NYSE$HLI

Houlihan Lokey Inc. · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Houlihan Lokey's revenues decreased while net income increased due to the COVID-19 pandemic

Houlihan Lokey reported a decrease in revenues to $211 million compared to $250 million in the same quarter last year. However, net income increased to $46 million, or $0.69 per diluted share, compared to $43 million, or $0.65 per diluted share, for the same quarter last year. The decrease in revenues was mainly due to decreased Corporate Finance revenues, partially offset by increased Financial Restructuring revenues.

  • First quarter fiscal 2021 revenues were $211 million.
  • First quarter fiscal 2021 diluted EPS was $0.69.
  • Adjusted first quarter fiscal 2021 diluted EPS was $0.56.
  • Dividend increased to $0.33 per share for second quarter fiscal 2021.

Headline financials

Total Revenue

$211M

Previous: $250M-15.7%
EPS (adj)

$0.56

Previous: $0.67-16.4%
CF Closed Transactions

35

Previous: 61-42.6%
FR Closed Transactions

29

Previous: 25+16.0%
FVA Fee Events

512

Previous: 509+0.6%
Capital Expenditures

-$3.49M

Previous: -$7.44M+53.0%
Free Cash Flow

$42.6M

Previous: $35.3M+20.6%
Net Income

$46.1M

Previous: $42.8M+7.8%
Operating Income

$42.6M

Previous: $47.9M-11.2%
Gross Profit

$66.2M

Previous: $69.7M-5.0%
Cash & Equivalents

$422M

Previous: $212M+99.4%
Total Assets

$1.7B

Previous: $1.39B+22.0%

Revenue & EPS history

Houlihan Lokey · Revenue · Quarterly

$211M

Q1 2021-15.7%vs Q1 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Houlihan Lokey · $211M total across 3 segments · Q1 2021

  • Financial Restructuring
    $88.6M+11.7%
  • Corporate Finance
    $88M-34.1%
  • Financial & Valuation Advisory
    $34.5M-7.6%

Forward guidance

The COVID-19 pandemic is expected to continue to have an adverse effect on the business, revenues, and operating results in the short term. However, the company continues to see an increase in the demand for services in its FR business.

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 Q1 2021

Historical avgQ1 2021

+1.2%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+1.5%

Avg return

30 days after

63%

30 / 48 earnings

Positive

+12.2%

Q2 2022

Best reaction

-10.7%

Q2 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026+4.3%+1.5%-5.6%
Q3 2026-6.6%-0.7%-3.0%
Q2 2026-10.7%-10.0%-12.0%
Q4 2025+6.8%+8.7%+7.9%
Q3 2025-2.3%-1.9%-5.8%
Q2 2025+3.6%+2.2%+13.4%
Q1 2025+1.7%-1.5%+4.5%
Q4 2024+0.3%+1.3%-2.7%
Q3 2024+5.9%+3.7%+6.2%
Q2 2024+1.5%+3.7%+9.4%
Q1 2024-8.3%-7.2%-5.5%
Q4 2023+6.1%+1.6%+7.1%
Q3 2023-0.2%+3.2%-2.9%
Q2 2023+9.3%+10.8%+21.5%
Q1 2023+2.5%+1.7%-3.0%
Q4 2022+2.9%+6.3%-2.5%
Q3 2022+7.4%+3.2%-7.8%
Q2 2022+12.2%+17.8%+11.9%
Q1 2022-5.1%-3.5%+1.0%
Q4 2021+5.3%+10.7%+18.1%
Q3 2021-3.7%-1.2%-5.6%
Q2 2021-0.4%-1.6%+3.3%
Q1 2021-1.6%-2.2%+6.1%
Q4 2020-2.1%-0.4%-8.4%
Q3 2020+7.4%+8.6%+2.0%
Q2 2020-0.4%+1.0%+2.0%
Q1 2020+6.2%+4.1%-3.4%
Q4 2019+1.9%-1.9%-4.2%
Q3 2019+1.9%+1.0%+5.0%
Q2 2019+0.5%+5.4%+4.6%
Q1 2019-6.6%-6.5%-10.0%
Q4 2018+5.3%+4.1%+7.6%
Q3 2018-2.8%-7.8%-9.5%
Q2 2018+4.5%+0.5%+6.0%
Q1 2018+5.1%+1.1%-2.0%
Q4 2017+6.3%+1.9%-1.0%
Q3 2017+5.1%+4.7%+3.5%
Q2 2017-2.8%-3.7%+19.5%
Q1 2016-0.5%+0.7%-4.4%
Q1 2017+2.3%+7.9%+4.9%
Q4 2014-2.4%-5.9%-2.3%
Q4 2016+0.1%
Q3 2015-1.1%
Q3 2016+0.4%
Q1 2015+0.5%
Q2 2015+0.5%
Q4 2015+0.5%
Q2 2016-0.8%

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