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7/8/26 , 9:13 AM Press Releases FTI Consulting Reports Record First Quarter 2021 Financial Results | FTI Consulting , Inc. Investor Relations Contacts View printer - friendly version Back Mollie Hawkes Head of Marketing , Communications & Investor Relations +1 617-747-1791 FTI Consulting Reports Record First Quarter 2021 Financial Results • First Quarter 2021 Revenues of $ 686.3 Million , Up 13.5 % Compared to $ 604.6 Million in Prior Year Quarter First Quarter 2021 EPS of $ 1.84 , Up 23.5 % Compared to $ 1.49 in Prior Year Quarter ; First Quarter 2021 Adjusted EPS of $ 1.89 , Up 23.5 % Compared to $ 1.53 in Prior Year Quarter WASHINGTON , April 29 , 2021 ( GLOBE NEWSWIRE ) -- FTI Consulting , Inc. ( NYSE : FCN ) today released financial results for the quarter ended March 31 , 2021 . First quarter 2021 revenues of $ 686.3 million increased $ 81.7 million , or 13.5 % , compared to revenues of $ 604.6 million in the prior year quarter . Excluding the estimated positive impact from foreign currency translation ( " FX " ) , revenues increased $ 67.0 million , or 11.1 % , compared to the prior year quarter . Acquisition - related revenues contributed $ 16.0 million in the quarter . Excluding the estimated positive impact of FX and acquisition - related revenues , revenues increased $ 51.0 million , or 8.4 % , compared to the prior year quarter , primarily due to higher demand in the Economic Consulting and Technology segments , which was partially offset by a $ 17.5 million decline in pass - through revenues . Net income of $ 64.5 million compared to $ 56.7 million in the prior year quarter . The increase in net income was primarily due to higher operating profits in the Economic Consulting , Forensic and Litigation Consulting , and Technology segments , which was partially offset by lower operating profits in the Corporate Finance & Restructuring segment compared to the prior year quarter . Adjusted EBITDA of $ 99.5 million , or 14.5 % of revenues , compared to $ 83.2 million , or 13.8 % of revenues , in the prior year quarter . The increase in Adjusted EBITDA was due to higher revenues , which was partially offset by higher compensation , primarily related to a 12.3 % increase in billable headcount and higher variable compensation compared to the prior year quarter . First quarter 2021 diluted earnings per share ( " EPS " ) of $ 1.84 compared to $ 1.49 in the prior year quarter . First quarter 2021 EPS included $ 2.3 million of non - cash interest expense related to the Company's 2.0 % convertible senior notes due 2023 ( " 2023 Convertible Notes " ) , which decreased EPS by $ 0.05 . First quarter 2020 EPS included $ 2.2 million of non - cash interest expense related to the Company's 2023 Convertible Notes , which decreased EPS by $ 0.04 . First quarter 2021 Adjusted EPS of $ 1.89 compared to Adjusted EPS of $ 1.53 in the prior year quarter . Steven H. Gunby , President and Chief Executive Officer of FTI Consulting , commented , " Though we are , of course , very pleased with our record quarterly performance , even more gratifying is the progress we have shown over multiple years . That longer - term trajectory underscores the strength of our team and the power of our strategy of focusing on attracting and developing the best professionals in the market and supporting them - in weak quarters as well as strong ones - as they support our clients and build our business . " Cash Position and Capital Allocation Net cash used in operating activities of $ 166.6 million for the quarter ended March 31 , 2021 compared to $ 123.6 million for the quarter ended March 31 , 2020. The year - over - year increase in net cash used in https://ir.fticonsulting.com/news-releases/news-release-details/fti-consulting-reports-record-first-quarter-2021-financial Megan McLaughlin Hawkins Senior Director , Investor Relations & Communications +1 617-747-1740 1/10