PJT Partners Inc. (PJT) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to the PJT Partners' third quarter and nine-month 2025 Earnings Conference Call. Joining the Earnings Conference Call today is Paul Taubman, Chairman and Chief Executive Officer, Helen Yates, Chief Financial Officer. During the course of this conference call, management may make a number of forward-looking statements. These forward-looking statements are subject to various risks and uncertainties. and there are important factors that could cause actual outcomes to differ materially from those indicated in these statements. These factors are described in the Risk Factors section contained in PJT Partners 2024 Form 10-K, which is available on PJT Partners' website at pjtpartners.com. The company assumes no duty to update any forward-looking statements. The presentation made today contains non-GAAP financial measures, which the company believes are meaningful in evaluating the company's performance. For detailed disclosures on these non-GAAP metrics and their GAAP reconciliations, please refer to the financial data contained within the press release the firm issued this morning, also available on the firm's website. With that, I'll turn the call over to Paul Taupman. Good morning. Thank you all for joining us today. This morning we reported record results. Revenue adjusted pre-tax income and adjusted EPS all reaching record highs for both the three and nine month periods. Third quarter revenue was $447 million, up 37%. Adjusted pre-tax income was $94 million, up 86%. and adjusted EPS was $1.85, up 99 percent from year-ago levels. For the nine months, revenues increased 16 percent to $1.18 billion, adjusted pre-tax income increased 34 percent, and adjusted EPS increased 43 percent from year-ago levels. Since our last earnings call, We have seen furt...