FTI Consulting, Inc. (NYSE:FCN) Q3 2023 Earnings Call Transcript

Andrew Nicholas: Understood. That’s helpful. Thanks, Ajay. And then for my follow-up, on the Restructuring environment, I appreciate all the commentary to this point, including the details on the sector level momentum. But just wondering if you could speak to differences between the restructuring environment here in the United States versus abroad? I think there’s been a dichotomy in the way that you described that historically or at least a few quarters ago, wondering if there’s been any kind of narrowing of the experience between those two regions? Or any color you could give on regional differences. Thank you.

Steve Gunby : I think there’s a lot of variation around the world. And it’s just different by geography. I mean, even earlier in the year when we said some overseas markets were slow. Our Australia business happened to be very busy, even though the Australian market wasn’t. It’s just that new team down there seem to be winning every job. I’m sure it wasn’t every job, but it was a lot of the jobs. And then those jobs rolled off in Australia, so they’re not so busy right now. So there’s a lot of variations. Our German business was slow in the beginning of the year. Our German business has gotten busier. I would say that if we were – if we talked sweepingly that was probably over sweeping. But that’s for sure, U.S. was busier than on average overseas earlier in the year.

So that’s still the case, Ajay, certainly, it’s a lesser deviation, but with lots of variations, our Spanish business is really busy on the continent. I mean, it just — I think you feel more momentum overseas than we did earlier in the year, but still with lots of geographical variation. Ajay, do you have a different view on that? Or is that sound right?

Ajay Sabherwal : No, it’s exactly it.

Andrew Nicholas: Thank you very much.

Steve Gunby : Thank you. And thank you all for the time today and over the year and over the multiple years. We so enjoy building this institution, and appreciate your continued attention and support. So thank you very much.

Operator: This concludes today’s conference call. Thank you very much for attending today’s presentation. You may now disconnect your lines.