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Sep 30, 2025
Houlihan Lokey Q2 2026 Earnings Report
Houlihan Lokey reported higher revenues, net income, and EPS for Q2 2026, driven by growth in all business segments.
Key Takeaways
Houlihan Lokey delivered a strong Q2 2026 with $659M in revenue and $112M in net income. All major segments saw year-over-year revenue growth, supported by improved market activity and increased deal volumes.
Revenue reached $659 million, up from $575 million a year ago.
Net income rose to $112 million, with diluted EPS of $1.63.
Adjusted EPS came in at $1.84, reflecting stronger operating leverage.
Corporate Finance and FVA segments led growth, supported by a higher number of closed transactions and fee events.
Revenue by Segment
Forward Guidance
The company expressed optimism for continued momentum into the second half of the fiscal year, citing strong fundamentals and favorable market conditions.
Positive Outlook
- Improving market conditions expected to continue into H2 FY26
- Strong pipeline of M&A and capital solution engagements
- Positive momentum across all major business segments
- Increased deal volume and client demand observed
- Stable operating margins supported by expense management
Challenges Ahead
- Uncertainty around macroeconomic conditions
- Potential volatility in capital markets
- Pressure on average transaction fees due to deal mix
- Competitive dynamics may impact win rates
- Geopolitical risks could weigh on deal flow
Historical Earnings Impact
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Avg. Return Before/After Earnings
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