FTI Consulting, Inc. (NYSE:FCN) Q3 2018 Earnings Conference Call Transcript
Oct 25, 2018 • 09:00 am ET
Good morning and welcome to the FTI Consulting Third Quarter 2018 Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note that this event is being recorded.
At this time, I would like to turn the conference over to Mollie Hawkes, Managing Director of Investor Relations. Please go ahead.
Good morning. Welcome to the FTI Consulting conference call to discuss the company's third quarter of 2018 earnings results reported this morning. Management will begin with formal remarks, after which, we'll take your questions.
(Forward-Looking Cautionary Statements)
During the call, we will discuss certain non-GAAP financial measures, such as total segment operating income, adjusted EBITDA, total adjusted segment EBITDA, adjusted earnings per diluted share, adjusted net income, adjusted EBITDA margin, and free cash flow. For discussion of these and other non-GAAP financial measures, as well as our reconciliation of non-GAAP financial measures, to the most directly comparable GAAP measures, investors should review the press release and the accompanying financial tables that we issued this morning, which include the reconciliations.
Lastly, there are two items that have been posted to our Investor Relations section of our website this morning for your reference. These include a quarterly earnings presentation, and an Excel and PDF of our historical financial and operating data, which have been updated to include our third quarter of 2018 results.
Of note, during today's prepared remarks, management will not speak directly to the quarterly earnings presentation posted to the Investor Relations website. To ensure disclosures are consistent, these slides provide the same details as they have historically and, as I said, are available on our Investor Relations section of our website.
With these formalities out of the way, I'm joined today by Steven Gunby, our President and CEO and Ajay Sabherwal, our CFO.
At this time, I will turn the call over to our President and CEO, Steve Gunby.
I'm sure many of you saw the press release this morning, this quarter, we once again delivered terrific results. I'm pleased, to share them with you along with Ajay. It was another record quarter for revenues, with revenues increasing 14% year-over-year and all of that 14% was organic growth. That terrific revenue growth translated into earnings per share of $1.14 and adjusted EPS of $1 per share. Ajay will go through those results in more detail shortly. But we thought, I would start by sharing a few perspectives on those results.
As I think, most folks on this call now, in this company, and in fact, I believe in this industry, quarterly results almost always reflect a combination of factors, some are the sort of fundamental persistent forces that we've been trying to drive to build this company, the fixes we've made, the investments we've made, and the successes we are having on those efforts. But some of them are set of short-term factors that are much more random, factors that can cut substantially one