PJT Partners Q2 revenue rises 49% to $346 million; first-half EPS falls 12%
PJT Partners reported second-quarter 2023 revenue of $346 million, up 49% from a year earlier, and GAAP diluted EPS of $0.86 versus $0.74. For the first six months, revenue rose 14% to $546 million, but GAAP diluted EPS fell 12% to $1.53, as compensation and non-compensation expenses increased. The Board declared a $0.25 quarterly dividend, and the company held $226 million in cash with no funded debt as of June 30, 2023.
- Q2 2023 revenue of $346 million, up 49%; Advisory revenue of $324 million, up 73%, principally due to higher restructuring revenues
- Q2 GAAP diluted EPS of $0.86 versus $0.74; Adjusted EPS of $0.99 versus $0.88 in the prior year
- Six months GAAP diluted EPS of $1.53, down 12%; Adjusted EPS of $1.52, down 19%
- Quarterly dividend of $0.25 per Class A share, payable September 20, 2023 to holders of record as of September 6, 2023