Lazard Q1 revenue rises 17% to $757 million; adjusted EPS falls 25% to $0.42
Lazard reported first-quarter 2026 U.S. GAAP net revenue of $757 million, up 17% from a year earlier, and GAAP diluted EPS of $0.91, up from $0.56. On an adjusted basis, net revenue rose 5% to $673 million, but adjusted diluted EPS fell 25% to $0.42, with Financial Advisory revenue down and Asset Management revenue up. Shareholders also get a quarterly dividend of $0.50 per share and an announced agreement to acquire Campbell Lutyens, expected to close in the second half of 2026.
Key points
- GAAP net income was $101 million, or $0.91 per diluted share, versus $60 million, or $0.56, a year earlier; the filing cites a non-cash gain on the Edgewater management vehicles sale within GAAP net revenue.
- Adjusted net income was $47 million, or $0.42 per diluted share, down from $60 million, or $0.56, a year earlier.
- Financial Advisory net revenue was $360 million, down 2% year-over-year; Asset Management net revenue was $410 million, up 42%.
- Board declared a $0.50 quarterly dividend, payable May 22, 2026, to holders of record on May 11, 2026.
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.