Executive search revenue rose year over year in most geographies at Heidrick & Struggles International (NASDAQ: HSII). First-quarter revenue rose 10.8% year over year. Results also benefited from the acquisitions of Atreus Group, completed on 1 February 2023, and businessfourzero, completed on 1 April 2023.

“During the first quarter, we generated double-digit top line growth, achieving the high end of our guidance range with solid margin performance,” CEO Tom Monahan said in a press release.

In executive search, all practice groups except consumer and industrial exhibited growth over the year. Heidrick had 424 executive search consultants as of 31 March 2024, compared to 432 as of 31 March 2023. Annualised executive search net revenue per consultant rose to $1.9 million in the first quarter from the $1.8 million in the first quarter of 2023.

Executive search revenue rose by 4.3% in Europe and by 7.1% in the Americas, in constant currency. Total executive search was up 5.5% in constant currency. 

On-Demand Talent revenue increased primarily due to the acquisition of Altreus. Heidrick Consulting net revenue rose with a boost from the acquisition of businessfourzero and increases in leadership assessment and development engagement.

Heidrick forecast second-quarter net revenue of between $255 million and $275 million, which represents a potential year-over-year decline of 6.0% ranging to an increase of 1.4%.

Heidrick & Struggles International Inc shares closed at $29.42, down 2.94% on the day and 16.85% below its 52-week high of $35.38, set on 4 March 2024. The company has a market cap of $594.48 million.