FTI Consulting (FCN) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and FTI Consulting published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. FTI Consulting reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q3 2026 GAAP results include a $46.0 million special charge for a plan to align staffing with demand. FTI Consulting excludes it from Adjusted EPS and Adjusted EBITDA.
• FTI Consulting began excluding Extraordinary Litigation-Related Expenses (its case against Jonathan Orszag, Econic Partners and others) from non-GAAP measures in Q2 2026. Prior periods were not adjusted for these costs.
• The Corporate Finance segment was called Corporate Finance & Restructuring until December 31, 2025. FTI Consulting says the rename did not change the segment's composition.

Source: FTI Consulting Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How FTI Consulting splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• FTI Consulting's Corporate Finance revenue was $424 million in Q3 2026, up 5% from $405 million in Q3 2025, 42% of total revenue.
• FTI Consulting's Forensic and Litigation Consulting revenue was $195 million in Q3 2026, flat on $195 million in Q3 2025, 19% of total revenue.
• FTI Consulting's Economic Consulting revenue was $189 million in Q3 2026, up 9% from $173 million in Q3 2025, 19% of total revenue.
• FTI Consulting's Technology revenue was $103 million in Q3 2026, up 10% from $94.1 million in Q3 2025, 10% of total revenue.
• FTI Consulting's Strategic Communications revenue was $101 million in Q3 2026, up 13% from $89.4 million in Q3 2025, 10% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, FTI Consulting said:

“The Company is reaffirming its full year 2026 revenue guidance range of between $3.940 billion and $4.100 billion.”

“The Company now estimates EPS for full year 2026 will range between $7.55 and $8.05, which compares to the prior range of between $8.70 and $9.30.”

“The Company estimates Adjusted EPS will range between $9.50 and $10.00, which compares to the prior range of between $9.10 and $9.70.”

Source: FTI Consulting Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the FCN forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for FTI Consulting's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

FTI Consulting reported record revenue of $1.013 billion in Q3 2026, up 5.9% from $956.2 million a year earlier, with growth in all five segments. Corporate Finance brought in $424.4 million (up 4.8%), Forensic and Litigation Consulting $195.1 million (up 0.2%), Economic Consulting $189.3 million (up 9.3%), Technology $103.2 million (up 9.7%) and Strategic Communications $100.6 million (up 12.5%). (FTI Consulting Q3 2026 release, Oct 29, 2026)

FTI Consulting said Corporate Finance grew on higher success fees and realized bill rates, partly offset by lower demand for turnaround & restructuring and transactions services. On the earnings call the company said Corporate Finance success fees reached a record $40.7 million, including a particularly large fee in its transactions practice tied to the sale of a loan portfolio for the Federal Reserve Bank of Boston. Utilization in the segment fell to 58% from 63%. (FTI Consulting Q3 2026 release, Oct 29, 2026; FTI Consulting Q3 2026 earnings call transcript (8-K Exhibit 99.2), Oct 29, 2026)

In FTI Consulting's other segments, Economic Consulting grew on higher demand for non-M&A-related antitrust and M&A-related antitrust services, and its average billable rate rose to $639 an hour from $597. Technology grew on M&A-related "second request" services, and Strategic Communications on public affairs and corporate reputation work. Forensic and Litigation Consulting was nearly flat: higher realized bill rates were offset by lower demand for risk & investigations and data & analytics services. (FTI Consulting Q3 2026 release, Oct 29, 2026)

FTI Consulting bills mostly on time and expense or fixed-fee arrangements, and some contracts carry success fees tied to client outcomes, which the 10-Q says can cause swings in revenue. In 2025, about 63% of revenue came from professionals based in the U.S. and 37% from international locations, and Corporate Finance was 41% of revenue, Forensic and Litigation Consulting 20%, Economic Consulting 19%, Technology 10% and Strategic Communications 10%. (FTI Consulting Form 10-Q, Q3 2026, Oct 29, 2026; FTI Consulting Form 10-K, 2025, Feb 26, 2026)

FTI Consulting's GAAP diluted EPS fell to $2.35 from $2.60 in Q3 2026, while Adjusted EPS rose to a record $3.84. The gap is a $46.0 million special charge for a plan to align staffing with demand ($45.5 million of salary- and benefits-related costs and $0.5 million of non-cash real estate costs), which cut EPS by $1.36, and $4.5 million of Extraordinary Litigation-Related Expenses from its case against Jonathan Orszag and others, which cut EPS by $0.13. (FTI Consulting Q3 2026 release, Oct 29, 2026)

The effective tax rate fell to 17.8% from 25.9%, which the 10-Q puts down mainly to a favorable return-to-provision adjustment and the net tax benefits of FTI Consulting's tax equity investment. Interest expense rose to $13.3 million from $7.6 million because of higher borrowings on its revolving credit facility and a $300.0 million term loan. On the call, the CEO said that after normalizing for higher success fees, the lower tax rate and smaller favorable items, he had a hard time getting the quarter below $2.90 a share. (FTI Consulting Form 10-Q, Q3 2026, Oct 29, 2026; FTI Consulting Q3 2026 earnings call transcript (8-K Exhibit 99.2), Oct 29, 2026)

Buybacks shrank FTI Consulting's share count. Diluted weighted average shares were 27 million against 31.8 million a year earlier. The company repurchased 523,588 shares in the quarter at an average of $151.55 for $79.4 million, leaving $264.7 million under its repurchase program. Total debt was $852.0 million at September 30, 2026, against $510.0 million a year earlier. (FTI Consulting Q3 2026 release, Oct 29, 2026; FTI Consulting Q3 2026 earnings call transcript (8-K Exhibit 99.2), Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

FTI Consulting gives full-year guidance in its release. With Q3 2026 results it kept 2026 revenue guidance at $3.940 billion to $4.100 billion, cut GAAP EPS guidance to $7.55 to $8.05 from $8.70 to $9.30, and raised Adjusted EPS guidance to $9.50 to $10.00 from $9.10 to $9.70. It attributes the gap between the two EPS ranges to about $1.55 of special charges in the third and fourth quarters and an estimated $0.40 of Extraordinary Litigation-Related Expenses. (FTI Consulting Q3 2026 release, Oct 29, 2026)

FTI Consulting expects a fourth quarter 2026 special charge of about $7 million, bringing the full-year charge to about $53 million, and expects the staffing actions taken in the third and fourth quarters to save about $80 million a year in salary, benefits and real estate costs. (FTI Consulting Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover FTI Consulting, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones FTI Consulting's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning FCN is on is FCN a buy or a sell?, what analysts expect next is on the FCN forecast, and what the company does is on the FTI Consulting (FCN) stock page.

Every number on this page can be traced to a document FTI Consulting published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.