WASHINGTON - FTI Consulting, Inc. (NYSE: NYSE:FCN), a global business advisory firm, has expanded its Construction, Projects & Assets practice with two key appointments, enhancing the firm's expertise in the construction and engineering sectors.
Thomas Thompson joins as a Senior Managing Director in Houston, bringing over 30 years of industry experience. Stuart McIvor, appointed as a Managing Director, will be based in Dubai and has nearly two decades of experience in the field.
Thompson's background includes project management advisory and operational cost estimating, among other areas. At FTI Consulting, he will focus on managing project-related risks and developing execution strategies. Garrett Fultz, Global Leader of the practice, emphasized the value Thompson and McIvor add to the team in addressing evolving risks and pressures to increase profitability in the construction industry.
Previously, Thompson served as a Managing Director at Ankura, where he concentrated on contract and risk management. He has worked on major projects across various sectors, including refining and oil and gas. Commenting on his new role, Thompson expressed his commitment to providing data-driven solutions to complex construction challenges.
McIvor brings expertise in forensic delay analysis and dispute resolution, having worked on significant projects across multiple regions. His role at FTI Consulting will involve supporting clients with expert testimony and managing construction and engineering delays.
The appointments of Thompson and McIvor continue FTI Consulting's strategic expansion of its global Construction, Projects & Assets practice. Recent hires include Senior Managing Director Greg Parker and Managing Director Alex McBride in the United States, Managing Director John Wright in Colombia, Managing Directors Matt Hanson and James Sitter in the United Kingdom, and the launch of the practice in Sweden with Managing Director Kaj Möller.
FTI Consulting provides a wide array of advisory services to tackle the technical, commercial, and legal challenges in today's built environment, amidst digital transformation, regulatory shifts, supply chain disruptions, and labor shortages. The firm, with over 8,000 employees in 33 countries, reported revenues of $3.49 billion for the fiscal year 2023.
The information for this report is based on a press release statement from FTI Consulting.
In other recent news, FTI Consulting, a global business advisory firm, has reported impressive Q2 2024 results, with a significant rise in both revenue and earnings per share (EPS). The company has also raised its full-year revenue and EPS guidance, indicating a positive growth trajectory. The firm's revenue grew by 12%, and adjusted EBITDA increased by 27% in Q2 2024 compared to the first half of the year. EPS rose to $2.34, marking a 33.7% year-over-year increase.
In addition to these financial highlights, FTI Consulting announced the appointment of Nathan Ramsey as the new Senior Managing Director in the Food, Agriculture & Beverage practice of their Corporate Finance & Restructuring segment. Ramsey, with over two decades of experience in the agriculture and food industry, is expected to boost FTI Consulting's services in the agriculture sector.
Despite anticipating a seasonal slowdown in the fourth quarter, FTI Consulting remains committed to its growth initiatives. The firm has made strategic investments in senior talent, with 19 senior hires announced, and plans to hire over 300 campus recruits in the latter half of the year. These recent developments underline FTI Consulting's commitment to enhancing shareholder value through organic growth and potential acquisitions.
InvestingPro Insights
FTI Consulting, Inc. (NYSE: FCN) continues to demonstrate growth and stability in the construction and advisory sector, as reflected in the recent expansion of its Construction, Projects & Assets practice. The company's strategic appointments come at a time when FTI Consulting's financial metrics present a promising outlook for investors. With a market capitalization of approximately $7.71 billion and a trailing twelve-month revenue growth of 14.72%, the firm is capitalizing on market opportunities and expanding its global footprint.
An InvestingPro Tip highlights that FTI Consulting is trading at a low P/E ratio relative to near-term earnings growth, suggesting that the stock may be undervalued given its growth prospects. This is supported by the company's adjusted P/E ratio for the last twelve months as of Q2 2024, which stands at 23.23. Additionally, the firm's PEG Ratio for the same period is 0.59, indicating potential for investment value when considering its earnings growth rate.
The stability of FTI Consulting is also evident in its financial strength, as the company operates with a moderate level of debt and its cash flows can sufficiently cover interest payments. These factors, coupled with a solid gross profit margin of 32.99% for the last twelve months as of Q2 2024, underline the company's ability to manage its finances effectively while pursuing expansion strategies.
For investors seeking detailed analysis and additional insights, there are more InvestingPro Tips available at: InvestingPro FTI Consulting. With a total of 10 additional tips listed on InvestingPro, investors can gain a comprehensive understanding of FTI Consulting's financial health and investment potential.
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