NYSE$HLI

Houlihan Lokey Inc. · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported record first quarter results driven by strong market momentum and strategic acquisitions.

Houlihan Lokey reported first quarter fiscal 2022 revenues of $373 million and diluted EPS of $1.25. The company's bull/bear, cyclically balanced model performed as expected, and they announced an acquisition agreement with GCA Corporation.

  • Revenues for the first quarter reached $373 million, compared to $211 million in the same period last year.
  • Net income for the quarter was $86 million, or $1.25 per diluted share, up from $46 million, or $0.69 per diluted share, in the prior year.
  • Adjusted net income was $82 million, or $1.19 per diluted share, compared to $38 million, or $0.56 per diluted share, for the same quarter last year.
  • The company announced a dividend of $0.43 per share for the second quarter of fiscal 2022.

Headline financials

Total Revenue

$373M

Previous: $211M+76.5%
EPS (adj)

$1.19

Previous: $0.56+112.5%
CF Closed Transactions

84

Previous: 35+140.0%
CF Managing Directors

127

No prior period
FR Closed Transactions

24

Previous: 29-17.2%
FR Managing Directors

52

No prior period
FVA Fee Events

820

Previous: 512+60.2%
FVA Managing Directors

35

No prior period
Capital Expenditures

-$1.4M

Previous: -$3.49M+59.8%
Free Cash Flow

$84.6M

Previous: $42.6M+98.5%
Net Income

$86M

Previous: $46.1M+86.5%
Operating Income

$108M

Previous: $42.6M+152.8%
Gross Profit

$133M

Previous: $66.2M+101.5%
Cash & Equivalents

$782M

Previous: $422M+85.3%
Total Assets

$2.15B

Previous: $1.7B+26.5%

Revenue & EPS history

Houlihan Lokey · Revenue · Quarterly

$373M

Q1 2022+76.5%vs Q1 2021
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Houlihan Lokey · $373M total across 3 segments · Q1 2022

  • Corporate Finance
    $210M+138.7%
  • Financial Restructuring
    $98.8M+11.5%
  • Financial & Valuation Advisory
    $64M+85.1%

Forward guidance

This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” and similar expressions that do not relate to historical matters.

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 2022

Historical avgQ1 2022

+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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