Moelis Q2 2024 Earnings Report
Key Takeaways
Moelis & Company reported second quarter GAAP revenues of $264.6 million, a 45% increase compared to the prior year period. GAAP net income was $14.9 million, or $0.17 per share (diluted), compared to a net loss in the prior year period. The increase in revenue is attributed to higher transaction completions across all key products.
Second quarter GAAP revenues reached $264.6 million, up 45% year-over-year.
Adjusted revenues also stood at $264.6 million, reflecting the same growth rate of 45%.
GAAP net income was reported at $0.17 per share (diluted) for the quarter.
The company maintained a strong balance sheet with $191.3 million in cash and short-term investments and no debt or goodwill.
Moelis
Moelis
Forward Guidance
Moelis & Company remains focused on serving clients and executing its growth strategy as the transaction environment improves.