Heidrick & Struggles International, Inc. (NASDAQ:HSII) Q4 2023 Earnings Conference Call February 26, 2024 5:00 PM ET

Company Participants

Steven Horwitz - Interim Head of Investor Relations

Krishnan Rajagopalan - President and Chief Executive Officer

Tom Monahan - Incoming Chief Executive Officer

Mark Harris - Chief Financial Officer

Conference Call Participants

Kevin Steinke - Barrington Research

Tobey Sommer - Truist

Marc Riddick - Sidoti

Operator

Hello and welcome to the Heidrick & Struggles Q4 2023 and Year-End Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]

I will now turn the conference over to Steven Horwitz, Interim Head of Investor Relations. Please go ahead.

Steven Horwitz

Thank you and welcome to our 2023 fourth quarter conference call. As a reminder, Suzanne Rosenberg has been on leave and thus I am serving as the Interim Head of IR, having been placed through the On Demand Talent Group. Suzanne is rejoining the team this week and we welcome her back.

Let's now proceed to today's call. Joining me on today's call is our President and CEO, Krishnan Rajagopalan; Chief Financial Officer, Mark Harris; and our incoming CEO Tom Monahan. 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 to our prepared remarks.

Please note that in the materials presented today, we may refer to non-GAAP financial measures that we believe provide additional insight into our 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'll now turn the call over to you.

Krishnan Rajagopalan

Thank you, Steve. Good afternoon, everyone, and thank you for joining us today. We're very proud of how we performed in 2023. In the year in which our Executive Search business faced significant headwinds, we still delivered plus $1 billion in revenue by executing on our diversification strategy. One component of that execution was the successful integration of our strategic and accretive acquisitions. We accomplished all of this while remaining diligently focused on our operational profitability as we delivered more than 12% adjusted EBITDA margin and nearly $3 in adjusted diluted EPS for the full year of 2023.