Korn Ferry (NYSE:KFY) Q4 2024 Earnings Conference Call June 13, 2024 11:00 AM ET

Company Participants

Gary Burnison - CEO
Bob Rozek - CFO
Gregg Kvochak - SVP, Business Development and Analytics
Tiffany Louder - VP, IR

Conference Call Participants

George Tong - Goldman Sachs
Mark Marcon - Baird
Jack Wilson - Truist Securities
Trevor Romeo - William Blair
Karan Singhania - UBS

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Korn Ferry Fourth Quarter and Fiscal Year End April 30, 2024 Conference call.

At this time all participants are in a listen-only mode. Following the prepared remarks we will conduct a question-and-answer session. As a reminder, this conference call is being recorded for replay purposes. We have also made available in the Investor Relations section of our website at kornferry.com, a copy of the financial presentation that we will be reviewing with you today.

Before we turn the call over to your host, Mr. Gary Burnison, let me first read a cautionary statement to investors. Certain statements made in the call today, such as those relating to future performance, plans, and goals, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, investors are cautioned not to place undue reliance on such statements.

Actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties which are beyond the Company's control. Additional information concerning such risks and uncertainties can be found in the release relating to this presentation and in the periodic and other reports filed by the company with the SEC, including the Company's soon-to-be-filed Annual Report for fiscal year 2024.

Also, some of the comments today may reference non-GAAP financial measures such as constant currency amount, EBITDA, and adjusted EBITDA. Additional information concerning these measures, including reconciliations to the most directly comparable GAAP financial measure, is contained in the financial presentation and earnings release relating to this call. Both of which are posted in the Investor Relations section of the Company's website at www.kornferry.com.

With that, I'll turn the call over to Gary Burnison. Please go ahead, Gary.

Gary Burnison

Thanks, Leah. Good morning. Good afternoon, everybody.

Our team, I'm joined by Bob and Tiffany, and Gregg. They'll get into the results in more detail. But the earnings and profitability were really strong in the fourth quarter. They increased year-over-year and sequentially. We came in with an adjusted EBITDA margin of over 16%, which is our fourth consecutive quarter of profitability improvement. And in fact, when you adjust for the mix change of us getting into a brand new business line, that has a huge market opportunity for us, Interim.