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Sep 30, 2025
PWP Q3 2025 Earnings Report
Perella Weinberg reported a significant year-over-year revenue decline in Q3 2025, but maintained profitability and continued shareholder returns.
Key Takeaways
Perella Weinberg posted $165 million in revenue for Q3 2025, a 41% drop from last year, but remained profitable with GAAP EPS of $0.08 and Adjusted EPS of $0.13, supported by disciplined expense management and strategic hiring.
Q3 2025 revenue was $164.6 million, down 41% year-over-year due to fewer M&A closings
Net income attributable to PWP was $6 million, with GAAP diluted EPS of $0.08 and Adjusted EPS of $0.13
Declared a $0.07 per share quarterly dividend, maintaining consistent shareholder returns
Maintained a strong balance sheet with $185.5 million in cash and no debt
Forward Guidance
PWP is focused on growth through talent acquisition and the Devon Park Advisors deal, and is positioned for improved performance as transaction activity increases.
Positive Outlook
- Hired 25 senior bankers year-to-date, including 12 partners and 9 MDs
- Devon Park Advisors acquisition completed, enhancing strategic capabilities
- Strong balance sheet with $185.5 million in cash and no debt
- Declared consistent quarterly dividend of $0.07 per share
- Maintaining operational discipline with reduced compensation ratios
Challenges Ahead
- Revenue declined 41% YoY due to fewer M&A closings
- GAAP operating margin decreased compared to prior year
- Net income fell significantly compared to Q3 2024
- Adjusted pre-tax income less than half of prior year Q3
Historical Earnings Impact
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Avg. Return Before/After Earnings
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