Business
Perella Weinberg Partners Reports Full Year and Fourth Quarter 2021 Results; Announces Share Repurchase Authorization
Record Full Year 2021 Revenues of $801.7 million, Up 54% from the Same Period of 2020; Fourth Quarter 2021 Revenues of $198.9 million, Up 5% from the Same
About this update from Perella Weinberg Partners
[{"type":"text","content":"Record Full Year 2021 Revenues of $801.7 million, Up 54% from the Same Period of 2020; Fourth Quarter 2021 Revenues of $198.9 million, Up 5% from the Same Period of 2020 GAAP Operating Income (Loss) Margin of 8.3% for the Full Year 2021 and (0.3%) for the Fourth Quarter 2021; Adjusted Operating Income Margin of 21.8% for the Full Year 2021 and 22.6% for the Fourth Quarter 2021 GAAP Net Income (Loss) of $4.0 Million for the Full Year 2021 and $(18.0) Million for the Fourth Quarter 2021; Adjusted Net Income of $160.5 Million for the Full Year 2021 and $38.4 Million for the Fourth Quarter 2021 Continue to Expand Coverage and Expertise from a Sector, Product, and Geography Standpoint to Support Strategic Growth Added Ten Partners in 2021 Through Internal Promotions and External HiresPromoted Three Managing Directors to Advisory Partners Effective January 1, 2022 and an Additional Partner Joined the Firm Early in 2022Encouraged by Strong Pipeline of Internal and External Senior Level Talent No Outstanding Indebtedness; Maintains Strong Balance SheetAnnounced Repurchase Authorization of $100 MillionDeclared Quarterly Dividend of $0.07 Per Share NEW YORK, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Perella Weinberg Partners (the “Firm” or “PWP”) (NASDAQ:PWP) today reported financial results for the full year and fourth quarter ended December 31, 2021. The firm reported record revenues of $801.7 million for the year ended December 31, 2021, compared with $519.0 million for the year ended 2020. GAAP net income and adjusted net income were $4.0 million and $160.5 million for the year ended December 31, 2021, respectively, compared with GAAP net loss and adjusted net income of $(24.3) million and $34.6 million for the year ended December 31, 2020. GAAP diluted earnings (loss) per Class A share was $(0.66) for the year ended December 31, 2021. All net income prior to the closing of the business combination with FinTech Acquisition Corp. IV on June 24, 2021 (the “Business Combination”) is allocated to GAAP net income attributable to non-controlling interests and excluded from the earnings per share calculation. Adjusted net income per share has not been presented for the year ended December 31, 2021 as it is not meaningful or comparative to GAAP diluted earnings per share, as it excludes activity prior to the Business Combination on June 24, 2021. The...