FTI Consulting's strategic communications unit registered 1.2 percent growth to $58.4M during the first quarter. Profit (EBITDA) slipped 23.5 percent largely due to costs connected to a 14.7 percent rise in billable headcount to 755 people.
Mark McCall, global stratcom leader, called the financial performance solid, when compared to the record-setting results in the year-ago period and the seemingly overnight changes in the business environment beginning mid-quarter with the spread of the COVID-19 pandemic.
While M&A work declined, the stratcom group saw a pick-up in public affairs, issues/crisis work and counseling clients how to respond to disruptions in the supply chains and customer base.
McCall anticipates his group will benefit during the COVID-19 recovery period from opportunities in the bankruptcy, litigation, life sciences, healthcare and environmental/social/governance categories.