Moelis & Company (NYSE:MC) Q1 2025 Earnings Conference Call April 23, 2025 5:00 PM ET Company Participants Matt Tsukroff - Vice President of Investor Relations Chris Callesano - Chief Executive Officer Kenneth Moelis - Chief Financial Officer Conference Call Participants Devin Ryan - Citizens JMP Securities, LLC Kenneth Worthington - JPMorgan Chase & Co. James Yaro - Goldman Sachs Brendan O’Brien - Wolfe Research, LLC Michael Brown - Wells Fargo Securities, LLC Ryan Kenny - Morgan Stanley Benjamin Rubin - U ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36418 Moelis & Company (Exact name of registrant as specified in its charter) Delaware 46-4500216 (State or other jurisdiction ...

Exhibit 99.1 Moelis & Company Reports First Quarter 2025 Financial Results; Declares Regular Quarterly Dividend of $0.65 Per Share NEW YORK, April 23, 2025 – Moelis & Company (NYSE:MC) today reported financial results for the first quarter ended March 31, 2025. The Firm's first quarter revenues of $306.6 million increased 41% from the prior year period. The Firm reported first quarter GAAP net income of $53.8 million, or $0.64 per share (diluted). On an Adjusted basis, the Firm reported net income of $54.4 ...

Paris, Friday, April 18th, 2025 At the Annual Shareholders’ Meeting of LVMH Moët Hennessy Louis Vuitton held on Thursday, April 17th, 2025, approval was given for the payment of a dividend for financial year 2024 of 13.00 Euros per share.Taking into account the 5.50 Euros paid on Wednesday, December 4th, 2024, the balance of 7.50 Euros will be paid on Monday, April 28th, 2025. The last trading day with dividend rights is Wednesday, April 23rd, 2025. LVMHLVMH Moët Hennessy Louis Vuitton is represented in Win ...

Core Viewpoint - LVMH Moët Hennessy Louis Vuitton reported a revenue of €20.3 billion in Q1 2025, demonstrating resilience and innovative momentum despite a challenging geopolitical and economic environment [1][9]. Revenue Performance - Revenue by region showed Europe achieving growth, while the United States experienced a slight decline. Japan's revenue decreased compared to Q1 2024, which had benefitted from strong Chinese consumer spending [2]. - Total revenue for LVMH decreased by 2% year-over-year, with an organic decline of 3% [2]. Business Group Performance - **Wines & Spirits**: Revenue declined by 8% reported and 9% organic, with Champagne showing slight decreases and Cognac affected by weaker demand in China and the U.S. [2][3]. - **Fashion & Leather Goods**: Revenue decreased by 4% reported and 5% organic, but showed resilience compared to a strong Q1 2024. Notable successes included a relaunch of a collection with Takashi Murakami and the introduction of a new cosmetics segment [2][4]. - **Perfumes & Cosmetics**: Revenue remained stable, supported by successful product launches and innovations in fragrances and skincare [5][6]. - **Watches & Jewelry**: Revenue was stable, with Tiffany & Co. expanding its iconic lines and TAG Heuer returning as the Official Timekeeper of Formula 1 [7]. - **Selective Retailing**: Revenue was stable, with Sephora continuing to grow and DFS facing challenges due to international conditions [8]. Strategic Focus - LVMH remains vigilant and confident, focusing on brand development through innovation, investment, and a commitment to quality and desirability in its products [9][10].

European Company with share capital of 150 042 510 eurosRegistered office: 22 avenue Montaigne – 75008 Paris – France775 670 417 RCS Paris The Shareholders’ Meeting will be held on Thursday, April 17, 2025 at 10.30 a.m. at Carrousel du Louvre, 99 rue de Rivoli, 75001 Paris (France). The Shareholders who wish to attend the Shareholders’ Meeting must hold an admission card and an identity document, it being recalled that all proxies, including spouses, must provide proof of their power of attorney and present ...

Group 1 - The company LVMH Moët Hennessy Louis Vuitton has announced the availability of its 2024 Universal Registration Document (URD) in compliance with applicable regulations [1] - The French version of the URD was filed with the Autorité des marchés financiers (AMF) on March 25, 2025, in ESEF format under reference D.25-0150 [2] - The English translation of the URD can be accessed on the company's website and is also available on the AMF website [2] Group 2 - The 2024 Universal Registration Document includes the annual financial report, the report of the Board of Directors on corporate governance, and the Statutory Auditors' reports [3] - Additional contents of the URD comprise the statement of Auditors' fees, the description of the share buyback program, and the sustainability report along with the vigilance plan of the Board of Directors [3]

Group 1 - Moelis & Company is a leading independent investment bank that generates its income entirely from advisory activities [1] - The company closed 2024 on a very strong note, delivering significant beats on both the top and bottom lines [1]

