FTI Consulting (FCN) Q2 2026 Earnings Call Transcript
Thursday, July 30, 2026 at 9:00 a.m. ET CALL PARTICIPANTS Head of Investor Relations - Mollie Hawkes Chief Executive Officer and Chairman - Steven Gunby Chief Financial Officer - Angela Nam Chief Strategy and Transformation Officer - Paul Linton TAKEAWAYS Revenue -- Record second quarter performance growing 5.3% year over year, or 6.5% when excluding pass-through revenues.
How this was made
The 30-second read
Why it matters
Traders should focus on the lowered GAAP EPS guidance range, the reaffirmed full-year revenue outlook, and management commentary on geopolitical disruption and regulatory enforcement pullbacks affecting forensic and litigation consulting volumes.
Market read
This is a company-specific earnings and guidance update with explicit EPS range changes and segment drivers, likely driving near-term positioning around earnings quality and risk costs.
What to watch
SG&A is up sharply year over year and litigation expenses expanded to include a competing firm, which could indicate longer-duration cost overhang beyond the modeled $0.40 full-year impact.
Background
FTI Consulting held its Q2 2026 earnings call, reporting record quarterly revenue and segment performance, while addressing litigation-related cost pressure and uneven regional demand.
Ticker impact
FTI Consulting reported Q2 2026 revenue growth and GAAP EPS of $1.99, while lowering full-year GAAP EPS guidance for litigation costs.
Near-term volatility likely around the GAAP EPS guidance reset, with upside support from reaffirmed revenue and improving Economic Consulting.
The article provides specific Q2 results, a lowered GAAP EPS range, reaffirmed revenue guidance, and a credit facility upsizing, which together shape earnings quality and risk perception.
Market effects
Professional services and consulting demand appears resilient in Corporate Finance and Technology, but forensic/litigation volumes are pressured by regulatory enforcement pullbacks.
EMEA summer vacation timing and Middle East disruption are cited as short-term headwinds for assignment flow.
Signals ongoing geopolitical and regulatory uncertainty affecting cross-border advisory and litigation work.
Counterpoint
The GAAP EPS downgrade may be largely non-operational, while adjusted EPS guidance remains intact and revenue guidance is reaffirmed, suggesting limited fundamental deterioration.
Key entities
- companyFTI Consulting, Inc.
Reported Q2 2026 results and provided full-year revenue and EPS guidance, including a GAAP EPS range reduction for extraordinary litigation costs.
- executiveSteven Gunby
CEO and Chairman, cited timing gaps in the U.K. and uncertainty on Middle East business recovery.
- executiveAngela Nam
CFO, discussed litigation expense drivers and segment outlook, including Economic Consulting no longer being a year-on-year drag in 2H 2026.
