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."

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."