WASHINGTON, April 28, 2022 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today released financial results for the quarter ended March 31, 2022.

First quarter 2022 revenues of $723.6 million increased $37.3 million, or 5.4%, compared to revenues of $686.3 million in the prior year quarter. Excluding the estimated negative impact from foreign currency translation (“FX”), revenues increased $46.3 million, or 6.7%, compared to the prior year quarter. Acquisition-related revenues contributed $6.0 million of the increase in revenues compared to the prior year quarter. Excluding the estimated negative impact from FX and acquisition-related revenues, revenues increased $40.3 million, or 5.9%, compared to the prior year quarter. The increase in revenues was primarily due to higher demand in the Corporate Finance & Restructuring and Strategic Communications segments. Net income of $59.3 million compared to $64.5 million in the prior year quarter. Net income declined compared to the prior year quarter, as the increase in revenues was more than offset by higher selling, general and administrative (“SG&A”) and compensation expenses, which included the impact of an 8.4% increase in billable headcount. Adjusted EBITDA of $90.5 million, or 12.5% of revenues, compared to $99.5 million, or 14.5% of revenues, in the prior year quarter.