Form 8-K
8-K — KORN FERRY
Accession: 0000056679-26-000029
Filed: 2026-09-09
Period: 2026-09-09
CIK: 0000056679
SIC: 7361 (SERVICES-EMPLOYMENT AGENCIES)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — kfy-20260909.htm (Primary)
EX-99.1 (kfy-20260731xex991q1fy27.htm)
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8-K
8-K (Primary)
Filename: kfy-20260909.htm · Sequence: 1
kfy-20260909
false000005667900000566792026-09-092026-09-09
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________________________
FORM 8-K
_______________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 9, 2026
_______________________________________________________
KORN FERRY
(Exact name of registrant as specified in its charter)
_______________________________________________________
Delaware 001-14505 95-2623879
(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.)
1900 Avenue of the Stars, Suite 1225
Los Angeles, California 90067
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (310) 552-1834
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share KFY New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On September 9, 2026, Korn Ferry issued a press release announcing its first quarter fiscal year 2027 results. A copy of the press release is attached hereto as Exhibit 99.1. The information in this Item 2.02 and the exhibit hereto are furnished to, but not filed with, the Securities and Exchange Commission.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
Exhibit 99.1
Press Release, dated September 9, 2026.
Exhibit 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
KORN FERRY
(Registrant)
Date: September 9, 2026 /s/ Robert P. Rozek
(Signature)
Name: Robert P. Rozek
Title: Executive Vice President, Chief Financial Officer and
Chief Corporate Officer
EX-99.1
EX-99.1
Filename: kfy-20260731xex991q1fy27.htm · Sequence: 2
Document
Exhibit 99.1
FOR IMMEDIATE RELEASE Contacts:
Investor Relations: Tiffany Louder, (214) 310-8407
Media: Dan Gugler, (310) 226-2645
Korn Ferry Announces First Quarter Fiscal 2027
Results of Operations
Highlights
▪Korn Ferry reports Q1 FY'27 fee revenue of $756.5 million, an increase of 7% year-over-year at both actual and constant currency.
•This marks our sixth consecutive quarter of top line growth.
•Fee revenue grew in all regions year-over-year, led by double digit growth in Search and Workforce Solutions of 10% and 11%, respectively.
▪Estimated remaining fees under existing contracts at the end of the first quarter were $1.9 billion, up 14% year-over-year.
▪Net income attributable to Korn Ferry was $69.0 million, an increase of 4% year-over-year, with a margin of 9.1%.
▪Adjusted EBITDA was $128.2 million, an increase of 7% year-over-year, with a margin of 17%.
▪Diluted and adjusted diluted earnings per share were $1.32 and $1.43 in Q1 FY'27, up 5% and 9% year-over-year, respectively.
Los Angeles, CA, September 9, 2026 – Korn Ferry (NYSE: KFY), a global consulting firm, today announced first quarter fee revenue of $756.5 million. In addition, first quarter diluted earnings per share was $1.32 and adjusted diluted earnings per share was $1.43.
“I am very pleased with our quarterly performance. This marks our sixth consecutive quarter of top-line growth, demonstrating the momentum and durability of our business, as well as the sustaining value we are creating for our clients,” said Gary D. Burnison, CEO, Korn Ferry. “With AMS now part of Korn Ferry, we have brought together two iconic brands to create a global leader in talent and organizational consulting. AMS is a world-class firm that complements and meaningfully expands our Workforce Solutions and propels our We Are Korn Ferry strategy—to be the world’s conductor of talent and organizational orchestration.
“AMS brings profound operational capability, delivering technology-enabled talent solutions at scale, supported by long-term contracted client relationships. And at the heart of this combination is a belief that defines Korn Ferry: people are the catalyst for organizational success. I could not be more excited about our future.”
