Moelis Q3 2023 Earnings Report

Moelis & Company reported mixed Q3 2023 results, with revenue increasing but earnings decreasing year-over-year.

Key Takeaways

Moelis & Company reported a revenue increase of 19% compared to the prior year period, driven by higher fees from restructuring and capital markets transactions. However, the firm experienced a net loss of $0.16 per share. The company continues to execute its growth strategy, launching a Clean Technology Group and hiring 24 managing directors year-to-date.

GAAP revenues were $272.2 million, while adjusted revenues reached $277.7 million, a 19% increase year-over-year.

The firm reported a GAAP net loss of $0.16 per share and an adjusted net loss of $0.15 per share.

Moelis & Company launched a Clean Technology Group and hired 24 managing directors year-to-date.

The company maintains a strong balance sheet with $297.8 million in cash and short-term investments and no debt or goodwill.