Shares of Korn Ferry were down 10% by midday to $53.95 after the company said it expected adjusted earnings to fall in its fiscal second quarter.
The consulting company is guiding for adjusted earnings to be between $1.34 and $1.50 a share, compared with $1.53 a share last year.
Despite an expected rise in fee revenue year-over-year, the company warned that global inflation, rising interest rates, and escalating geopolitical tensions presented a level of uncertainty going forward that is “hard to quantify.”
The company logged adjusted earnings of $1.50 a share for the fiscal first quarter, one cent under what analysts polled by FactSet had been expecting.
Shares are down 29% this year. They hit a 52-week low of $51.08 back in June.