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FTI Consulting’s strategic communications unit posted a 20.8 percent growth in Q2 revenues to $102.7M powered by strength in its corporate reputations and financial communications offerings.
Operating income surged 64.9 percent to $17.5M.
That robust performance couldn't offset flat results at FTI. CEO Steven Gunby reported that overall revenues dipped 0.6 percent to $943.7M due to a 17 percent drop in economic consulting revenues to $191.7M, and a 27.9 percent plunge to $83.6M in the technology group.
FTI's net income for Q2 declined 14.5 percent to $71.7M
The stratcom unit helps management teams, boards and law firms deal with change and mitigate risks surrounding transformational and disruptive events, including transactions, investigations, disputes, crises, regulation and legislation.
For the first-half FTI’s PR unit reported a 14.2 percent hike in revenues to $189.7M. Operating income was up 18.7 percent to $26.2M.
The PR group had 892 professionals as of June 30. That was down 8.2 percent from the year ago level.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
