Heidrick & Struggles International Q3 2023 Earnings Report

Heidrick & Struggles International EPS Results

• Actual EPS: $0.73
• Consensus EPS: $0.68
• Beat/Miss: Beat by +$0.05
• One Year Ago EPS: N/A

Heidrick & Struggles International Revenue Results

• Actual Revenue: $263.16 million
• Expected Revenue: $255.65 million
• Beat/Miss: Beat by +$7.51 million
• YoY Revenue Growth: N/A

Heidrick & Struggles International Announcement Details

• Quarter: Q3 2023
• Date: 10/25/2023
• Time: N/A
• Conference Call Date: Wednesday, October 25, 2023
• Conference Call Time: 5:00PM ET

Heidrick & Struggles International (NASDAQ:HSII) engages in provision of leadership consulting, culture shaping and senior-level executive search services. It offers its clients build leadership teams through facilitating the recruitment, management and deployment of senior executives. It operates under the following segments: Americas, Europe, Asia Pacific, Heidrick Consulting, and On Demand Talent Business. The company was founded by Gardner Heidrick and John Struggles in 1953 and is headquartered in Chicago, IL.

Heidrick & Struggles International Q3 2023 Earnings Call Transcript

[Operator]

It supply chain, does it hit oil, what does it do. So we're keeping an eye on that right now. I would say that it's pretty consistent to what we've seen before and throughout the year. We've been pleased to see that as I referenced, we've seen more CEO searches this year than ever before. So we're tracking trend lines like that And AI searches and things like that, that we can keep our eye on that are markers for where the market is going as well.

[Operator]

Thank you very much.

[Speaker 1]

Thank you. We'll take a follow-up question now from Tobey Sommer.

[Speaker 2]

Thanks. Just wanted to ask you a question about that CEO Search comment in sort of a year to date demand. Do you have good data On in your executive search marketplace to indicate whether there's Simply going to be an elevated velocity of turnover as a result of the baby boomers around the cusp This is something we've talked about in and around the industry for, gosh, decades. And I'm wondering if you've got sort of evidence And a basis for describing a change that could last for a period of years.

[Operator]

Yes. The way I think about that is that we weren't surprised with seeing elevated number of CEO searches this year just based on conversations that we have, understanding the demographics, etcetera. And also people kind of having run the race on COVID a bit and experienced a great resignation of their Potentially their teams as to where people were at this stage. So we weren't surprised by that. If we forecast ahead, what we would imagine and would expect to see is changes on Teams as a result of that.

[Operator]

Often CEO changes lead to changes among the executive teams as well. So we would be forecasting that talent is short and there may be changes that happen over there. As to how much longer the CEO change wave lasts, I'm probably I don't think I can predict that too much better than what we kind of are seeing today. Okay. Thank you.

[Operator]

You're welcome.

[Speaker 2]

Thank you.

[Speaker 1]

Gentlemen, it appears we have no further questions today. Mr. Rajagopal, I'd like to hand things back to you for any closing comments.

[Operator]

Siprant, thank you. Thank you everyone for your participation and continued support. We're very encouraged by our results and continue to see good demand signals despite this broader macro uncertainty. So in tandem with navigating the economic challenges, we remain focused on growing our business and continue to execute on our diversification strategy. We look forward to speaking with you again next quarter.

[Operator]

Thank you very much.

[Speaker 2]

Thank you. And ladies

[Speaker 1]

and gentlemen, that will conclude the Heidrick and Struggles Q3 2023 earnings call. Again, we'd like to thank you all so much for joining us and wish you all a great evening. Goodbye.