Moelis Q1 2020 Earnings Report
Key Takeaways
Moelis & Company reported first quarter revenues of $153.7 million, a 12% increase from the first quarter of 2019. GAAP net income was $30.1 million, or $0.44 per share (diluted), compared to $16.2 million, or $0.25 per share (diluted) in the prior year period. The firm's strong balance sheet includes cash and short term investments of $145.4 million with no debt or goodwill.
First quarter revenues increased by 12% to $153.7 million compared to the first quarter of 2019.
GAAP net income increased to $0.44 per share (diluted) for the first quarter of 2020.
The company continued to execute on its organic growth strategy by adding four Managing Directors in the U.S.
The company maintains a strong balance sheet with $145.4 million in cash and no debt or goodwill.
Moelis
Moelis
Forward Guidance
Moelis & Company expects COVID-19 to continue to have a significant and adverse effect on our business, revenues and operating results in the short term.