Business
Perella Weinberg Partners Reports Third Quarter 2021 Results
Third Quarter 2021 Revenues of $177.4 Million, Up 44% from the Same Period of 2020; Nine Months Ended September 30, 2021 Revenues of $602.7 Million, Up 83%
About this update from Perella Weinberg Partners
[{"type":"text","content":"Third Quarter 2021 Revenues of $177.4 Million, Up 44% from the Same Period of 2020; Nine Months Ended September 30, 2021 Revenues of $602.7 Million, Up 83% from the Same Period of 2020GAAP Operating Income (Loss) Margin of (5.8%) for the Third Quarter 2021 and 11.1% for the Nine Months Ended September 30, 2021; Adjusted Operating Income Margin of 17.3% for the Third Quarter 2021 and 21.5% for the Nine Months Ended September 30, 2021 GAAP Net Income (Loss) of ($9.5) Million for the Third Quarter and $22.0 Million for the Nine Months Ended September 30, 2021; Adjusted Net Income (Loss) of $28.9 Million for the Third Quarter 2021 and $122.2 Million for the Nine Months Ended September 30, 2021Year-to-Date have Added Nine Advisory Partners, with an Additional Partner Joining the Firm Prior to Year End 2021, Further Expanding Coverage and Expertise from a Sector, Product, and Geography Standpoint and Supporting Strategic Growth No Outstanding Indebtedness; Maintains Strong Balance SheetDeclared Quarterly Dividend of $0.07 Per Share NEW YORK, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Perella Weinberg Partners (the “Firm” or “PWP”) (NASDAQ:PWP) today reported financial results for the third quarter ended September 30, 2021. The Firm reported third quarter revenues of $177.4 million for the three months ended September 30, 2021, a third quarter record for the firm, compared with $122.8 million for the three months ended September 30, 2020. GAAP net loss and adjusted net income were ($9.5) million and $28.9 million, respectively, for the three months ended September 30, 2021, compared with GAAP net loss of ($1.1) million and adjusted net income of $7.7 million for the three months ended September 30, 2020. GAAP diluted net income (loss) per Class A share and adjusted diluted if-converted net income per Class A share were $(0.09) and $0.26, respectively, for the three months ended September 30, 2021. For the nine months ended September 30, 2021, revenues were $602.7 million for the respective period, compared with $329.8 million for the nine months ended 2020. GAAP net income and adjusted net income were $22.0 million and $122.2 million for the nine months ended September 30, 2021, respectively, compared with GAAP net loss and adjusted net income of ($27.3) million and $13.9 million for the nine months ended September 30, 2020, respectively. GAAP ...