Business
Perella Weinberg Partners Reports Full Year and Fourth Quarter 2022 Results; Announces Additional $100 Million Share Repurchase Authorization
Full Year 2022 Revenues of $631.5 Million; Fourth Quarter 2022 Revenues of $183.1 MillionAdjusted Operating Income Margin of 13.8% for the Full Year 2022 and
About this update from Perella Weinberg Partners
[{"type":"text","content":"Full Year 2022 Revenues of $631.5 Million; Fourth Quarter 2022 Revenues of $183.1 MillionAdjusted Operating Income Margin of 13.8% for the Full Year 2022 and 9.2% for the Fourth Quarter 2022; GAAP Operating Loss Margin of (7.6)% for the Full Year 2022 and (10.7)% for the Fourth Quarter 2022 Adjusted Net Income of $81.6 Million for the Full Year 2022 and $12.0 Million for the Fourth Quarter 2022; GAAP Net Loss of $(31.7) Million for the Full Year 2022 and $(22.6) Million for the Fourth Quarter 2022 Adjusted EPS of $0.78 for the Full Year 2022 and $0.11 for the Fourth Quarter 2022; GAAP Diluted EPS of $(0.46) for the Full Year 2022 and $(0.28) for the Fourth Quarter 2022 Continue to Add Senior Talent to Support Strategic Growth and Expand Coverage and Expertise Added Eight Partners and Fourteen Managing Directors to our Advisory Business in 2022 Through Internal Promotions and External HiresPromoted Two Managing Directors to Advisory Partners Effective January 1, 2023 No Outstanding Indebtedness; Strong Balance Sheet with $311.7 Million of Cash, Cash Equivalents, and Short-Term InvestmentsReturned $104 Million Dollars to Shareholders During 2022 Through Repurchases and DividendsRepurchased 10,589,863 Shares and Share Equivalents in 2022, Additional Repurchase Authorization of $100 Million Increases Capacity to Repurchase Shares from Approximately $25 Million of Unused Capacity under Firm’s Previously Approved PlanDeclared Quarterly Dividend of $0.07 Per Share NEW YORK, Feb. 09, 2023 (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, 2022. The Firm reported revenues of $631.5 million for the year ended December 31, 2022, compared with $801.7 million for the year ended December 31, 2021, a record year for the firm. GAAP net loss and adjusted net income were $(31.7) million and $81.6 million, respectively, for the year ended December 31, 2022, compared with GAAP net income of $4.0 million and adjusted net income of $160.5 million for the year ended December 31, 2021. GAAP diluted net loss per Class A share (also referred to as “GAAP Diluted EPS”) and adjusted diluted if-converted net income per Class A share (also referred to as “Adjusted EPS”) were $(0.46) and $0.78, respectively, for the year ended December 31, 202...