Business
Perella Weinberg Partners Reports First Quarter 2021 Results
Record First Quarter 2021 Revenues of $170 Million, Up 84% from Q1 2020 First Quarter 2021 GAAP Operating Income Margin of 16.5% vs (3.9%) in Q1 2020 and
About this update from Perella Weinberg Partners
[{"type":"text","content":"\n\nRecord First Quarter 2021 Revenues of $170 Million, Up 84% from Q1 2020\n\n\nFirst Quarter 2021 GAAP Operating Income Margin of 16.5% vs (3.9%) in Q1 2020 and Adjusted Operating Income Margin of 21.2% vs. 4.6% in Q1 2020\n\n\nFirst Quarter 2021 GAAP Net Income of $23 Million, Up $27 million from Q1 2020, and Adjusted Net Income of $32 Million, Up 566% from Q1 2020\n\n\nAdded Six Advisory Partners, enhancing our client coverage footprint in Europe and the United States\n\n\nBusiness Combination with FinTech Acquisition Corp. IV (“FTIV”) Expected to Close in Second Quarter 2021\n\n\n NEW YORK--(BUSINESS WIRE)--\nPerella Weinberg Partners (“PWP”), a leading global independent advisory firm, today reported financial results for the quarter ended March 31, 2021. The firm reported revenues of $169.8 million for the three months ended March 31, 2021, compared with $92.4 million for the three months ended March 31, 2020. GAAP net income and adjusted net income were $22.5 million and $31.5 million, respectively, for the three months ended March 31, 2021, compared with GAAP net loss of ($4.1) million and adjusted net income of $4.7 million, for the three months ended March 31, 2020.(1)\n\n“We were pleased to see advisory activity continue to accelerate in the first quarter of 2021. We believe we benefited from an overall rise in advisory activity, rising demand for independent advice and PWP’s strengthening brand in the marketplace. During the quarter, we saw robust activity across our industries and geographies of focus and in all of our advisory products. As we continue along our path towards becoming a public company, our team is focused on growing our coverage footprint and deepening our client relationship to drive sustainable growth and deliver long-term shareholder value,” stated Peter Weinberg, Chief Executive Officer. \n\n\n\n(1) Throughout this release, adjusted figures represent non-GAAP information. See “Non-GAAP Financial Measures” and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable GAAP numbers.\n\n\n\n\n\n\nSelected Financial Data (Unaudited)\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nU.S. GAAP\n\n\n \n\nAdjusted (Non-GAAP)\n\n\n\n\n\n \n\n\n \n\nThree Months Ended March 31,\n\n\n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n...