Business
Perella Weinberg Reports Full Year and Fourth Quarter 2024 Results
Financial Overview - Full Year Revenues of $878 Million, Up 35% From a Year AgoAdjusted Pre-Tax Income of $137 Million, GAAP Pre-Tax Loss of $(68)
About this update from Perella Weinberg Partners
[{"type":"text","content":"Financial Overview - Full Year Revenues of $878 Million, Up 35% From a Year AgoAdjusted Pre-Tax Income of $137 Million, GAAP Pre-Tax Loss of $(68) MillionAdjusted EPS of $0.96; GAAP Diluted EPS of $(1.22) Financial Overview - Fourth Quarter Revenues of $226 Million, Up 6% From a Year AgoAdjusted Pre-Tax Income of $40 Million, GAAP Pre-Tax Income of $28 MillionAdjusted EPS of $0.26; GAAP Diluted EPS of $0.30 Talent Investment Added Five Partners and Eleven Managing Directors in 2024 Capital Management Strong Balance Sheet with $407 Million of Cash and Short-Term Investments and No DebtRetired Approximately 14.5 Million Shares and Share Equivalents through Purchase, Exchange and Net Settlement in 2024Returned $282 Million in Aggregate to Equity Holders in 2024Declared Quarterly Dividend of $0.07 Per Share “Our record 2024 results were driven by strong momentum across our platform, with higher year-over-year revenue recorded in all service lines. Our clients place a high value on tailored, trusted advice and continue to select Perella Weinberg for their most transformative transactions. We begin 2025 with improving market conditions and remain focused on helping our clients tackle increasingly complex strategic and financial challenges,” stated Andrew Bednar, Chief Executive Officer. NEW YORK, Feb. 07, 2025 (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, 2024. Revenues For the twelve months ended December 31, 2024, revenues were $878.0 million, an increase of 35% from $648.7 million for the twelve months ended December 31, 2023. For the fourth quarter of 2024, revenues were $225.7 million, an increase of 6% from $212.7 million for the fourth quarter of 2023. The higher revenues in both current year periods were driven by larger transactions in size and number across the business. For the full year, revenues attributable to mergers and acquisition and financing and capital solutions activity were both up period-over-period. For the fourth quarter, revenues attributable to mergers and acquisition activity were lower due to a single large fee in the prior year period. Expenses Twelve Months Ended December 31, 2024 2023 GAAP Adjusted GAAP AdjustedOperating expenses (Dollars in Millions) Total compensation and benefi...