10-K · February 26, 2026
PJT presents an advisory-focused growth strategy built on three integrated franchises (Strategic Advisory; Restructuring & Special Situations; PJT Park Hill) and emphasizes talent, collaboration and selective footprint…
Earnings analysis · 10-Q
PJT earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
PJT Partners reported a strong Q1 2026 with revenue of $418.2 million, reflecting a 29% increase year-on-year, and an adjusted EPS of $1.54, exceeding estimates. The company also announced an $800 million share…
Read full summary
PJT Partners reported a strong Q1 2026 with revenue of $418.2 million, reflecting a 29% increase year-on-year, and an adjusted EPS of $1.54, exceeding estimates. The company also announced an $800 million share repurchase authorization and a quarterly dividend of $0.25. Despite the positive performance, higher operating expenses and a lower effective tax benefit impacted net income.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.54
What stood out
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Strong Revenue Growth
Total revenue reached $418.2 million, up 29% from $324.5 million in Q1 2025.
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Adjusted EPS Beat Estimates
Reported diluted EPS of $1.54, surpassing estimates of $1.53.
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Increased Advisory Activity
Revenue growth attributed to strategic advisory, private capital solutions, and restructuring.
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Share Repurchase Authorization
Authorized an $800 million Class A share repurchase program, replacing the prior $500 million program.
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Lower Allowance for Credit Losses
Allowance for credit losses increased to $1.8 million from $1.6 million, maintaining credit stability.
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Positive Net Income Trend
Net income attributable to PJT Partners Inc. was $60.5 million, compared to $54.0 million in Q1 2025.
What to watch
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High Compensation Expenses
Compensation and benefits costs increased to $280.3 million from $221.1 million year-on-year.
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Dependence on Client Payments
Liquidity highly reliant on successful transaction completions and timing of receivable collections.
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Regulatory Exposure
Ongoing compliance with varying international regulations can impact financial performance.
Management's outlook
No numeric forward guidance provided; positive outlook in MD&A.
Earlier filings 4
10-Q · July 31, 2025
PJT reported a QoQ/YoY beat in the quarter with total revenues of $406,884 (three months ended June 30, 2025) and improved operating profi tability (income before taxes $76,479, or ~18.8% of revenue). Diluted EPS was…
10-Q · May 1, 2025
PJT reported quarter revenues of $324,531 (three months ended March 31, 2025) versus $329,393 in the prior-year quarter, with net income of $74,163 and net income attributable to PJT Partners Inc. of $54,016. Diluted…
10-K · February 27, 2025
PJT positions itself as a premier, advisory‑focused investment bank with integrated franchises in Strategic Advisory, Restructuring & Special Situations and PJT Park Hill, emphasizing an asset‑light model and global…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.