Korn Ferry

Ladies and gentlemen, thank you for standing by and welcome to the Korn Ferry third quarter fiscal year 2023 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 annual report for fiscal year 2022 and the company's soon-to-be-filed quarterly report for the quarter ended January 31, 2023. Also, some of the comments today may reference non-GAAP financial measures such as constant currency amounts, 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 over the company's website at www.cornferry.com. With that, I'll turn the call over to Gary Bernison. Please go ahead, Gary.

Hey, thanks, Greg, and good afternoon, everybody. Thanks for joining us. Number one, I'm very proud of our third quarter performance, particularly in light of the macroeconomic environment. Given our scale and the depth and breadth of our IP data and content, We are incredibly well positioned to enable our clients to navigate an economy and transition. Our strategy is working. We've built synergistic businesses around executive search that are generating more durable fee revenues. We're going to continue to prioritize investment in the larger, faster-growing, less cyclical markets. that set our firm and our clients up for success. As an example, the recent addition of SALO now brings our interim services to be more than 10% of our firm's revenue on a pro forma basis. This wasn't even a business for us a year ago. And yeah, this might be the most anticipated downturn ever, but this is also a transitory time. And like others in the past, it also brings opportunity. It's a proving ground for the efficiency of our strategy, the strength of our culture, the resilience of our colleagues, and the potency of the Corn Fairy brand. With that, Bob, I'll turn it over to you.

Great. Thanks, Gary, and good afternoon or good morning, everyone. You know, our results in the third quarter continue to provide proof that our growth strategy is working. For instance, we continue to demonstrate the ability to to drive top-line synergies between our solutions. As an example, our recent acquisitions in the interim space, which we believe provides real outsized opportunities for growth, they have created almost 700 additional engagement wins, resulting in an incremental $43 million in fee revenue since the third quarter of fiscal year 22 when we acquired the Lucas Group. And this is all through cross-sales between the acquired entities and Legacy Korn Ferry. Cross sales between our other lines of business and both our marquee and regional accounts both continue to also perform very well in the quarter. You know, I recently celebrated my 11th year with Korn Ferry, and one of the reasons why I joined the company was the growth strategy. You know, it really resonated with me, and I believe more deeply in it today. You know, we are relentlessly driving an integrated solutions-based go-to-market strategy delivering unparalleled client excellence, extending the Korn Ferry brand, advancing Korn Ferry as the premier career destination, and we're pursuing transformational opportunities at the intersection of talent and strategy. This growth strategy served us well back in 2012 when I joined, and it continues to do so and even more today. Let me turn the call over to Greg, who will take you through some of the overall company financial highlights.