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Mar 31
Lazard Q1 2025 Earnings Report
Lazard reported $648M in revenue and $60M in net income for Q1 2025, with steady client activity and progress on strategic initiatives.
Key Takeaways
Lazard delivered stable earnings in Q1 2025 amid an uncertain environment, with resilient client engagement and continued execution of its Lazard 2030 strategy.
Generated $60M in net income and $0.56 EPS on both GAAP and adjusted basis
Revenue totaled $648M (GAAP), down from $765M in Q1 2024
Asset Management and Financial Advisory businesses saw declines year-over-year
Launched new ETFs and announced strategic alliance with Arini Capital
Lazard
Lazard
Lazard Revenue by Segment
Revenue by Segment
Financial Advisory Revenue
CapyFin.comAsset Management Revenue
CapyFin.com Forward Guidance
Lazard continues to emphasize long-term growth through its Lazard 2030 strategy, with stable client activity expected to support future quarters.
Positive Outlook
- Continued client engagement across advisory and asset management
- Successful launch of three new active ETFs in the U.S.
- Strategic alliance with Arini Capital to expand private capital connectivity
- Progress toward Lazard 2030 hiring and promotion targets
- Strong liquidity with $909M in cash and equivalents
Challenges Ahead
- Revenue declined 15% YoY, driven by lower advisory and asset management revenue
- AUM decreased 9% YoY
- Adjusted operating income and margin dropped significantly YoY
- Adjusted non-compensation expenses increased 10% YoY
- Net outflows of $3.7B in asset management despite market gains