NYSE$PJT

PJT Partners Inc · Q1 2025 earnings

Q1 2025 earnings · · Before market open · Investor relations

Briefing

PJT Partners reported Q1 2025 revenue of $324.5M, net income of $54.0M, diluted EPS of $2.12.

For Q1 2025, PJT Partners reported Revenue was $324.5M, net income was $54.0M, diluted EPS was $2.12. Management discusses operating trends, liquidity, and outlook in the quarterly filing.

  • Revenue $324.5M for Q1 2025.
  • Net income $54.0M.
  • Diluted EPS $2.12.

Headline financials

Total Revenue

$325M

Previous: $329M-1.5%
EPS (adj)

$2.12

Previous: $1.22+73.8%
Compensation & Benefits % of Rev

68.1%

Previous: 69.5%-2.0%
Non-Compensation % of Rev

15.7%

Previous: 14.1%+11.3%
Total Expenses % of Rev

83.8%

Previous: 83.6%+0.2%
Pretax Income % of Rev

16.2%

Previous: 16.4%-1.2%
Adjusted Comp & Benefits % of Rev

67.5%

Previous: 69.5%-2.9%
Adjusted Non-Comp % of Rev

15.2%

Previous: 13.7%+10.9%
Adjusted Total Expenses % of Rev

82.7%

Previous: 83.2%-0.6%
Adjusted Pretax Income % of Rev

17.3%

Previous: 16.8%+3.0%
GAAP Effective Tax Rate

-41.1%

Previous: 1.0%-4210.0%
Capital Expenditures

-$1.98M

Previous: -$439K-351.5%
Net Income

$54M

Previous: $32.6M+65.6%
Operating Income

$52.6M

Previous: $208M-74.7%

Revenue & EPS history

PJT · Revenue · Quarterly

$325M

Q1 2025-1.5%vs Q1 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

PJT · $278M total across 3 segments · Q3 2023

  • Advisory Fees
    $244M+8.8%
  • Placement Fees
    $26.7M-32.8%
  • Interest Income & Other
    $7.57M+272.2%

Forward guidance

Asset-management outlook depends on AUM flows, performance fees, and market levels.

Tailwinds

  • Advisory and placement fee pipelines.
  • Investment performance and client retention.

Headwinds

  • Market volatility reduces activity and fees.
  • Competition for institutional mandates.

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 2025

Historical avgQ1 2025

+1.5%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+2.8%

Avg return

30 days after

62%

26 / 42 earnings

Positive

+14.0%

Q4 2016

Best reaction

-11.6%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.1%-0.6%-0.2%
Q4 2025-7.5%-6.6%-16.1%
Q3 2025+0.6%+2.6%+5.1%
Q1 2025+4.5%+6.0%+11.5%
Q4 2024+5.1%+5.0%-10.4%
Q3 2024-2.3%-1.0%+17.1%
Q2 2024+5.7%-2.5%-2.2%
Q1 2024+6.4%+6.3%+14.0%
Q4 2023-4.9%-1.2%+1.1%
Q3 2023+10.0%+13.4%+22.9%
Q2 2023+5.7%-0.1%-3.1%
Q1 2023-11.6%-10.9%-4.2%
Q4 2022-5.0%-3.1%-5.1%
Q3 2022-5.3%-3.0%+3.8%
Q2 2022+3.0%+4.9%+7.0%
Q1 2022+4.0%+1.0%+13.9%
Q4 2021-8.4%-9.1%-13.9%
Q3 2021-10.3%-8.1%-9.3%
Q2 2021+3.0%+0.3%+6.4%
Q1 2021+5.1%-0.3%-0.5%
Q4 2020-1.5%-3.6%-10.3%
Q3 2020+1.2%-1.0%+4.6%
Q2 2020+2.8%+0.6%+11.1%
Q1 2020+11.2%-0.9%+15.5%
Q4 2019+5.2%+8.2%-10.9%
Q3 2019+6.8%+4.9%+8.7%
Q2 2019+12.2%+7.3%+10.3%
Q1 2019+1.3%+4.2%-14.4%
Q4 2018-0.4%-0.3%-7.6%
Q3 2018+6.2%+7.0%+11.2%
Q2 2018+7.0%+3.8%+5.9%
Q1 2018-2.3%-5.2%-0.4%
Q4 2017+3.7%+6.3%+10.4%
Q3 2017-3.2%-2.2%+8.9%
Q2 2017-7.4%-6.9%-10.8%
Q1 2017+5.4%+4.4%+14.6%
Q4 2016+14.0%+18.4%+21.3%
Q3 2016-3.4%-2.0%+6.8%
Q2 2016-4.2%-7.8%-5.3%
Q1 2016+9.1%
Q4 2015+1.6%
Q3 2015+0.2%
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014

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