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].

Group 1 - The share transactions carried out by the company from February 10 to February 14, 2025, were disclosed to the AMF on February 18, 2025, and are publicly available on the company's website [1] - LVMH Moët Hennessy Louis Vuitton has a diverse portfolio across various sectors including Wines and Spirits, Fashion and Leather Goods, Perfumes and Cosmetics, Watches and Jewelry, and Selective Retailing [2] - The company operates numerous well-known brands such as Moët & Chandon, Louis Vuitton, Christian Dior, Bulgari, and Sephora, among others [2]

Group 1 - LVMH Moët Hennessy Louis Vuitton S.E. has initiated a share buyback program with a maximum amount of one billion euros, set to commence on February 24, 2025, and conclude on or before November 28, 2025 [1] - The shares repurchased under this program are intended to be cancelled, indicating a strategy to reduce the number of shares outstanding [1] Group 2 - LVMH operates a diverse portfolio across various sectors, including Wines and Spirits, Fashion and Leather Goods, Perfumes and Cosmetics, Watches and Jewelry, and selective retailing [2] - The company's Wines and Spirits division features renowned brands such as Moët & Chandon, Hennessy, and Veuve Clicquot, while its Fashion and Leather Goods division includes Louis Vuitton and Christian Dior [2] - In the Perfumes and Cosmetics sector, LVMH is represented by brands like Parfums Christian Dior and Fenty Beauty by Rihanna, and its Watches and Jewelry division includes Bulgari and Tiffany & Co. [2]

Company Overview - Moelis & Company is a global investment bank based in New York, providing strategic and financial advisory services across various industries, including mergers & acquisitions, capital markets transactions, recapitalizations, and restructurings [11]. Investment Ratings - Moelis & Company holds a 1 (Strong Buy) rating on the Zacks Rank, indicating strong potential for investment [12]. - The company has a VGM Score of B, suggesting a favorable combination of value, growth, and momentum characteristics [12]. Performance Metrics - The Momentum Style Score for Moelis is rated A, with shares having increased by 1% over the past four weeks [12]. - In the last 60 days, four analysts have revised their earnings estimates upwards for fiscal 2025, with the Zacks Consensus Estimate rising by $0.47 to $2.97 per share [12]. - Moelis boasts an impressive average earnings surprise of 82.5%, indicating strong performance relative to expectations [12]. Investment Considerations - With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, Moelis & Company is recommended for investors looking for strong investment opportunities [13].

Core Points - LVMH Moët Hennessy Louis Vuitton has announced the availability of its 2024 audited consolidated financial statements [1] - The French version of the financial statements was filed with the Autorité des Marchés Financiers (AMF) on February 12, 2025 [1] - The English translation of the financial statements can be accessed in the Publications section of the company's website [1]

Investors might want to bet on Moelis (MC) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.Analysts' growing optimism on the earnings prospects of this investment bank is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revi ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

Moelis & Company (MC) shares gained 2.9% in after-hours trading following the release of its better-than-expected fourth-quarter and full-year 2024 results. Adjusted earnings for the quarter of $1.18 per share surpassed the Zacks Consensus Estimate of 46 cents by a huge margin. The bottom line improved from a loss of 6 cents per share in the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results benefited from a rise in revenues and other income. Also, the compan ...