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7/8/26 , 9:15 AM Press Releases View printer - friendly version FTI Consulting Reports Record Third Quarter 2021 Financial Results | FTI Consulting , Inc. Back Investor Relations Contacts Mollie Hawkes Head of Marketing , Communications & Investor Relations +1 617-747-1791 FTI Consulting Reports Record Third Quarter 2021 Financial Results Megan McLaughlin Hawkins Senior Director , Investor Relations & Communications +1 617-747-1740 • Third Quarter 2021 Revenues of $ 702.2 Million , Up 13 % Compared to $ 622.2 Million in Prior Year Quarter Third Quarter 2021 EPS of $ 1.96 , Up 45 % Compared to $ 1.35 in Prior Year Quarter ; Third Quarter 2021 Adjusted EPS of $ 2.02 , Up 31 % Compared to $ 1.54 in Prior Year Quarter Company Raises Lower End of Full Year 2021 Guidance Range for Revenues and Raises Full Year 2021 Guidance Ranges for EPS and Adjusted EPS WASHINGTON , Oct. 28 , 2021 ( GLOBE NEWSWIRE ) -- FTI Consulting , Inc. ( NYSE : FCN ) today released financial results for the quarter ended September 30 , 2021 . Third quarter 2021 revenues of $ 702.2 million increased $ 80.0 million , or 12.9 % , compared to revenues of $ 622.2 million in the prior year quarter . Excluding the estimated positive impact from foreign currency translation ( " FX " ) , revenues increased $ 70.1 million , or 11.3 % , compared to the prior year quarter . Acquisition- related revenues contributed $ 3.7 million in the quarter . Excluding the estimated positive impact of FX and acquisition - related revenues , revenues increased $ 66.4 million , or 10.7 % , compared to the prior year quarter . The increase in revenues was due to higher demand across all business segments . Net income of $ 69.5 million compared to $ 50.2 million in the prior year quarter . The increase in net income was primarily due to higher revenues and FX remeasurement gains , which was partially offset by higher compensation expenses , which includes the impact of a 6.9 % increase in billable headcount , and higher selling , general and administrative ( " SG & A " ) expenses compared to the prior year quarter . Adjusted EBITDA of $ 100.3 million , or 14.3 % of revenues , compared to $ 90.9 million , or 14.6 % of revenues , in the prior year quarter . Third quarter 2021 diluted earnings per share ( " EPS " ) of $ 1.96 compared to $ 1.35 in the prior year quarter . Third quarter 2021 EPS included $ 2.4 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 $ 0.06 . Third quarter 2020 EPS included a $ 7.1 million special charge , which reduced EPS by $ 0.14 , and $ 2.3 million of non - cash interest expense , which reduced EPS by $ 0.05 . Third quarter 2021 Adjusted EPS of $ 2.02 , which excludes the non - cash interest expense , compared to Adjusted EPS of $ 1.54 in the prior year quarter . Steven H. Gunby , President and Chief Executive Officer of FTI Consulting , commented , " These powerful results reflect our multi - year commitment to invest behind our leading positions and expand into new adjacencies by developing , attracting and supporting the best professionals . That commitment , in turn , has allowed us to grow our capacity and capabilities and increasingly deliver for our clients when they are facing their most significant challenges and opportunities . " Cash Position and Capital Allocation Net cash provided by operating activities of $ 196.9 million for the quarter ended September 30 , 2021 compared to $ 111.6 million for the quarter ended September 30 , 2020. The year - over - year increase in net cash provided by operating activities was largely due to an increase in cash collected resulting from higher revenues , which was partially offset by an increase in compensation - related costs and other operating expenses compared to the prior year quarter . Cash and cash equivalents of $ 342.5 million at September 30 , 2021 compared to $ 304.7 million at September 30 , 2020 and $ 256.9 million at June 30 , 2021. Total debt , net of cash , of ( $ 1.3 ) million at September 30 , 2021 improved compared to $ 36.6 million at September 30 , 2020 and $ 159.4 million at June 30 , 2021. The https://ir.fticonsulting.com/news-releases/news-release-details/fti-consulting-reports-record-third-quarter-2021-financial 1/12