Business
Perella Weinberg Partners Reports First Quarter 2022 Results
First Quarter 2022 Revenues of $151.9 MillionAdjusted Operating Income Margin of 14.8% for the First Quarter 2022; GAAP Operating Loss Margin of (6.8)% for
About this update from Perella Weinberg Partners
[{"type":"text","content":"First Quarter 2022 Revenues of $151.9 MillionAdjusted Operating Income Margin of 14.8% for the First Quarter 2022; GAAP Operating Loss Margin of (6.8)% for the First Quarter 2022Adjusted Net Income of $20.5 Million for the First Quarter 2022; GAAP Net Income of $1.1 Million for the First Quarter 2022Year-to-Date have Added Four Advisory Partners, with an Additional Partner Joining the Firm in the Second Quarter; Continue to Add Talent to Support Strategic Growth And Expand Coverage and ExpertiseNo Outstanding Indebtedness; Strong Balance SheetRepurchased Equivalent of Approximately 730,000 Shares, Including 559,000 Shares from Net Settlement and 172,000 Shares via Open Market Repurchase Program which Began on March 25, 2022Declared Quarterly Dividend of $0.07 Per Share NEW YORK, May 05, 2022 (GLOBE NEWSWIRE) -- Perella Weinberg Partners (the “Firm” or “PWP”) (NASDAQ:PWP) today reported financial results for the first quarter ended March 31, 2022. The Firm reported first quarter revenues of $151.9 million for the three months ended March 31, 2022, compared with $169.8 million for the three months ended March 31, 2021. GAAP net income and adjusted net income were $1.1 million and $20.5 million, respectively, for the three months ended March 31, 2022, compared with GAAP net income of $22.5 million and adjusted net income of $31.5 million for the three months ended March 31, 2021. GAAP diluted net income per Class A share and adjusted diluted if-converted net income per Class A share were $0.00 and $0.19, respectively, for the three months ended March 31, 2022. “PWP’s first quarter revenues represented our second highest first quarter revenues in the history of the firm and follow a record year in 2021. Our performance was driven by diversified revenue contribution across our industry groups, products and regions. Near term market volatility aside, our growth opportunity, our growth plan and our growth destination remain unchanged from when we were introduced to the public equity markets and we continue to execute against these initiatives. Our focus remains simple: providing trusted, expert advice to our clients, developing and attracting the best people to our firm and delivering maximum value to PWP shareholders,” stated Peter Weinberg, Chief Executive Officer. Selected Financial Data (Unaudited)(Dollars in Thousands, Except Per ...