Core Viewpoint - Moelis & Company has shown significant improvement in its financial performance, with adjusted earnings and revenues surpassing expectations, despite facing increased operating expenses [2][4][5]. Financial Performance - Adjusted earnings for Q4 were $1.18 per share, exceeding the Zacks Consensus Estimate of 46 cents, and improved from a loss of 6 cents per share in the prior-year quarter [2]. - Net income on a GAAP basis was $99.8 million, compared to a loss of $6.5 million in the prior-year quarter [3]. - Total revenues for the quarter reached $438.7 million, a substantial increase year over year, driven by higher average fees per completed transaction, and surpassed the Zacks Consensus Estimate of $338.7 million [4]. Revenue and Expenses - For 2024, total revenues were reported at $1.19 billion, reflecting a 40% increase and exceeding the consensus estimate of $1.10 billion [4]. - Total operating expenses for the quarter were $307.2 million, a 37% increase attributed to rising compensation and benefits costs as well as non-compensation expenses [5]. - Other income for the quarter was $6 million, up 17%, surpassing the projected $4 million [5]. Liquidity and Outlook - As of December 31, 2024, the company had cash and liquid investments totaling $560.4 million, with no debt or goodwill [5]. - Management anticipates an increase in non-compensation expenses in 2025 due to higher technology, occupancy, and travel expenses, along with rising compensation expenses due to a hiring spree [6]. Market Sentiment and Estimates - There has been an upward trend in estimates revisions, with the consensus estimate shifting by 39.81% recently [7]. - Moelis has received a Zacks Rank of 1 (Strong Buy), indicating expectations for above-average returns in the coming months [10].

Financial Performance - For the year ended December 31, 2024, the company earned GAAP revenues of $1,194.5 million, a 40% increase from $854.7 million in 2023[201]. - The company reported a net income of $151.5 million for the year ended December 31, 2024, a significant recovery from a net loss of $27.5 million in 2023[243]. - Total operating activities generated cash inflows of $427.5 million in 2024, compared to $158.5 million in 2023[243]. - Cash, cash equivalents, and restricted cash increased to $413.2 million as of December 31, 2024, from $187.2 million in 2023, marking a $226.0 million increase[243]. Client Growth - The number of clients increased from 304 in 2023 to 406 in 2024, with clients paying fees of $1 million or more rising from 175 to 241[212]. Operating Expenses - Operating expenses for 2024 were $1,021.6 million, representing 86% of revenues, compared to $895.1 million or 105% of revenues in 2023[214]. - Compensation and benefits expenses were $830.2 million in 2024, accounting for 69% of revenues, down from 84% in 2023[217]. - Non-compensation expenses increased to $191.4 million in 2024, representing 16% of revenues, compared to 21% in the prior year[220]. Tax and Other Income - The provision for income taxes was $44.5 million for 2024, against a pre-tax income of $196.0 million, compared to a benefit of $1.6 million in 2023[224]. - Other income for 2024 was $23.1 million, up from $11.2 million in 2023, primarily due to gains on investments and cash equivalent earnings[222]. Cash and Liquidity - As of December 31, 2024, the company had cash equivalents of $350.9 million, up from $137.4 million in 2023, and cash of $61.5 million, compared to $49.1 million in 2023[228]. - The company maintains two revolving credit facilities with aggregate base credit commitments of $50.0 million, with no borrowings under the $5.0 million facility as of December 31, 2024[231]. - The company has a total payable of $290.8 million due under the tax receivable agreement as of December 31, 2024, with no payments due in less than one year[245]. Shareholder Returns - A regular quarterly dividend of $0.65 per share was declared for payment on March 27, 2025, following total dividends of $2.40 per share paid in 2024[234]. - The company repurchased 196,416 shares in 2024, down from 1,107,683 shares in 2023, with $62.5 million remaining under the share repurchase program as of December 31, 2024[235]. Market Conditions - The M&A market showed gradual improvement throughout 2024, with expectations for continued growth in client engagement and transaction activity[202]. - The company anticipates a prolonged restructuring cycle driven by elevated borrowing costs, providing opportunities for liability management[202]. - The company operates in a highly competitive environment, with revenues primarily generated from advisory engagements that are not predictable[206]. Revenue Recognition - The company earns the majority of its revenues from advisory services related to mergers and acquisitions, capital markets transactions, and corporate finance matters[255]. - Revenue from advisory services is recognized over time as performance obligations are fulfilled, with upfront fees recognized systematically over the service period[256][257]. - Fixed fees for fairness opinions are recognized at a point in time upon completion of the engagement, while underwriting fees are recognized when the offering is completed[258]. - Deferred revenues are recorded when fees are received but not yet earned, reflecting the company's right to consideration before all performance obligations are complete[259]. Accounts Receivable and Credit Losses - Accounts receivable as of December 31, 2024, were $51.4 million, slightly up from $51.2 million in 2023, net of allowances of $1.7 million and $1.3 million, respectively[230]. - The company maintains an allowance for credit losses based on the aging of accounts receivable, with reserves adjusted according to historical charge-offs and current economic conditions[261]. Tax Positions - No unrecognized tax benefits were recorded for the years ended December 31, 2024 and 2023, and no income tax-related interest or penalties were recorded for the same periods[265]. - The company evaluates uncertain tax positions regularly, with potential adjustments recorded in the period of determination[265]. Accounting Developments - Recent accounting developments and their potential impact on financial statements are discussed in Note 3 of the consolidated financial statements[266]. - Quantitative and qualitative disclosures about market risk are provided in the management's discussion and analysis section[267].