Korn Ferry (NYSE:KFY) Q2 2024 Earnings Call Transcript

Gary Burnison: Well, I’d look at just the again just the — again, I’m going to look at the consulting and digital business together. I mean, you look at the shift that’s been made in those businesses over several years, and you’re clearly seeing a move towards more scaled assignments. There’s no question about it. And a lot of those are around organizational strategy, which is around companies rethinking their organization, setting up a new organization, adapting, optimizing, innovating. And the success of that is due not only to the talented people that we have, but the IP that we have too. And that’s really bearing out.

Bob Rozek: And, Mark, when you think about our largest clients, you should be thinking about it more from kind of a one Korn Ferry integrated approach where the real power of the firm comes in when we’ve got multiple lines of business into a client. So, rather than looking at a large client relative to digital or RPO, it’s really the whole suite of services that we offer is what creates the largest accounts that we have.

Mark Marcon: Yeah. I was just talking about that one contract that — you know what I’m talking about in terms of how well that’s going. So, just was curious there. With regards to China, you did mention it’s been soft and a big drag, but, Gary, you mentioned it’s starting to pick up a little bit or stabilize. Can you expand on that?

Gary Burnison: Well, we’ve seen a little bit of green shoots over the last couple of months. And I’m not going to sit here and say that two months make a trend. But that’s $50 million in terms of going back to pre-pandemic off the company’s top-line. It’s not insignificant in terms of the impact that it’s had. So, I’m not going to sit here and say that two months make a trend, but it has looked better the last couple of months.

Mark Marcon: Great to hear. Thank you very much.

Operator: And it appears there’s no further questions, Mr. Burnison.

Gary Burnison: Okay. Thank you everybody. It’s time of year where there’s a lot of reflection and a lot of thankfulness despite what’s happening in the world today. And I thank you, all, for listening, taking an interest. And we’ll speak to you next time. Thank you, everybody.

Operator: Ladies and gentlemen, this conference call will be available for replay for one week starting today at 03:00 PM Eastern Time, running through the day September — sorry, running through December 13, 2023 at midnight. You may access the AT&T Executive Playback Service by dialing 866-207-1041 and entering the access code 9177291. International participants may dial 402-970-0847. Additionally, the replay will be available for playback at the company’s website, www.kornferry.com, in the Investor Relations section. That does conclude our conference for today. Thank you for your participation and for using AT&T Conference Service. You may now disconnect.