1
Selected Financial Results
(dollars in millions, except per share amounts) (a)
First Quarter
FY’27 FY’26
Fee revenue $ 756.5 $ 708.6
Total revenue $ 764.6 $ 715.5
Estimated remaining fees under existing contracts (b)
$ 1,915.0 $ 1,674.1
New business (c)
$ 832.3 $ 742.2
Fee earner new business productivity (d) - in thousands $ 1,840 $ 1,610
Ending number of fee earners (e) 1,811 1,830
Net income attributable to Korn Ferry
$ 69.0 $ 66.6
Net income attributable to Korn Ferry margin
9.1 % 9.4 %
Basic earnings per share
$ 1.35 $ 1.28
Diluted earnings per share
$ 1.32 $ 1.26
Adjusted Results (f): First Quarter
FY’27 FY’26
Adjusted EBITDA $ 128.2 $ 120.4
Adjusted EBITDA margin 17.0 % 17.0 %
Adjusted net income attributable to Korn Ferry (g) $ 74.6 $ 69.2
Adjusted basic earnings per share (g) $ 1.46 $ 1.33
Adjusted diluted earnings per share (g) $ 1.43 $ 1.31
______________________
(a)Numbers may not total due to rounding.
(b)Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.
(c)Estimated value of an engagement awarded in the period evidenced by a signed contract.
(d)New business divided by average number of fee earners in the period annualized.
(e)Represents number of employees originating services.
(f)Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, further adjusted to exclude integration/acquisition costs, when applicable. Adjusted results on a consolidated basis are non-GAAP financial measures that adjust for the following, as applicable (see attached reconciliations):
First Quarter
FY’27 FY’26
Integration/acquisition costs $ 7.6 $ 1.5
(g)Adjusted net income attributable to Korn Ferry, Adjusted basic earnings per share and Adjusted diluted earnings per share are non-GAAP financial measures that adjust for items in (f) and the following, as applicable (see attached reconciliations):
First Quarter
FY’27 FY’26
Accelerated depreciation on digital technology platform $ — $ 2.0
Tax effect on the adjusted items $ (1.9) $ (0.9)
The Company reported fee revenue in Q1 FY'27 of $756.5 million, an increase of 7% year-over-year at both actual and constant currency. Fee revenue grew in all Regions year-over-year, led by double digit growth in Search and Workforce Solutions.
Net income attributable to Korn Ferry was $69.0 million with a margin of 9.1% in Q1 FY'27, compared to net income attributable to Korn Ferry of $66.6 million with a margin of 9.4% in Q1 FY'26. Adjusted EBITDA was $128.2 million in Q1 FY'27 compared to $120.4 million in Q1 FY'26. Adjusted EBITDA margin in the quarter was 17.0%, flat year-over-year. Net income attributable to Korn Ferry and Adjusted EBITDA increased primarily due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and general and administrative expenses.
2
Results by Region
Selected Americas Data
(dollars in millions) (a)
First Quarter
FY’27 FY’26
Fee revenue $ 442.1 $ 404.1
Total revenue $ 447.6 $ 408.5
Estimated remaining fees under existing contracts (b)
$ 1,042.1 $ 875.1
New business (c)
$ 465.7 $ 404.1
Fee earner new business productivity (d) - in thousands $ 1,920 $ 1,630
Ending number of fee earners (e) 971 973
Adjusted Results (f): First Quarter
FY’27 FY’26
Adjusted EBITDA $ 116.4 $ 100.7
Adjusted EBITDA margin 26.3 % 24.9 %
______________________
(a)Numbers may not total due to rounding.
(b)Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.
(c)Estimated value of an engagement awarded in the period evidenced by a signed contract.
(d)New business divided by average number of fee earners in the period annualized.
(e)Represents number of employees originating services.
(f)Adjusted results exclude the following:
First Quarter
FY’27 FY’26
Integration/acquisition costs $ — $ 0.7
Fee revenue was $442.1 million in Q1 FY'27 compared to $404.1 million in Q1 FY'26, an increase of $38.0 million or 9% year-over-year at both actual and constant currency. The fee revenue increase was primarily driven by increases of 14% in both Search and Workforce Solutions.
