidrick & Struggles International, Inc. (Nasdaq: HSII), today announced financial results for its third quarter ended September 30, 2020.
Highlights:
Anticipated restructuring charge of $48.1 million generated operating loss of $38.2 million and operating margin of (26.6%); expect annual cost savings of $30 million to $40 million Adjusted operating income of $9.9 million and adjusted operating margin of 6.9%, up 70 basis points sequentially Net revenue of $143.5 million compares to $145.6 million in the 2020 second quarter Net loss of $26.2 million includes restructuring charge; adjusted net income of $7.7 million and... More