Moelis Q2 2024 Earnings Report

Moelis & Company's financial performance improved significantly, driven by increased transaction completions across all key products.

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.

Previous year: -$0.04

-550.0%