Perella Weinberg Partners (PWP) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Perella-Weinberg full year and fourth quarter 2025 earnings conference call. Currently, all callers have been placed in a listen-only mode. And following management's prepared remarks, the call will be open for your questions. If you would like to ask a question at that time, Chief Financial Officer. Before we begin, I'd like to note that this call may contain forward-looking statements, including Parola Weinberg's expectations of future financial and business performance and conditions and industry outlook. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those discussed in the forward-looking statements and are not guaranteed of future events or performance. Please refer to Perrella Weinberg's most recent SEC filings for discussion of certain of these risks and uncertainties. The forward-looking statements are based on our current beliefs and expectations, and the firm undertakes no obligation to update any forward-looking statements. During the call, there will also be a discussion of some metrics, which are non-GAAP financial measures, which management believes are relevant in assessing the financial performance of the business. Perrella Weinberg has reconciled these items to the most comparable gap measures in the press release filed with today's Form 8K, which can be found on the company's website. I will now turn the call over to Andrew Bednar to discuss our results. Thank you, Taylor, and good morning. Today we reported full year 2025 revenues of $751 million and fourth quarter revenues of $219 million. While 2025 revenues were down 14% from 2024's record results, 2025 was the third highest revenue year in our firm's 20-year hist...