FTI Consulting (FCN) Q2 2026 Earnings Miss and Guidance Cut Explained
As seen on the 24/7 Wall St. homepage on July 31, 2026.
FTI Consulting missed earnings and cut full-year GAAP EPS guidance as $6.6 million in litigation costs and higher operating expenses offset 5.3% revenue growth. Corporate Finance surged 8.5% with transformation demand up 26% year-over-year, but profit fell nearly 20% as SG&A ballooned and Economic Consulting remained under pressure.
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FTI Consulting reported Q2 2026 earnings per share of $2.16, falling about 4.4% short of the $2.26 consensus estimate. Revenue of $993.5 million also came in just below expectations of $997.6 million. The company followed the miss by cutting its full-year GAAP EPS guidance, citing $6.6 million in litigation costs alongside higher operating expenses that ate into what was otherwise a period of solid top-line momentum.
The headline numbers mask a divided picture across business segments. Corporate Finance was the standout, with revenue growing 8.5% and transformation-related demand surging 26% year-over-year. Despite that top-line strength, segment profit fell nearly 20% as selling, general and administrative expenses ballooned. Economic Consulting remained a separate drag, keeping overall profitability under pressure even as total company revenue grew 5.3%.
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Looking at recent history, this miss breaks a streak of positive surprises: FTI beat estimates in Q4 2024, Q1 2025, Q2 2025, Q3 2025, and Q1 2026. The guidance cut signals that management expects the cost pressures — not just the one-time litigation charge — to persist into the back half of the year, making the trajectory of SG&A discipline and Economic Consulting's recovery the two most important things to watch in coming quarters.
Mentioned: FCN