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Segments (Tables) | 6 Months Ended
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Oct. 31, 2024
Segment Reporting [Abstract] |
Financial Highlights | Financial highlights are as follows:
| Three Months Ended October 31, |  | Six Months Ended October 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
| Consolidated
| (in thousands)
Fee revenue | $ | 674,365 |  |  | $ | 704,003 |  |  | $ | 1,349,311 |  |  | $ | 1,403,192 |
Total revenue | $ | 681,960 |  |  | $ | 712,447 |  |  | $ | 1,364,721 |  |  | $ | 1,418,709 |
Net income (loss) attributable to Korn Ferry | $ | 60,800 |  |  | $ | (1,711) |  |  | $ | 123,404 |  |  | $ | 44,894 |
Net income attributable to noncontrolling interest | 1,543 |  |  | 1,755 |  |  | 3,195 |  |  | 2,335 |
Other (income) loss, net | (5,391) |  |  | 13,835 |  |  | (19,896) |  |  | 258 |
Interest expense, net | 5,626 |  |  | 6,596 |  |  | 9,571 |  |  | 11,336 |
Income tax provision | 24,898 |  |  | 2,341 |  |  | 47,252 |  |  | 20,761 |
Operating income | 87,476 |  |  | 22,816 |  |  | 163,526 |  |  | 79,584 |
Depreciation and amortization | 19,688 |  |  | 19,554 |  |  | 39,266 |  |  | 38,566 |
Other income (loss), net | 5,391 |  |  | (13,835) |  |  | 19,896 |  |  | (258) |
Integration/acquisition costs | 3,896 |  |  | 5,030 |  |  | 4,972 |  |  | 9,158 |
Impairment of fixed assets | — |  |  | 1,452 |  |  | — |  |  | 1,575 |
Impairment of right-of-use assets | — |  |  | — |  |  | — |  |  | 1,629 |
Restructuring charges, net | 576 |  |  | 63,525 |  |  | 576 |  |  | 63,946 |
Adjusted EBITDA (1) | $ | 117,027 |  |  | $ | 98,542 |  |  | $ | 228,236 |  |  | $ | 194,200 |
___________________
(1) | Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, and further excludes integration/acquisition costs, impairment of fixed assets, impairment of right-of-use assets, and restructuring charges, net when applicable.
Financial Highlights by Operating Segment | Financial highlights by reportable segments are as follows:
| Three Months Ended October 31,
| 2024 |  | 2023
| Fee revenue |  | Total revenue |  | Adjusted EBITDA |  | Fee revenue |  | Total revenue |  | Adjusted EBITDA
| (in thousands)
Consulting | $ | 166,771 |  |  | $ | 169,384 |  |  | $ | 29,106 |  |  | $ | 177,795 |  |  | $ | 180,953 |  |  | $ | 28,928 |
Digital | 92,893 |  |  | 93,038 |  |  | 29,188 |  |  | 97,092 |  |  | 97,157 |  |  | 28,983 |
Executive Search: |  |  |  |  |  |  |  |  |  |  |
North America | 129,891 |  |  | 131,419 |  |  | 36,907 |  |  | 132,512 |  |  | 133,933 |  |  | 29,436 |
EMEA | 46,788 |  |  | 47,132 |  |  | 7,487 |  |  | 43,098 |  |  | 43,315 |  |  | 5,619 |
Asia Pacific | 21,464 |  |  | 21,540 |  |  | 4,432 |  |  | 19,304 |  |  | 19,460 |  |  | 3,875 |
Latin America | 7,856 |  |  | 7,859 |  |  | 2,552 |  |  | 8,079 |  |  | 8,085 |  |  | 805 |
Professional Search & Interim | 121,107 |  |  | 121,988 |  |  | 27,203 |  |  | 138,384 |  |  | 139,455 |  |  | 25,622 |
RPO | 87,595 |  |  | 89,600 |  |  | 12,899 |  |  | 87,739 |  |  | 90,089 |  |  | 8,855 |
Corporate | — |  |  | — |  |  | (32,747) |  |  | — |  |  | — |  |  | (33,581) |
Consolidated | $ | 674,365 |  |  | $ | 681,960 |  |  | $ | 117,027 |  |  | $ | 704,003 |  |  | $ | 712,447 |  |  | $ | 98,542 |
| Six Months Ended October 31,
| 2024 |  | 2023
| Fee revenue |  | Total revenue |  | Adjusted EBITDA |  | Fee revenue |  | Total revenue |  | Adjusted EBITDA
| (in thousands)
Consulting | $ | 334,641 |  |  | $ | 340,151 |  |  | $ | 58,400 |  |  | $ | 345,883 |  |  | $ | 351,746 |  |  | $ | 54,108 |
Digital | 181,073 |  |  | 181,249 |  |  | 55,811 |  |  | 185,078 |  |  | 185,169 |  |  | 53,308 |
Executive Search: |  |  |  |  |  |  |  |  |  |  |
North America | 264,643 |  |  | 267,506 |  |  | 72,005 |  |  | 260,010 |  |  | 263,346 |  |  | 58,192 |
EMEA | 92,769 |  |  | 93,408 |  |  | 14,752 |  |  | 89,874 |  |  | 90,450 |  |  | 11,257 |
Asia Pacific | 42,043 |  |  | 42,244 |  |  | 8,650 |  |  | 43,843 |  |  | 44,070 |  |  | 10,190 |
Latin America | 15,179 |  |  | 15,185 |  |  | 5,350 |  |  | 14,500 |  |  | 14,507 |  |  | 2,546 |
Professional Search & Interim | 242,848 |  |  | 244,718 |  |  | 52,909 |  |  | 280,563 |  |  | 282,524 |  |  | 49,951 |
RPO | 176,115 |  |  | 180,260 |  |  | 25,393 |  |  | 183,441 |  |  | 186,897 |  |  | 19,326 |
Corporate | — |  |  | — |  |  | (65,034) |  |  | — |  |  | — |  |  | (64,678) |
Consolidated | $ | 1,349,311 |  |  | $ | 1,364,721 |  |  | $ | 228,236 |  |  | $ | 1,403,192 |  |  | $ | 1,418,709 |  |  | $ | 194,200 |

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