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PJT Partners Inc. reports recurring developments for an advisory-focused investment bank whose services include strategic advisory, capital markets advisory, restructuring and special situations, shareholder advisory, and private fund advisory and fundraising. Company updates commonly cover operating results, advisory and placement revenue trends, earnings releases and conference calls, and presentations at financial services conferences.
Its business serves corporations, financial sponsors, institutional investors and governments, with revenue generated primarily from advisory fees and placement services. Governance-related updates include board and committee appointments, while financial releases discuss activity in strategic advisory, restructuring, fund placement and corporate placement businesses.
PJT Partners Inc. (NYSE: PJT) has announced an agreement to acquire deNovo Partners, a leading advisory firm focused on the Middle East and headquartered in Dubai. This acquisition builds upon their successful strategic alliance established in 2020. deNovo, founded in 2010 by May Nasrallah, has a team of over 20 professionals and has advised on more than 100 transactions, including the region's two largest private sector M&A deals this year.
The acquisition aims to strengthen PJT's presence in the Middle East and enhance its ability to serve both regional and international clients. May Nasrallah will continue her leadership role in the Middle East while joining PJT Partners' senior team. The transaction is expected to close in October 2024, subject to regulatory approvals and customary conditions.
PJT Partners Inc. (NYSE: PJT) reported record second quarter and six months results for 2024. Highlights include:
- Q2 revenues of $360 million, up 4% year-over-year
- Q2 GAAP Pretax Income of $64 million, up 19%
- Q2 Adjusted EPS of $1.19, up 20%
- H1 revenues of $690 million, up 26% year-over-year
- H1 GAAP Pretax Income of $118 million, up 42%
- H1 Adjusted EPS of $2.17, up 43%
The company repurchased 2.2 million shares and equivalents through June 30, 2024. It held $351 million in cash and short-term investments with no funded debt. PJT Partners also entered a new $100 million revolving credit facility on July 29, 2024.
PJT Partners Inc. (NYSE:PJT) has announced its plans to release second quarter and first half 2024 financial results on Tuesday, July 30, 2024. The company will host a conference call at 8:30 a.m. ET on the same day to discuss the results. Paul J. Taubman, Chairman and CEO, and Helen T. Meates, CFO, will lead the call and be available for questions.
Investors and analysts can participate by dialing +1 (800) 343-5419 (U.S. domestic) or +1 (203) 518‑9731 (international) with the passcode PJTP2Q24. A listen-only audio webcast will also be available through the company's Investor Relations website. A replay of the webcast will be accessible for four months starting at approximately 11:30 a.m. ET on July 30, 2024.
PJT Partners Inc. reported record first-quarter results for 2024, including a 65% revenue increase to $329 million, GAAP pretax income of $54 million, and adjusted pretax income of $55 million. The company also achieved an 82% increase in GAAP diluted EPS to $1.22 and an 81% increase in adjusted EPS to $0.98 from a year ago. Additionally, PJT repurchased 1.5 million share equivalents, held $236 million in cash, cash equivalents, and short-term investments with no funded debt, and declared a $0.25 per share dividend. The company plans to repurchase more shares and remains confident in its future growth prospects.
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