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FTI Consulting shares fall as antitrust consulting market share slips
In its Q2 2026 investor letter, Sycamore Mid Cap Value Equity Strategy cited weak 1Q26 EPS driven by rising SG&A expenses and said the Economic Consulting segment lost market share in U.S. antitrust consulting.
Sycamore Capital’s Sycamore Mid Cap Value Equity Strategy highlighted FTI Consulting Inc. as a top detractor in its Q2 2026 investor letter, pointing to pressure on the company’s top line after it lost market share in U.S. antitrust consulting.
The investor letter said shares traded lower following what it described as a disappointing 1Q26 release. It noted that while revenue held up, EPS came in below analyst expectations, and it attributed the miss to rising SG&A expenses expected to persist through the rest of 2026.
Sycamore Capital also characterized FTI’s Economic Consulting segment as having lost market share in U.S. antitrust consulting, framing that as a key issue for the firm’s performance.
The filing backdrop also contrasted mid-cap value returns with broad index gains, stating the strategy returned 9.6% net in Q2 2026, below the Russell Midcap Value Index’s 13.83% return, and it linked the underperformance to both stock selection and sector allocation.