Adjusted EBITDA was $116.4 million in Q1 FY'27 compared to $100.7 million in the year-ago quarter. Adjusted EBITDA margin in the quarter increased year-over-year by 140bps to 26.3%. Adjusted EBITDA increased primarily due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and cost of services.
3
Selected EMEA Data
(dollars in millions) (a)
First Quarter
FY’27 FY’26
Fee revenue $ 227.7 $ 219.0
Total revenue $ 229.6 $ 220.9
Estimated remaining fees under existing contracts (b)
$ 646.9 $ 572.5
New business (c) $ 251.7 $ 227.3
Fee earner new business productivity (d) - in thousands $ 1,790 $ 1,580
Ending number of fee earners (e) 556 578
Adjusted Results (f): First Quarter
FY’27 FY’26
Adjusted EBITDA $ 37.3 $ 35.7
Adjusted EBITDA margin 16.4 % 16.3 %
______________________
(a)Numbers may not total due to rounding.
(b)Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.
(c)Estimated value of an engagement awarded in the period evidenced by a signed contract.
(d)New business divided by average number of fee earners in the period annualized.
(e)Represents number of employees originating services.
(f)Adjusted results exclude the following:
First Quarter
FY’27 FY’26
Integration/acquisition costs $ — $ 0.8
Fee revenue was $227.7 million in Q1 FY'27 compared to $219.0 million in Q1 FY'26, an increase of $8.7 million or 4% year-over-year at both actual and constant currency. Fee revenue increased in all Solution groups, led by Workforce Solutions and Talent & Organizational Solutions up 8% and 4%, respectively.
Adjusted EBITDA was $37.3 million in Q1 FY'27, compared to $35.7 million in the year-ago quarter. Adjusted EBITDA increased primarily due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and cost of services.
4
Selected APAC Data
(dollars in millions) (a)
First Quarter
FY’27 FY’26
Fee revenue $ 86.7 $ 85.5
Total revenue $ 87.5 $ 86.2
Estimated remaining fees under existing contracts (b) $ 226.0 $ 226.6
New business (c)
$ 114.9 $ 110.7
Fee earner new business productivity (d) - in thousands $ 1,620 $ 1,570
Ending number of fee earners (e) 284 279
Adjusted Results: First Quarter
FY’27 FY’26
Adjusted EBITDA $ 19.2 $ 19.8
Adjusted EBITDA margin 22.2 % 23.1 %
______________________
(a)Numbers may not total due to rounding.
(b)Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.
(c)Estimated value of an engagement awarded in the period evidenced by a signed contract.
(d)New business divided by average number of fee earners in the period annualized.
(e)Represents number of employees originating services.
Fee revenue was $86.7 million in Q1 FY'27 compared to $85.5 million in Q1 FY'26, an increase of $1.2 million or 1% (up 2% at constant currency). Fee revenue increased primarily driven by a 7% increase in Search, offset by a decline in the other Solution Groups.
Adjusted EBITDA was $19.2 million in Q1 FY'27 compared to $19.8 million in the year-ago quarter.
5
Outlook
Assuming no further changes in worldwide geopolitical conditions, economic conditions, financial markets and foreign exchange rates, and including the addition of AMS for September and October, on a consolidated basis:
▪Q2 FY’27 fee revenue is expected to be in the range of $860 million and $878 million;
▪Q2 FY'27 adjusted EBITDA margin is expected to range from 16.8% to 17.2%; and
▪Q2 FY’27 adjusted diluted earnings per share is expected to be in the range from $1.30 to $1.40.
Adjusted diluted earnings per share includes the net after tax impact of two months of incremental intangible asset amortization, incremental net interest expense and incremental shares issued in connection with the acquisition of AMS which closed on September 1, 2026.
