The firm reported full-year 2025 revenues of $3.79 billion, a 2.4% increase, while a strong fourth quarter was buoyed by its Corporate Finance practice and offset by a significant decline in Economic Consulting.
FTI Consulting announced its eighth consecutive year of record revenues, reaching $3.79 billion for the full year 2025, a modest 2.4% increase over the previous year. However, the growth in revenue did not translate to higher profits, as full-year net income fell slightly to $270.9 million from $280.1 million in 2024.
The Washington-based global consulting firm attributed the dip in net income to a combination of higher direct costs, including increased variable compensation and forgivable loan amortization, alongside a rise in taxes, special charges and interest expenses. Despite the lower net income, full-year adjusted earnings per share (EPS) grew to $8.83 from $7.99 in the prior year.
"We delivered our 11th year in a row of Adjusted EPS growth and our eighth year in a row of record revenues," said Steven H. Gunby, CEO and Chairman of FTI Consulting. "We delivered those record results notwithstanding the major headwinds that we were facing in a couple of our businesses during the year."
The firm's performance presented a mixed picture across its different segments. For the full year, growth was driven by its Corporate Finance, Forensic and Litigation Consulting, and Strategic Communications practices. This was partially offset by revenue declines in the Economic Consulting and Technology segments.
A strong fourth quarter, with revenues up 10.7% to $990.7 million, helped bolster the yearly results. The standout performer in Q4 was the Corporate Finance segment, which saw revenues jump 26.1% to $423.2 million, driven by increased demand for turnaround, restructuring and transaction services. The Forensic and Litigation Consulting (+9.7%), Strategic Communications (+14.8%), and Technology (+9.3%) segments also posted solid quarterly growth.
In contrast, the Economic Consulting segment experienced a significant downturn, with Q4 revenues falling 14.5% to $176.2 million. The company cited lower demand for both M&A-related and non-M&A-related antitrust services as the primary reason for the decline.
Looking ahead, FTI Consulting provided guidance for 2026, projecting revenues to be in the range of $3.94 billion to $4.10 billion and EPS between $8.90 and $9.60.
SOURCE: FTI Consulting
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