PJT Partners Inc. Reports First Quarter 2021 Results

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PJT Partners (NYSE: PJT) reported Q1 2021 total revenues of $206.7 million, up from $200.2 million in Q1 2020. GAAP net income reached $43.8 million compared to $32.0 million last year. Adjusted net income stood at $38.5 million, an increase from $29.1 million. GAAP diluted EPS was $1.03, up from $0.72; adjusted EPS rose to $0.89 from $0.71. CEO Paul J. Taubman attributed the growth to a balanced business model despite a muted restructuring environment.

Positive

Total revenues increased by $6.5 million year-over-year.
GAAP net income rose by $11.8 million compared to the prior year.
Adjusted net income improved by $9.4 million year-over-year.
GAAP diluted EPS increased by $0.31 compared to the prior year.
Adjusted EPS saw a growth of $0.18 year-over-year.

Negative

None.

04/27/2021 - 06:50 AM

PJT Partners Inc. (the “Company” or “PJT Partners”) (NYSE: PJT) today reported Total Revenues of $206.7 million for first quarter 2021 compared with $200.2 million for the prior year quarter. GAAP Net Income and Adjusted Net Income, If-Converted were $43.8 million and $38.5 million, respectively, for the current quarter compared with $32.0 million and $29.1 million, respectively, for the prior year quarter. GAAP Diluted EPS and Adjusted EPS were $1.03 and $0.89, respectively, for the current quarter compared with $0.72 and $0.71, respectively, for the prior year quarter.

Paul J. Taubman, Chairman and Chief Executive Officer, said, “Our balanced business model generated strong revenues and delivered meaningful growth in pretax income and earnings per share against the backdrop of a muted restructuring environment. Given the strength of our complementary businesses, we remain confident in our future growth prospects regardless of market environment.”

Revenues

The following table sets forth revenues for the three months ended March 31, 2021 and 2020:

Three Months Ended March 31,

2021

2020

% Change

(Dollars in Millions)

Revenues

Advisory

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