Consolidated adjusted EBITDA margin and consolidated adjusted diluted earnings per share are non-GAAP financial measures. The Company is not providing an outlook for consolidated net income attributable to Korn Ferry margin or consolidated diluted earnings per share, the most directly comparable GAAP measures, or a quantitative reconciliation of those GAAP measures to the corresponding non-GAAP measures. The information necessary to present those GAAP measures on a forward-looking basis is not accessible without unreasonable efforts, because the Company is not able to estimate with reasonable certainty the integration and acquisition costs it will incur in connection with the AMS acquisition during the second quarter of fiscal 2027.
Earnings Conference Call Webcast
The earnings conference call will be held today at 12:00 PM (EDT) and hosted by CEO Gary Burnison, CFO Robert Rozek, SVP Business Development & Analytics Gregg Kvochak and VP Investor Relations Tiffany Louder. The conference call will be webcast and available online at ir.kornferry.com. We will also post to the investor relations section of our website earnings slides, which will accompany our webcast, and other important information, and encourage you to review the information that we make available on our website.
6
About Korn Ferry
Korn Ferry is a global consulting firm that powers performance. We unlock the potential in your people and unleash transformation across your business—synchronizing strategy, operations, and talent to accelerate performance, fuel growth, and inspire a legacy of change. That’s why the world’s most forward-thinking companies across every major industry turn to us—for a shared commitment to lasting impact and the bold ambition to Be More Than.
Forward-Looking Statements
Statements in this press release and our conference call that relate to our outlook, projections, goals, strategies, future plans and expectations, including statements relating to expected labor market conditions, expected demand for and relevance of our products and services, expected results of our business diversification strategy, expected benefits and synergies from the AMS acquisition, impact of global events on our business, and other statements of future events or conditions are forward-looking statements that involve a number of risks and uncertainties. Words such as “believes”, “expects”, “anticipates”, “goals”, “estimates”, “guidance”, “may”, “should”, “could”, “will” or “likely”, and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Such statements are based on current expectations; actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties that are beyond the control of Korn Ferry. The potential risks and uncertainties include those relating to global and local political and or economic developments in or affecting countries where we have operations, such as inflation, trade wars, interest rates, labor market conditions, global slowdowns, or recessions, competition, geopolitical tensions, including the recent Middle East conflict, shifts in global trade patterns, changes in demand for our services as a result of automation, dependence on and costs of attracting and retaining qualified and experienced consultants, impact of inflationary pressures on our profitability, our ability to maintain relationships with customers and suppliers and retaining key employees, maintaining our brand name and professional reputation, our ability to successfully integrate acquired businesses, including the operations and employees of AMS, our ability to recognize the anticipate benefits of the acquisition of AMS which may be affected by, among other things, competition, our ability to grow and manage growth profitably, our ability to maintain relationships with customers and suppliers and retain key employees, costs related to the AMS acquisition, potential legal liability and regulatory developments, portability of client relationships, consolidation of or within the industries we serve, changes and developments in government laws and regulations, evolving investor and customer expectations with regard to corporate responsibility matters, currency fluctuations in our international operations, risks related to growth, alignment of our cost structure, including as a result of recent workforce, real estate, and other restructuring initiatives, restrictions imposed by off-limits agreements, reliance on information processing systems, cyber security vulnerabilities or events, changes to data security, data privacy, and data protection laws, dependence on third parties for the execution of critical functions, limited protection of our intellectual property, our ability to enhance, develop and respond to new technology, including artificial intelligence, our ability to successfully recover from a disaster or other business continuity problems, employment liability risk, an impairment in the carrying value of goodwill and other intangible assets, treaties, or regulations on our business and our Company, deferred tax assets that we may not be able to use, our ability to develop new products and services, changes in our accounting estimates and assumptions, the utilization and billing rates of our consultants, seasonality, the use of social media platforms, the ability to effect acquisitions, resulting organizational changes, our indebtedness, and those relating to the ultimate magnitude and duration of any pandemic or outbreaks. For a detailed description of risks and uncertainties that could cause differences from our expectations, please refer to Korn Ferry’s periodic filings with the Securities and Exchange Commission. Korn Ferry disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Use of Non-GAAP Financial Measures
This press release contains financial information calculated other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). In particular, it includes:
•Adjusted net income attributable to Korn Ferry, adjusted to exclude accelerated depreciation on our digital technology platform and integration/acquisition costs, net of income tax effect;
•Adjusted basic and diluted earnings per share, adjusted to exclude cost associated with accelerated depreciation on our digital technology platform and integration/acquisition costs, net of income tax effect;
•Constant currency (calculated using a quarterly average) percentages that represent the percentage change that would have resulted had exchange rates in the prior period been the same as those in effect in the current period; and
•Consolidated Adjusted EBITDA, which is earnings before interest, taxes, depreciation and amortization, further adjusted to exclude integration/acquisition costs when applicable, and Consolidated Adjusted EBITDA margin.
