NYSE$HLI

Houlihan Lokey Inc. · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Houlihan Lokey reported a decrease in revenue but an increase in FVA revenue for Q4 2022.

Houlihan Lokey's Q4 2022 revenues decreased by 6% to $471 million compared to Q4 2021. Diluted EPS was $0.97, while adjusted diluted EPS was $1.30. The company announced an increase in the quarterly dividend to $0.53 per share and a replacement share repurchase program of up to $500 million.

  • Q4 2022 revenues decreased by 6% to $471 million compared to Q4 2021.
  • Q4 2022 diluted EPS was $0.97, compared to $1.44 in Q4 2021.
  • Adjusted Q4 2022 diluted EPS was $1.30, compared to $1.51 in Q4 2021.
  • The board of directors increased the quarterly dividend to $0.53 per share.

Headline financials

Total Revenue

$471M

Previous: $501M-5.9%
EPS (adj)

$1.30

Previous: $1.51-13.9%
CF Closed Transactions

144

Previous: 151-4.6%
CF Managing Directors

202

Previous: 120+68.3%
FR Closed Transactions

25

Previous: 35-28.6%
FR Managing Directors

53

Previous: 47+12.8%
FVA Fee Events

999

Previous: 765+30.6%
FVA Managing Directors

34

Previous: 31+9.7%
Capital Expenditures

$1.13M

Previous: $3.15M-64.2%
Free Cash Flow

$63.3M

Previous: $270M-76.5%
Net Income

$65.2M

Previous: $99.4M-34.4%
Operating Income

$98.6M

Previous: $140M-29.7%
Gross Profit

$178M

Previous: $184M-3.3%
Cash & Equivalents

$834M

Previous: $847M-1.6%
Total Assets

$2.89B

Previous: $2.43B+19.0%

Revenue & EPS history

Houlihan Lokey · Revenue · Quarterly

$471M

Q4 2022-5.9%vs Q4 2021
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Houlihan Lokey · $471M total across 3 segments · Q4 2022

  • Corporate Finance
    $279M-7.2%
  • Financial Restructuring
    $122M-14.8%
  • Financial & Valuation Advisory
    $70.6M+23.1%

Forward guidance

Houlihan Lokey enters fiscal year 2023 optimistic about the firm’s continued ability to perform in today’s evolving market environment.

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 Q4 2022

Historical avgQ4 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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