FTI Consulting Boosts Q2 Outlook, Guides 2014 Above View

(RTTNews) - Global business advisory firm FTI Consulting, Inc. (FCN) announced Monday that it is raising its prior guidance for the second quarter, and also provided forecast for the full-year 2014, above Street view. The company revealed this ahead of its Investor Day meeting, which is scheduled for later in the day.

The West Palm Beach, Florida-based company raised its adjusted earnings guidance for the second quarter to a range of $0.49 to $0.55 per share from the prior range of $0.32 to $0.42 per share.

The company also said it now projects second-quarter revenues between $445.0 million and $450.0 million, up from the previously announced target of $430 million to $445 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.39 per share for the second quarter on revenues of $436.83 million. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2014, the company initiated adjusted earnings guidance in the range of $1.55 to $1.70 per share, on projected revenues between $1.73 billion and $1.77 billion.

Street is currently looking for full-year 2014 earnings of $1.54 per share on annual revenues of $1.72 billion.

According to the company, "This Adjusted EPS range reflects management's uncertainty that the strong first-half 2014 operating results experienced by the Forensic and Litigation Consulting and Technology segments can be sustained in the second half of 2014, as well as anticipated expenditures and investments in the Company's businesses during the second half of 2014 in connection with its multi-year business plan."

Additionally, the company also provided its medium-term growth targets, projecting adjusted earnings in a range of $1.75 to $2.10 per share for fiscal 2015, and anticipating not less than $2.50 for fiscal 2016.

In Monday's regular trading session, FCN is currently trading at $36.41, up $3.24 or 9.77% on a volume of 0.40 million shares.