Lazard Q4 2024 Earnings Report
Key Takeaways
Lazard reported net revenue of $817 million and adjusted net revenue of $812 million for the fourth quarter of 2024. Net income was $86 million, or $0.80 per share, diluted, while adjusted net income was $85 million, or $0.78 per share, diluted. The company's Financial Advisory and Asset Management segments both saw revenue increases compared to the previous year.
Firm-wide adjusted net revenue increased 18% in 2024.
Financial Advisory adjusted net revenue increased 28% in 2024.
Asset Management adjusted net revenue increased 3% in 2024.
Lazard anticipates a constructive environment for both Financial Advisory and Asset Management businesses in 2025.
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Lazard Revenue by Segment
Forward Guidance
Lazard aims to deliver an adjusted compensation ratio of 60% in 2025, with further improvements in subsequent years, while targeting a consistent deferral policy.