This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.
7
Management believes the presentation of non-GAAP financial measures in this press release provides meaningful supplemental information regarding Korn Ferry’s performance by excluding certain charges that may not be indicative of Korn Ferry’s ongoing operating results. These non-GAAP financial measures are performance measures and are not indicative of the liquidity of Korn Ferry. These charges, which are described in the footnotes in the attached reconciliations, represent 1) accelerated depreciation associated with the decision to sunset our digital technology platform and 2) costs associated with acquisitions, such as legal and professional fees, retention awards and on-going integration expenses. The use of non-GAAP financial measures facilitates comparisons to Korn Ferry’s historical performance. Korn Ferry includes non-GAAP financial measures because management believes they are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its evaluation of Korn Ferry’s ongoing operations and financial and operational decision-making. Adjusted net income attributable to Korn Ferry, adjusted basic and diluted earnings per share and Consolidated Adjusted EBITDA, exclude certain charges that management does not consider on-going in nature and allows management and investors to make more meaningful period-to-period comparisons of the Company’s operating results. Management further believes that Consolidated Adjusted EBITDA is useful to investors because it is frequently used by investors and other interested parties to measure operating performance among companies with different capital structures, effective tax rates and tax attributes and capitalized asset values, all of which can vary substantially from company to company. In the case of constant currency percentages, management believes the presentation of such information provides useful supplemental information regarding Korn Ferry's performance as excluding the impact of exchange rate changes on Korn Ferry's financial performance allows investors to make more meaningful period-to-period comparisons of the Company’s operating results, to better identify operating trends that may otherwise be masked or distorted by exchange rate changes and to perform related trend analysis, and provides a higher degree of transparency of information used by management in its evaluation of Korn Ferry's ongoing operations and financial and operational decision-making.
[Tables attached]
8
KORN FERRY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
Three Months Ended
July 31,
2026 2025
(unaudited)
Fee revenue $ 756,496 $ 708,613
Reimbursed out-of-pocket engagement expenses 8,126 6,930
Total revenue 764,622 715,543
Compensation and benefits 477,362 461,411
General and administrative expenses 80,231 63,874
Reimbursed expenses 8,126 6,930
Cost of services 83,328 77,194
Depreciation and amortization 22,195 22,686
Total operating expenses 671,242 632,095
Operating income 93,380 83,448
Other income, net
5,107 12,752
Interest expense, net (4,342) (3,516)
Income before provision for income taxes 94,145 92,684
Income tax provision 24,648 25,250
Net income 69,497 67,434
Net income attributable to noncontrolling interest (530) (798)
Net income attributable to Korn Ferry
$ 68,967 $ 66,636
Earnings per common share attributable to Korn Ferry:
