Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Houlihan Lokey (HLI) , which belongs to the Zacks Financial - Miscellaneous Services industry, could be a great candidate to consider.This investment banking company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 9.96%.For ...

SÃO PAULO--(BUSINESS WIRE)--Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Rafael Pereira has been appointed as a Senior Advisor to assist the firm with its expansion in Brazil. Mr. Pereira has more than two decades of experience as a tech entrepreneur and executive, building and growing technology-based businesses from spearheading startups to publicly listed companies. Mr. Pereira co-founded Open Co, Brazil’s leading consumer financing FinTech that democratizes acces ...

CHICAGO--(BUSINESS WIRE)--Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Brent Shepherd has joined as a Managing Director in its Capital Markets Group. Based in Chicago, Mr. Shepherd will co-lead the firm’s Healthcare Capital Markets efforts alongside Managing Director Neha Shah. Mr. Shepherd joins following 24 years at Capital One’s Healthcare Banking and Lending unit (formerly GE Capital Healthcare Financial Services prior to its sale to Capital One in 2015), where he ...

LOS ANGELES--(BUSINESS WIRE)--Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Scott Beiser will step down as Chief Executive Officer, a role he has held since 2003. Scott Adelson, Co-President and Global Co-Head of Corporate Finance, will succeed Mr. Beiser as Chief Executive Officer. Mr. Beiser will remain an executive officer of the firm as a Co-Chairman of Houlihan Lokey. In addition to these changes, Eric Siegert, Global Co-Head of Financial Restructuring, will assume ...

Revenue and Financial Performance - Total revenues for the three months ended December 31, 2023, were $511.1 million, a 12% increase compared to $456.5 million in the same period in 2022[131][132] - Revenues for the nine months ended December 31, 2023 were $1.39 billion, a 2% increase compared to $1.36 billion in the same period in 2022[136] - Corporate Finance revenues for the three months ended December 31, 2023 were $310.5 million, a 6% increase from $291.7 million in the same period in 2022, driven by higher average transaction fees[144] - Financial Restructuring revenues for the three months ended December 31, 2023 were $128.6 million, a 30% increase from $98.8 million in the same period in 2022, driven by higher average transaction fees[148] - Financial and Valuation Advisory revenues for the three months ended December 31, 2023 were $72.1 million, a 9% increase from $65.9 million in the same period in 2022, driven by an increase in the number of Fee Events[152] Operating Expenses and Compensation - Operating expenses for the three months ended December 31, 2023, were $414.6 million, up 11% from $372.3 million in the same period in 2022[131][133] - Employee compensation and benefits expense increased by 12% to $324.0 million for the three months ended December 31, 2023, compared to $289.3 million in the same period in 2022[131][133] - Non-compensation expenses rose by 9% to $90.6 million for the three months ended December 31, 2023, compared to $83.0 million in the same period in 2022[131][133] - Operating expenses for the nine months ended December 31, 2023 were $1.13 billion, a 2% increase from $1.11 billion in the same period in 2022, with employee compensation and benefits expense rising to $884.1 million, also a 2% increase[137] - Corporate expenses for the three months ended December 31, 2023 were $54.3 million, a 4% increase from $52.2 million in the same period in 2022, driven by higher compensation expenses[156] Income and Taxes - Income before provision for income taxes increased by 23% to $102.6 million for the three months ended December 31, 2023, compared to $83.6 million in the same period in 2022[131] - Net income attributable to Houlihan Lokey, Inc. was $70.8 million for the three months ended December 31, 2023, a 12% increase from $63.1 million in the same period in 2022[131] - Provision for income taxes for the three months ended December 31, 2023 was $31.8 million, reflecting an effective tax rate of 31.0%, up from $20.6 million and 24.6% in the same period in 2022 due to increased state and foreign taxes[135] - Provision for income taxes for the nine months ended December 31, 2023 was $73.3 million, reflecting an effective tax rate of 26.9%, up from $49.1 million and 20.2% in the same period in 2022 due to increased state and foreign taxes[139] Assets and Liabilities - Total assets as of December 31, 2023, were $2.96 billion, slightly down from $2.97 billion as of March 31, 2023[115][117] - Corporate Finance segment assets increased to $1.09 billion as of December 31, 2023, up from $1.02 billion as of March 31, 2023[115] - Financial and Valuation Advisory segment assets rose to $179.0 million as of December 31, 2023, compared to $165.4 million as of March 31, 2023[115] - As of December 31, 2023, the company had $464.8 million of cash in foreign subsidiaries, down from $475.0 million as of March 31, 2023[160] Cash Flow and Financing - Operating cash flows for the nine months ended December 31, 2023, resulted in a net inflow of $103.1 million, driven by net income of $199.2 million, a 2% increase from the previous year[167][168] - Investing activities for the nine months ended December 31, 2023, resulted in a net outflow of $55.7 million, primarily due to purchases of property and equipment[168] - Financing activities for the nine months ended December 31, 2023, resulted in a net outflow of $214.4 million, mainly due to dividends paid and employee tax obligations on share-based awards[168] - The company's cash, cash equivalents, and restricted cash decreased by $158.9 million to $555.9 million as of December 31, 2023, a 1% increase from the previous year[167] - The company has a syndicated revolving line of credit allowing borrowings of up to $100.0 million, with an uncommitted expansion option to increase the total credit facility to $200.0 million, maturing on August 23, 2025[163] - As of December 31, 2023, the company had no principal outstanding under the HLI Line of Credit and expects to continue compliance with loan covenants, including maintaining a minimum consolidated EBITDA of $150 million and a consolidated leverage ratio of less than 2.00 to 1.00[163] Other Income and Expenses - Other (income)/expense, net was $(6.0) million for the three months ended December 31, 2023, compared to $0.6 million in the same period in 2022[131][134] - Other (income)/expense, net was $(12.3) million for the nine months ended December 31, 2023, compared to $7.4 million in the same period in 2022, primarily due to increased interest and dividend income[138] Legal and Compliance - The company agreed to pay a civil monetary penalty of $15.0 million to the SEC as part of a settlement related to compliance with records preservation requirements[166] Foreign Currency and International Exposure - The net impact of foreign currency fluctuations on other comprehensive income was $25,574 for the three months ended December 31, 2023, and $8,665 for the nine months ended December 31, 2023[179] - The company had one foreign currency forward contract outstanding as of December 31, 2023, with a notional value of $2.0 million, resulting in a net gain of $11 during the three months ended December 31, 2023[181] - The company's international expansion increases exposure to foreign currency risks, with potential impacts on revenues, expenses, and the value of assets and liabilities in foreign subsidiaries[182]

