Korn Ferry ( KFY ) shares are trading higher after the company reported fourth-quarter FY24 results.

Revenue fell 5.2% Y/Y to $699.9 million, beating the consensus of $689.92 million. The fee revenue of the global organizational consulting firm was $690.80 million, a decrease of 5.5% Y/Y.

Adjusted EBITDA rose to $112.3 million from $97.9 million, with an adjusted margin of 16.3%, an increase of 290bps Y/Y in the quarter. Adjusted EPS of $1.26 beats the estimate of $1.12.

The company exited the quarter with cash and equivalents worth $983.7 million. 

Dividend: On June 12, the company increased its regular quarterly dividend per share to $0.37 (from $0.33), payable on July 31 to stockholders of record on July 3.

During the quarter, the company repurchased 365,000 shares of stock for $22.9 million, bringing the full year’s total repurchases to 930,000 shares for $52.5 million.

Outlook: Korn Ferry ( KFY ) expects first-quarter adjusted EPS of $1.07-$1.17, versus consensus of $1.06 and fee revenue of $655 million-$675 million.

Gary D. Burnison, CEO, Korn Ferry ( KFY ) said, “In an economic environment in which companies are fighting for growth and relevancy, our portfolio is performing as designed and the strategy is clearly working. Cyclically sensitive talent acquisition offerings are being buoyed by continued stability from our diversified offerings – particularly Consulting, complemented by Digital, which have generated solid performance.”

“As we look to a new fiscal year, I have never been more proud of our organization – from our colleagues, expertise, IP and insights to the incredibly innovative and relevant solutions we offer to clients in a rapidly changing world.”

Investors can gain exposure to Korn Ferry ( KFY ) via Elevation Series Trust Sovereign's Capital Flourish Fund  and Invesco S&P SmallCap Industrials ETF ( PSCI ) .

Price Action: KFY shares are up 6.26% at $67.38 at the last check Thursday.