Basic $ 1.35 $ 1.28
Diluted $ 1.32 $ 1.26
Weighted-average common shares outstanding:
Basic 50,351 51,466
Diluted 51,347 52,368
KORN FERRY AND SUBSIDIARIES
FINANCIAL SUMMARY BY REPORTING SEGMENT
(dollars in thousands)
(unaudited)
Three Months Ended July 31,
2026 2025 % Change
Fee revenue:
AMERICAS
Search $ 209,325 $ 183,723 13.9 %
Talent & Organizational Solutions 106,853 110,061 (2.9 %)
Workforce Solutions 125,951 110,351 14.1 %
Total Americas 442,129 404,135 9.4 %
EMEA
Search 66,836 65,499 2.0 %
Talent & Organizational Solutions 115,366 111,415 3.5 %
Workforce Solutions 45,468 42,041 8.2 %
Total EMEA 227,670 218,955 4.0 %
APAC
Search 31,737 29,702 6.9 %
Talent & Organizational Solutions 37,001 37,684 (1.8 %)
Workforce Solutions 17,959 18,137 (1.0 %)
Total APAC 86,697 85,523 1.4 %
Total fee revenue 756,496 708,613 6.8 %
Reimbursed out-of-pocket engagement expenses 8,126 6,930 17.3 %
Total revenue $ 764,622 $ 715,543 6.9 %
Fee revenue by Solution Group:
Search $ 307,898 $ 278,924 10.4 %
Talent & Organizational Solutions 259,220 259,160 — %
Workforce Solutions 189,378 170,529 11.1 %
Total fee revenue $ 756,496 $ 708,613 6.8 %
KORN FERRY AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
July 31,
2026
April 30,
2026 (1)
(unaudited)
ASSETS
Cash and cash equivalents $ 800,852 $ 1,095,445
Marketable securities 15,439 38,914
Receivables due from clients, net of allowance for doubtful accounts of $44,591 and $42,527 at July 31, 2026 and April 30, 2026, respectively 615,274 573,350
Income taxes and other receivables 68,265 75,410
Unearned compensation 67,215 64,421
Prepaid expenses and other assets 71,923 58,437
Total current assets 1,638,968 1,905,977
Marketable securities, non-current 234,778 247,132
Property and equipment, net 193,676 191,531
Operating lease right-of-use assets, net 170,191 170,986
Cash surrender value of company-owned life insurance policies, net of loans 304,906 289,058
Deferred income taxes 118,383 113,207
Goodwill 945,837 950,636
Intangible assets, net 39,754 45,858
Unearned compensation, non-current 140,457 118,592
Investments and other assets 29,926 31,799
Total assets $ 3,816,876 $ 4,064,776
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable $ 50,316 $ 49,682
Income taxes payable 18,718 19,573
Compensation and benefits payable 299,408 570,242
Operating lease liability, current 30,621 28,111
Other accrued liabilities 292,154 314,402
Total current liabilities 691,217 982,010
Deferred compensation and other retirement plans 531,991 510,774
Operating lease liability, non-current 163,701 164,899
Long-term debt 398,778 398,565
Deferred tax liabilities 6,607 5,723
Other liabilities 23,305 23,902
Total liabilities 1,815,599 2,085,873
Stockholders' equity
Common stock: $0.01 par value, 150,000 shares authorized, 80,165 and 79,203 shares issued and 50,790 and 50,225 shares outstanding at July 31, 2026 and April 30, 2026, respectively 276,212 284,370
Retained earnings 1,799,808 1,761,063
Accumulated other comprehensive loss, net (81,633) (72,827)
Total Korn Ferry stockholders' equity 1,994,387 1,972,606
Noncontrolling interest 6,890 6,297
Total stockholders' equity 2,001,277 1,978,903
Total liabilities and stockholders' equity $ 3,816,876 $ 4,064,776
(1) information is derived from audited financial statements included in our most recently filed Form 10-K.