Houlihan Lokey, Inc. (NYSE:HLI) Q3 2024 Earnings Conference Call February 1, 2024 5:00 PM ET Company Participants Scott Beiser - CEO Lindsey Alley - CFO Conference Call Participants Ken Worthington - JPMorgan Alex Jenkins - JMP Securities LLC Brennan Hawken - UBS Brendan O'Brien - Wolfe Research James Yaro - Goldman Sachs Ryan Kenny - Morgan Stanley Michael Brown - KBW Jim Mitchell - Seaport Global Securities LLC Operator Good day ladies and gentlemen. Thank you for standing by. Welcome to the Houlihan Loke ...

INVESTOR PRESENTATION This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation may be forward-looking statements. The words "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical ...

Houlihan Lokey, Inc. (HLI) is scheduled to release third-quarter fiscal 2024 results on Feb 1, 2024, after market close. Q3 EstimatesThe Zacks Consensus Estimate for Houlihan Lokey’s third-quarter fiscal 2024 earnings per share is pegged at $1.12, which indicates a 1.8% decline from the prior-year quarter’s reported figure.The consensus mark for revenues is pegged at $484 million, suggesting 6.1% growth from the year-ago quarter’s reported number.Earnings Surprise HistoryHoulihan Lokey’s bottom line beat es ...

Bankruptcies have continued rising in the past few years as companies struggle in this high-interest rate environment. Data by S&P shows that there were almost 600 major bankruptcies during the year, with the most notable ones being WeWork, Lordstown Motors, Rite Aid, and Bed Bath and Beyond being the top ones.Bankruptcies trend to continue in 2024Copy link to sectionThe situation, unfortunately, will continue this year as many companies that borrowed in a low-interest rate environment hit a wall of maturit ...

NEW YORK--(BUSINESS WIRE)--Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Michael Hommeyer has joined as a Managing Director in its Capital Markets Group. Based in New York, Mr. Hommeyer will spearhead a new syndicate function that focuses on expanding the firm’s investor coverage, distribution capabilities, and market insights as they pertain to U.S. private credit placements. Mr. Hommeyer joins the firm after spending 25 years at Morgan Stanley. Most recently, he serv ...