Houlihan Lokey, Inc. - HLI STOCK NEWS

Houlihan Lokey reported third quarter fiscal 2023 revenues of $456 million, down from $889 million in Q3 2022. Diluted EPS for the quarter was $0.90, a sharp decline from $2.54 in the previous year. Adjusted EPS stood at $1.14, compared to $2.90 for Q3 2022. The company attributed the revenue drop to fewer closed transactions, particularly in Corporate Finance, which saw a 59% decrease. Despite these challenges, Houlihan Lokey maintained its position as a leading M&A advisor globally. A quarterly dividend of $0.53 per share was announced for Q4 2023. Financial highlights also included a provision for income taxes of $20.56 million.

Houlihan Lokey, Inc. (NYSE:HLI) will announce its third quarter results for the fiscal year 2023 on January 31, 2023, post market close. A conference call will follow at 5:00 p.m. (ET), led by CEO Scott Beiser and CFO Lindsey Alley, to discuss the financial performance and include a Q&A session for analysts and investors. Interested parties can join the call via telephone or audio webcast on the company's website. A playback of the call will be available from 8:00 p.m. (ET) on the same day until February 7, 2023.

Houlihan Lokey (NYSE:HLI) has announced its acquisition of Oakley Advisory, enhancing its strategic presence in the digital infrastructure, communications, and cloud sectors in Europe. With over 150 completed transactions valued at more than £35 billion, Oakley brings extensive expertise and a strong client network. The acquisition includes the addition of Chris Godsmark and Christian Maher as Managing Directors, expanding Houlihan's Digital Infrastructure team to over 40 professionals. The deal is set to be completed next quarter, pending regulatory approvals.

Houlihan Lokey (NYSE:HLI) has appointed Matthew Hudson and Spencer Lippman as Managing Directors in its Business Services Group, enhancing its focus on the equipment-as-a-service sector. Hudson will lead a new investment banking office in Baltimore, while Lippman will operate from the Houston office. Both executives come with significant experience from Oppenheimer & Co. and will contribute to the firm's strategic expansion in advisory services, continuing Houlihan Lokey's reputation as a top global investment bank.

Zukin Certification Services (ZCS) has partnered with specialty insurer Banyan Risk to provide discounted Directors’ and Officers’ (D&O) insurance alongside a subsidized Zukin Reasonable Basis Review (ZBR™). This review service offers SPACs an independent assessment of target company financial projections, thus helping mitigate transaction risks. Banyan aims to support SPAC clients in navigating challenging market conditions by offering these essential services at reduced rates, potentially transforming SPAC perceptions in the marketplace.

Houlihan Lokey reported second quarter fiscal 2023 revenues of $490 million, down from $537 million in the same period last year. Diluted EPS was $0.87, compared to $1.65 a year prior, while adjusted diluted EPS reached $1.19, down from $1.71. The company declared a third-quarter dividend of $0.53 per share, payable on December 15, 2022. Revenues from Corporate Finance decreased by 19%, while Financial Restructuring and Financial and Valuation Advisory revenues increased by 17% each. The firm maintains a strong cash position with $540 million available.

Houlihan Lokey (NYSE:HLI) has appointed Andy Cairns as a Managing Director to lead its Capital Markets efforts in the Middle East and Africa, based in Dubai. Cairns brings a wealth of experience with over $750 billion in M&A, loans, and equity. He previously served as Senior Managing Director at First Abu Dhabi Bank. The firm aims to enhance capital solutions for regional clients while expanding access to Middle Eastern capital globally. The Capital Markets Group raised over $15 billion for clients in fiscal 2021.

Houlihan Lokey (NYSE:HLI) has announced the addition of Rainer Hepberger as a Managing Director in its European Healthcare team, based in London. Hepberger brings over 15 years of experience, including nine years at William Blair. He has advised on over 50 M&A transactions across Europe, enhancing the firm’s capabilities in medical technology and healthcare distribution. His appointment strengthens Houlihan Lokey’s position as a leading healthcare advisory firm in Europe, with the healthcare team now comprising 20 professionals.

Northmarq has completed its acquisition of Stan Johnson Company (SJC) and Four Pillars Capital Markets (FPCM), expanding its presence in the commercial real estate sector. This strategic move adds nearly 1,000 professionals to Northmarq's team and includes services across various property types, enhancing their annual transaction volumes to $23 billion in debt/equity and $15 billion in investment sales. SJC, recognized as a leading net lease investment sales brand, has recorded significant growth, with a 600% revenue increase since 2005.