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Sep 30, 2020
Moelis Q3 2020 Earnings Report
Moelis & Company's financial performance declined due to fewer M&A transaction completions and reported a decrease in revenues and net income compared to the prior year period.
Key Takeaways
Moelis & Company reported a 10% decrease in third quarter revenues to $207.6 million compared to a record third quarter in 2019. GAAP net income was $0.54 per share (diluted), compared to $0.73 per share (diluted) in the prior year period. The firm declared a quarterly dividend of $0.3825 per share, a 50% increase from the second quarter of 2020.
Third quarter revenues decreased by 10% to $207.6 million compared to the prior year period.
GAAP net income was $0.54 per share (diluted) for the third quarter.
The firm experienced the strongest quarter of Restructuring related activity in its history.
A quarterly dividend of $0.3825 per share was declared, representing a 50% increase from the second quarter of 2020.
Forward Guidance
Moelis & Company's platform was built to be durable and flexible across differing economic landscapes.
Positive Outlook
- The pace of transaction announcements and momentum in the business has only intensified since then.
- Achieved the strongest quarter of Restructuring related activity in our Firm’s history during the third quarter.
- Ongoing mandates continue to remain elevated.
- Necessary ingredients for M&A, Restructuring and Capital Markets to all be active at the same time are present.
- Tremendous confidence about the Firm’s growth prospects.
Challenges Ahead
- Revenues and net income can fluctuate materially depending on the number, size and timing of completed transactions.
- Financial results in any particular quarter may not be representative of future results over a longer period of time.
- Business, revenues, and operating results have been, and could continue to be adversely affected by COVID-19.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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