KORN FERRY AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(dollars in thousands)
(unaudited)
Three Months Ended
July 31,
2026 2025
Net income attributable to Korn Ferry
$ 68,967 $ 66,636
Net income attributable to non-controlling interest 530 798
Net income 69,497 67,434
Income tax provision 24,648 25,250
Income before provision for income taxes 94,145 92,684
Interest expense, net 4,342 3,516
Depreciation and amortization (1) 22,195 22,686
Integration/acquisition costs (2) 7,554 1,508
Adjusted EBITDA $ 128,236 $ 120,394
Net income attributable to Korn Ferry margin
9.1 % 9.4 %
Net income attributable to non-controlling interest 0.1 % 0.1 %
Income tax provision 3.3 % 3.6 %
Interest expense, net 0.6 % 0.5 %
Depreciation and amortization (1) 2.9 % 3.2 %
Integration/acquisition costs (2) 1.0 % 0.2 %
Adjusted EBITDA margin 17.0 % 17.0 %
Net income attributable to Korn Ferry
$ 68,967 $ 66,636
Accelerated depreciation on digital technology platform (1) — 1,977
Integration/acquisition costs (2) 7,554 1,508
Tax effect on the adjusted items (3)
(1,897) (883)
Adjusted net income attributable to Korn Ferry $ 74,624 $ 69,238
Basic earnings per common share
$ 1.35 $ 1.28
Accelerated depreciation on digital technology platform (1) — 0.04
Integration/acquisition costs (2) 0.15 0.03
Tax effect on the adjusted items (3)
(0.04) (0.02)
Adjusted basic earnings per share $ 1.46 $ 1.33
Diluted earnings per common share
$ 1.32 $ 1.26
Accelerated depreciation on digital technology platform (1) — 0.04
Integration/acquisition costs (2) 0.15 0.03
Tax effect on the adjusted items (3)
(0.04) (0.02)
Adjusted diluted earnings per share $ 1.43 $ 1.31
Explanation of Non-GAAP Adjustments
(1)Depreciation and amortization includes $2.0 million of accelerated depreciation associated with the decision to sunset the digital technology platform in the three months ended July 31, 2025.
(2)Costs associated with current and previous acquisitions, such as legal and professional fees, retention awards and the on-going integration expenses.
(3)Tax effect on the accelerated depreciation on the digital technology platform and integration/acquisition costs.
KORN FERRY AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - CONTINUED
(dollars in thousands)
(unaudited)
Three Months Ended July 31,
2026 2025
Net income attributable to
Korn Ferry
Net income attributable to
Korn Ferry margin
Net income attributable to
Korn Ferry
Net income attributable to
Korn Ferry margin
Consolidated
$ 68,967 9.1 % $ 66,636 9.4 %
Fee revenue Total revenue Adjusted EBITDA Adjusted EBITDA margin Fee revenue Total revenue Adjusted EBITDA Adjusted EBITDA margin
Americas $ 442,129 $ 447,550 $ 116,419 26.3 % $ 404,135 $ 408,462 $ 100,747 24.9 %
EMEA 227,670 229,580 37,280 16.4 % 218,955 220,875 35,727 16.3 %
APAC 86,697 87,492 19,219 22.2 % 85,523 86,206 19,769 23.1 %
Corporate — — (44,682) — — (35,849)
Consolidated
$ 756,496 $ 764,622 $ 128,236 17.0 % $ 708,613 $ 715,543 $ 120,394 17.0 %
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v3.26.1
Document and Entity Information
Sep. 09, 2026
Cover [Abstract]
Document Type
8-K
Document Period End Date
Sep. 09, 2026
Entity Registrant Name
KORN FERRY
Entity Incorporation, State or Country Code
DE
Entity File Number
001-14505
Entity Tax Identification Number
95-2623879
Entity Address, Address Line One
1900 Avenue of the Stars
Entity Address, Address Line Two
Suite 1225
Entity Address, City or Town
Los Angeles
Entity Address, State or Province
CA
Entity Address, Postal Zip Code
90067
City Area Code
(310)
Local Phone Number
552-1834
Written Communications
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Pre Commencement Tender Offer
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Title of 12(b) Security
Common Stock, par value $0.01 per share
Trading Symbol
KFY
Security Exchange Name
NYSE
Entity Emerging Growth Company
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Entity Central Index Key
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