What happened

Shares of Navigant Consulting (NYSE:NCI) have gotten crushed today, down by 16% as of noon EST, after the company reported fourth-quarter earnings results. The consulting specialist missed expectations on numerous fronts.

So what

Revenue in the fourth quarter rose 9% to $193.2 million, including revenue before reimbursements (RBR) of $174.6 million. That translated into adjusted earnings per share of $0.10, missing the consensus estimate of $0.13 per share in adjusted profit. The company repurchased $57.1 million in stock during the quarter as part of an accelerated share repurchase plan.

People in a business meeting, with papers showing charts next to a laptop

Image source: Getty Images.

"2018 was a year of significant transformation for Navigant," CEO Julie Howard said in a statement. "In the year, we advanced our strategy by becoming a more specialized management consulting and managed services firm with a concentrated focus on industries undergoing significant market, regulatory and technological transformation."

Check out the latest Navigant earnings call transcript.

Now what

In terms of guidance for 2019, Navigant expects revenue of $810 million to $840 million, with RBR of $735 million to $765 million, and adjusted EBITDA of $70 million to $80 million. Adjusted earnings per share for the year is forecast at $0.85 to $1; the midpoint of that guidance is shy of the $0.95 per share in adjusted profits that analysts are expecting. Navigant also expects adjusted free cash flow of $43 million to $53 million, and capital expenditures should be approximately $20 million.

"We enter 2019 with significant opportunities in front of us, the financial flexibility to pursue growth and confidence in our ability to execute," Howard added. "Our future has never been brighter."