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Hill International, Inc.

hillintl.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Nov 14, 2022. Its latest SEC filing is a SC 13G/A from Feb 14, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Provides project and construction management, facilities management and related consulting services to governments and private-sector clients across building, transportation, environmental, energy and industrial markets.

How Did They Make Money?

Clients pay negotiated hourly or monthly rates, or a negotiated multiple of the direct cost of professionals assigned to a project, plus out-of-pocket expenses. Fixed-price clients pay an agreed amount for a specified scope of work, billed as work is performed; reimbursable expenses pass through subcontractor costs.

revenue
SegmentShareRevenue
Consulting fee revenue
81%
FY2018: 79%
Reimbursable expenses
Sold outright

19%
FY2018: 21%

Who Were Their Customers?

Customers include U.S. federal, state and local governments, foreign governments, and private-sector organizations. They are won mainly through competitive proposal processes.

Did Revenues Turn Into Profits?

No. It lost $4.3M in FY2021.

Operating income, FY2021
2% of revenue
▼ −12% vs FY2020 ($10.5M, 3%)
Net income, FY2021
−1% of revenue
▼ −48% (Loss) vs FY2020 (−$8.2M, −2%)
Free cash flow, FY2021
−4% of revenue
▼ Now a loss vs FY2020 ($10.5M, 3%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q3 FY2022, the three months to Sep 30, 2022
Revenue
▲ +13%
vs $96.6M in Q3 FY2021
Net income
▼ Now a loss
vs $1.3M in Q3 FY2021
Consulting fee revenue share of revenue vs 100.0% in Q3 FY2021
  • Dec 27, 2022 GISI completed its acquisition of Hill, making it a wholly owned subsidiary. Hill shares ceased trading on the New York Stock Exchange after the merger closed.

Shrank. Revenue fell 22% in 4 years, from $483.7M in FY2017 to $377.4M in FY2021, about 6% a year.

Revenue over time
Consulting fee revenue Reimbursable expenses
$500M$250M$0

Who Did They Compete With?

Competes with AECOM, ARCADIS, Jacobs Engineering Group, WSP, Parsons, CBRE, HDR, Burns & McDonnel, and Dar Group

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