WASHINGTON - FTI Consulting, Inc. (NYSE:FCN) has announced the appointment of Jeff Wray as Senior Managing Director and Industry Growth and Strategy Leader within its Corporate Finance & Restructuring segment. Wray will lead the newly established Consumer & Retail industry practice within FTI Delta, the firm's strategy consulting practice.
With over two decades of strategy and consulting experience, including a focus on personal care, consumer electronics, apparel, and retail, Wray will be tasked with building industry teams and enhancing FTI Consulting’s strategy, transformation, and transactions capabilities. He joins from EY-Parthenon, where he served as Global Leader.
Luke Schaeffer, Global Co-Leader of FTI Delta, expressed confidence in Wray's ability to spearhead the new industry practice, emphasizing his track record of building high-performing teams and delivering results for clients.
The Consumer & Retail practice is the third industry-specific team within FTI Delta, following the Telecommunications, Media & Technology and Public Sector practices. This expansion aims to leverage the company's established retail operational turnaround and transactions expertise.
Carlyn Taylor, Chief Growth Officer at FTI Consulting, highlighted the importance of industry expertise in delivering high-value client outcomes. She noted Wray's previous success in scaling industry practices as a valuable asset to the company's growth efforts.
Wray's appointment is part of a broader strategy by FTI Consulting to partner with clients across all aspects of value creation, from strategy definition to execution. His extensive experience in transactions, including growth investments and merger integration, is expected to contribute significantly to the firm's capabilities. Wray has advised clients across various regions, including North America, China, South America, and Western Europe.
FTI Consulting, with a global presence in over 33 countries and territories and more than 8,000 employees, generated $3.49 billion in revenues during fiscal year 2023. The company is known for its comprehensive business advisory services, helping organizations navigate complex challenges.
This move by FTI Consulting is based on a press release statement and reflects the company's continued focus on industry specialization and value creation for its clients.
In other recent news, FTI Consulting, a global business advisory firm, reported a significant rise in its financial performance. The company recorded a 12% increase in revenue and a 27% growth in adjusted EBITDA for Q2 2024 compared to the first half of the year. Earnings per share also climbed to $2.34, marking a 33.7% year-over-year increase.
FTI Consulting has also announced several key appointments. Juli Saitz has been named as a Senior Managing Director in the firm's Dispute Advisory Services practice. Thomas Thompson and Stuart McIvor have joined the Construction, Projects & Assets practice, and Nathan Ramsey has been added to the Food, Agriculture & Beverage practice.
Despite anticipating a seasonal slowdown in the fourth quarter, FTI Consulting has raised its full-year revenue and EPS guidance, indicating a positive growth trajectory. The firm remains committed to its growth initiatives, including strategic investments in senior talent and potential acquisitions. These recent developments demonstrate FTI Consulting's ongoing efforts to enhance its service offerings and strengthen its global presence.
InvestingPro Insights
FTI Consulting, Inc. (NYSE:FCN) has been making strategic moves to enhance its industry-specific capabilities, a direction that is also reflected in its financial performance and market sentiment. According to recent InvestingPro data, FTI Consulting has a market capitalization of approximately $7.74 billion, demonstrating a significant presence in the consulting industry. The company's P/E ratio stands at 23.13, suggesting that it is trading at a valuation that is closely aligned with its earnings.
The company's revenue growth is also noteworthy, with a 14.72% increase over the last twelve months as of Q2 2024, indicating a robust expansion in its business activities. Additionally, FTI Consulting's operating income margin during the same period was 11.62%, reflecting the firm's ability to manage its operational costs effectively while expanding its revenue base.
From an investment standpoint, one of the InvestingPro Tips highlights that FTI Consulting is trading at a low P/E ratio relative to its near-term earnings growth, which could be an attractive point for investors looking for growth at a reasonable price. Moreover, the company's stock is known to trade with low price volatility, offering a potentially steadier investment option in the often turbulent market landscape.
For readers interested in deeper analysis, there are additional InvestingPro Tips available for FTI Consulting at https://www.investing.com/pro/FCN, which provide further insight into the company's financial health and market performance.
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