Business
Perella Weinberg Partners Reports Second Quarter 2021 Results
Second Quarter 2021 Revenues of $255.5 Million, Up 123% from the Same Period of 2020; First Half 2021 Revenues of $425.3 Million, Up 105% from the Same Period
About this update from Perella Weinberg Partners
[{"type":"text","content":"Second Quarter 2021 Revenues of $255.5 Million, Up 123% from the Same Period of 2020; First Half 2021 Revenues of $425.3 Million, Up 105% from the Same Period of 2020GAAP Operating Income Margin of 19.4% for the Second Quarter 2021 and 18.2% for the First Half 2021; Adjusted Operating Income Margin of 24.5% for the Second Quarter 2021 and 23.2% for the First Half 2021GAAP Net Income of $9.0 Million for the Second Quarter and $31.5 Million for the First Half 2021; Adjusted Net Income of $61.7 Million for the Second Quarter 2021 and $93.2 Million for the First Half 2021Year-to-Date have Added Three Partners from Internal Promotions and Another Six have Joined or Agreed to Join the Firm in 2021, Further Strengthening Client Coverage Across Industries and GeographiesClosed Business Combination with FinTech Acquisition Corp. IV (“FTIV”) on June 24, 2021 (the “Business Combination”)As of August 12, 2021, Firm Listing Upgraded to NASDAQ Global Select Market TierFirm Exercised Contractual Repurchase Right of 1 Million Shares of Class A Common Stock Owned by FTIV’s Sponsor at $12 Per ShareNo Outstanding Indebtedness; Maintains Strong Balance SheetDeclared Quarterly Dividend of $0.07 Per Share NEW YORK, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Perella Weinberg Partners (the “Firm” or “PWP”) (NASDAQ:PWP) today reported financial results for the second quarter ended June 30, 2021. The Firm reported record quarterly revenues of $255.5 million for the three months ended June 30, 2021, compared with $114.6 million for the three months ended June 30, 2020. GAAP net income and adjusted net income were $9.0 million and $61.7 million, respectively, for the three months ended June 30, 2021, compared with GAAP net loss of ($22.1) million and adjusted net income of $1.5 million for the three months ended June 30, 2020. GAAP diluted earnings per Class A share was ($0.32) for the three months ended June 30, 2021. First half 2021 revenues were a record $425.3 million, compared with $207.0 million for the first half of 2020. GAAP net income and adjusted net income were $31.5 million and $93.2 million for the six months ended June 30, 2021, respectively, compared with GAAP net loss of ($26.2) million and adjusted net income of $6.2 million for the six months ended June 30, 2020, respectively. GAAP diluted earnings per Class A share was ($0.32) for the six months...