Business
Perella Weinberg Reports First Quarter 2025 Results
Financial Overview Revenues of $212 Million, Up 107% From a Year AgoAdjusted Pre-Tax Income of $21 Million, GAAP Pre-Tax Income of $12 MillionAdjusted EPS of
About this update from Perella Weinberg Partners
[{"type":"text","content":"Financial Overview Revenues of $212 Million, Up 107% From a Year AgoAdjusted Pre-Tax Income of $21 Million, GAAP Pre-Tax Income of $12 MillionAdjusted EPS of $0.28; GAAP Diluted EPS of $0.24 Talent Investment Year-to-Date Added Four Managing DirectorsTwo Additional Partners and Two Additional Managing Directors to Join Firm in Coming Months Capital Management Strong Balance Sheet with $111 Million of Cash and No DebtRetired More Than Five Million Shares and Share Equivalents through Purchase, Exchange and Net SettlementReturned $121 Million in Aggregate to Equity HoldersDeclared Quarterly Dividend of $0.07 Per Share “Our first quarter revenues represented our highest Q1 on record and demonstrate the strength of our brand across industries and geographies. During this period of market volatility and against a rapidly changing geopolitical backdrop, we continue to help our clients achieve their strategic and financial objectives and invest in talent in attractive industry sectors to accelerate growth for our shareholders,” stated Andrew Bednar, Chief Executive Officer. NEW YORK, May 02, 2025 (GLOBE NEWSWIRE) -- Perella Weinberg Partners (the “Firm” or “PWP”) (NASDAQ:PWP) today reported financial results for the first quarter ended March 31, 2025. Revenues For the first quarter of 2025, revenues were $211.8 million, an increase of 107% from $102.1 million for the first quarter of 2024. Revenues were higher across product lines, sectors, and geographies, the result of larger transactions and related fee events compared to the prior year period. Expenses Three Months Ended March 31, 2025 2024 GAAP Adjusted GAAP AdjustedOperating expenses (Dollars in Millions)Total compensation and benefits $149.2 $141.9 $115.4 $86.1 % of Revenues 70% 67% 113% 84%Non-compensation expenses $50.9 $49.3 $40.3 $37.0 % of Revenues 24% 23% 39% 36% GAAP total compensation and benefits were $149.2 million for the first quarter of 2025, compared to $115.4 million for the first quarter of 2024. Adjusted total compensation and benefits were $141.9 million for the first quarter of 2025, compared to $86.1 million for the same period a year ago. The increase in total compensation and benefits was due to a larger bonus accrual on an absolute dollar basis associated with higher revenues, partially offset by a lower compensation margin. On a GAAP basis, the increase w...