Heidrick & Struggles International, Inc. (NASDAQ:HSII) Q2 2023 Earnings Conference Call July 31, 2023 5:00 PM ET

Company Participants

Suzanne Rosenberg - Vice President, Investor Relations

Krishnan Rajagopalan - President and CEO

Mark Harris - Chief Financial Officer

Conference Call Participants

Kevin Steinke - Barrington Research

Jack Wilson - Truist Securities

Operator

Please standby, we are about to begin. Good afternoon, ladies and gentlemen. Welcome to the Heidrick & Struggles Q2 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode and please be advised that this call is being recorded. After the speakers prepared remarks, there will be a question-and-answer session. [Operator Instructions]

And now at this time, I would like to turn things over to Ms. Suzanne Rosenberg, Vice President, Investor Relations. Please go ahead, ma’am.

Suzanne Rosenberg

Thank you. And welcome to our 2023 second quarter conference call. Joining me on today’s call is our President and CEO, Krishnan Rajagopalan; and Chief Financial Officer, Mark Harris. We posted our accompanying slides on the IR homepage of our website at heidrick.com and we encourage you to view these slides for additional context.

Please note that in the materials presented today, we may refer to non-GAAP financial measures that we believe provide additional insight into underlying results. Reconciliations between these non-GAAP financial measures and the most comparable GAAP measures may be found in the earnings press release. Also in our remarks, we may make certain forward-looking statements. We ask that you please refer to the Safe Harbor language also contained in today’s press release.

Krishnan, I will now turn the call over to you.

Krishnan Rajagopalan

Thank you, Suzanne. Good afternoon, everyone, and thank you for joining us today. We are pleased with our second quarter results, which marked a continuation of what we were beginning to see in the first quarter with business trending as anticipated.

Revenue met our expectations and included the first full quarter of results from our recent acquisitions, Atreus in the On-Demand Talent segment and businessfourzero or B4Z in our Heidrick Consulting segment.

Of significance, even before the positive effects of these acquisitions, each of our business segments demonstrated organic sequential growth, despite the ongoing macro uncertainty and an anticipated return to a more normalized levels of business performance.

I will let Mark go into the details later on the call. Our steadfast focus on the execution of our strategy, while maintaining strong profitability positions us well to navigate a choppy macro environment, as well as manage the seasonality we typically see in the back half of the year.