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Jun 30, 2024
PJT Q2 2024 Earnings Report
PJT Partners reported record revenues and increased income for the second quarter of 2024.
Key Takeaways
PJT Partners Inc. announced record second quarter revenues of $360 million, a 4% increase year-over-year. GAAP diluted EPS was $1.06 and Adjusted EPS was $1.19, representing increases of 23% and 20%, respectively. The company repurchased 0.7 million share equivalents during the quarter and held $351 million in cash, cash equivalents and short-term investments with no funded debt.
Record quarterly revenues of $360 million, up 4% year-over-year.
GAAP Pretax Income of $64 million and Adjusted Pretax Income of $66 million, both increased 19% year-over-year.
GAAP Diluted EPS of $1.06 and Adjusted EPS of $1.19, increases of 23% and 20%, respectively, year-over-year.
Repurchased 0.7 million share equivalents during the second quarter 2024.
Revenue by Segment
Forward Guidance
PJT Partners remains highly confident in its future growth prospects, focusing on investing to build the strongest firm for the long term by expanding industry expertise, product capabilities, and global reach.
Positive Outlook
- Continued investment in building the strongest firm for the long term.
- Expansion of industry expertise.
- Expansion of product capabilities.
- Expansion of global reach.
- Confidence in future growth prospects.
Challenges Ahead
- Changes in governmental regulations and policies.
- Cyber attacks and security vulnerabilities.
- Failures of computer or communication systems.
- Impact of catastrophic events on the U.S. and global economy.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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