Heidrick & Struggles International, Inc. reported third‑quarter 2025 results showing net revenue of $322.8 million, a 15.9% year‑over‑year increase from $278.6 million in the same period last year.
Adjusted EBITDA rose to $34.2 million, up 12.6% from $30.4 million in Q3 2024, while the adjusted EBITDA margin fell 30 basis points to 10.6%. Net income reached $17.6 million and diluted earnings per share were $0.83, beating analyst estimates of $0.76 to $0.77.
Segment performance highlighted continued strength in executive search, which generated $239.1 million in revenue, a 17.0% increase from $204.4 million in Q3 2024. On‑demand talent revenue grew 10.1% to $50.9 million, and consulting revenue increased 17.6% to $32.8 million.
The company did not provide new guidance, but the results exceeded many analysts’ expectations. A definitive agreement to be acquired by an investor consortium led by Advent International and Corvex Private Equity for $59.00 per share was announced on October 6 2025, and the board declared a cash dividend of $0.15 per share payable on November 26 2025. CEO Tom Monahan noted that the results exceeded the high end of the company’s outlook and emphasized a focus on partnering with clients and driving sustainable growth and profitability.
Regional performance showed a slight decline in Executive Search revenue in the Asia Pacific region (3.9%) while the Americas and Europe continued to perform strongly. For comparison, Q2 2025 net revenue was $317.2 million, indicating a modest quarter‑over‑quarter increase.
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