NASDAQ$PWP

Perella Weinberg Partners · Q2 2024 earnings

Q2 2024 earnings · · Investor relations

Briefing

Reported strong results with revenues hitting a quarterly record.

Perella Weinberg reported strong second quarter results with revenues of $272 million, up 64% from a year ago. Adjusted EPS was $0.43, while GAAP Diluted EPS was $(1.21). The firm continues to invest in talent and is encouraged by the momentum across its business.

  • Revenues of $272 Million, Up 64% From a Year Ago
  • Adjusted Pre-Tax Income of $63 Million, GAAP Pre-Tax Loss of $(81) Million
  • Adjusted EPS of $0.43; GAAP Diluted EPS of $(1.21)
  • Strong Balance Sheet with $185 Million of Cash and No Debt

Headline financials

Total Revenue

$272M

Previous: $166M+64.3%
EPS

-$1.21

Previous: $0.16-856.2%
Adjusted Pre-Tax Income

$63.4M

No prior period
Total Compensation and Benefits GAAP

$310M

No prior period
Adjusted Total Compensation and Benefits

$168M

No prior period
Non-Compensation Expense GAAP

$43.8M

No prior period
Adjusted Non-Compensation Expense

$41.2M

No prior period
GAAP Operating Income (Loss) Margin

-30.2%

No prior period
Adjusted Operating Income (Loss) Margin

23.0%

No prior period
GAAP Compensation Ratio

114.0%

Previous: 90.0%+26.7%
Adjusted Compensation Ratio

62.0%

Previous: 69.0%-10.1%
GAAP Effective Tax Rate

1.0%

Previous: 20.0%-95.0%
Adjusted If-Converted Effective Tax Rate

32.0%

Previous: 16.0%+100.0%
Capital Expenditures

-$14.7M

Previous: -$34.8M+57.7%
Free Cash Flow

-$80.8M

Previous: -$34.5M-134.3%
Net Income

-$66M

Previous: $359K-18492.2%
Operating Income

-$82.2M

Previous: -$21.8M-278.0%
Gross Profit

$0.00

Previous: $160K-100.0%
Stock-Based Comp

$90.1M

Previous: $42.6M+111.6%

Revenue & EPS history

PWP · Revenue · Quarterly

$272M

Q2 2024+64.3%vs Q2 2023
Beat estimate in 12 of 14 quarters(86%)
ActualEstimate

Forward guidance

No specific forward guidance was provided in the press release.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2024

Historical avgQ2 2024

+1.6%

Avg return

Earnings day

+1.1%

Avg return

5 days after

-0.5%

Avg return

30 days after

60%

12 / 20 earnings

Positive

+11.7%

Q2 2022

Best reaction

-17.7%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-9.1%-15.0%-24.6%
Q4 2025+8.0%+10.1%-20.1%
Q3 2025-4.6%+2.7%-1.2%
Q1 2025+2.4%-2.8%+0.7%
Q4 2024-6.8%-12.0%-22.5%
Q3 2024+6.7%+4.9%+7.2%
Q2 2024-5.7%-9.1%+6.9%
Q1 2024-2.7%-0.6%+2.7%
Q4 2023+8.9%+6.3%+13.5%
Q3 2023+6.4%+2.2%+17.7%
Q2 2023+8.5%+9.1%+5.9%
Q1 2023+10.5%+10.5%+13.3%
Q4 2022+4.5%+10.5%-11.0%
Q3 2022+5.9%+6.2%+25.7%
Q2 2022+11.7%+9.7%-4.0%
Q1 2022-17.7%-17.4%-5.6%
Q4 2021+0.6%-2.0%-16.3%
Q3 2021-2.0%+0.1%-15.6%
Q2 2021+5.6%+2.2%+6.1%
Q1 2021-0.2%+5.9%+10.8%

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