NYSE$HLI
Houlihan Lokey Inc. · Q2 2025 earnings
Q2 2025 earnings · · Investor relations
Briefing
Houlihan Lokey's financial performance improved in Q2 2025, marked by revenue growth and increased EPS.
Houlihan Lokey reported a strong second quarter in fiscal year 2025, with revenues reaching $575 million compared to $467 million in the same quarter of the previous year. The company's diluted EPS increased to $1.37, and adjusted diluted EPS was $1.46. All three business lines contributed to this growth, and the company anticipates a positive outlook for the second half of fiscal 2025.
- Revenues for Q2 2025 reached $575 million, a notable increase from $467 million in Q2 2024.
- Diluted EPS for Q2 2025 was reported at $1.37, up from $0.99 in Q2 2024.
- Adjusted diluted EPS for Q2 2025 was $1.46, compared to $1.11 in Q2 2024.
- The company announced a dividend of $0.57 per share for the third quarter of fiscal year 2025.
Headline financials
Revenue & EPS history
Houlihan Lokey · Revenue · Quarterly
$575M
Revenue by segment
Houlihan Lokey · $467M total across 3 segments · Q2 2024
- Corporate Finance$282M-10.6%60.3%
- Financial Restructuring$115M+17.4%24.6%
- Financial & Valuation Advisory$70.6M-8.1%15.1%
Forward guidance
Houlihan Lokey anticipates a positive outlook for the second half of fiscal year 2025, citing momentum across all three business lines and the benefits of a highly diversified business model, despite recognizing uncertainties in the macro environment.
Tailwinds
- Momentum across all three business lines
- Benefits of a highly diversified business model
- Increase in the average transaction fee on closed transactions in Corporate Finance
- Increase in the average transaction fee on closed transactions in Financial Restructuring
- Increase in the number of Fee Events and an increase in the average fee per Fee Event in Financial and Valuation Advisory
Headwinds
- Uncertainties in the macro environment
- Increased state taxes
- Increased taxes due to foreign operations
- Increase in other operating expenses
- Increase in information technology and communication expenses
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 2025
+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
| Quarter | Report date | Reaction (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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