FTI Consulting, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenues of $512,098,000 compared to $444,715,000 a year ago. Operating income was $61,831,000 compared to $29,000 a year ago. Income before tax provision was $57,722,000 compared to loss before tax provision of $4,629,000 a year ago. Net income was $43,609,000 or $1.14 per diluted share compared to net loss of $5,156,000 or $0.13 per diluted share a year ago. Adjusted net income was $43,609,000 or $1.14 per diluted share compared to $16,147,000 or $0.40 per diluted share a year ago. Adjusted EBITDA was $72,371,000 compared to $40,788,000 a year ago. The company generated net cash from operating activities of $34.6 million and free cash flow of $26.1 million in the quarter.

For the six months, the company reported revenues of $1,009,872,000 compared to $891,059,000 a year ago. Operating income was $124,090,000 compared to $27,118,000 a year ago. Income before tax provision was $111,937,000 compared to $17,264,000 a year ago. Net income was $82,554,000 or $2.18 per diluted share compared to $8,860,000 or $0.22 per diluted share a year ago. Adjusted net income was $82,554,000 or $2.18 per diluted share compared to $30,264,000 or $0.75 per diluted share a year ago. Adjusted EBITDA was $144,665,000 compared to $79,107,000 a year ago.

The company is revising its full year 2018 guidance. The company now estimates that 2018 revenues will range between $1.910 billion and $1.960 billion. This compares to the previous revenue range of between $1.825 billion and $1.875 billion. The company now estimates that 2018 EPS will range between $2.90 and $3.30. This compares to the previous EPS range of between $2.35 and $2.65.

For the balance of 2018, the company expects effective tax rate to be between 27% and 29%.