Financial Data and Key Metrics Changes - For the full year 2025, total revenues were $1.714 billion, up 15% year over year, marking a record result for the firm [5] - Fourth quarter revenues were $535 million, up 12% year over year, also a record quarter [5] - Adjusted pre-tax income for the full year was $357 million, with an adjusted pre-tax margin of 20.8% [8] - Adjusted earnings per share were $6.98 for the full year, compared to $5.02 in 2024 [9] - The firm ended the year with record cash balances of $586 million and no funded debt outstanding [10] Business Line Data and Key Metrics Changes - Strategic Advisory was the primary driver of revenue growth, with record revenues for both the fourth quarter and the year [5][13] - Restructuring and PJT Park Hill also contributed significantly, with PJT Park Hill achieving its strongest quarter ever [12][13] - Adjusted compensation expense for the full year was $1.15 billion, with a compensation ratio of 67.1%, down from 69% in 2024 [6] Market Data and Key Metrics Changes - Global primary fundraising volumes declined for the fourth consecutive year, while interest in secondary products grew [12] - M&A activity increased sharply in 2025, with global announced volumes significantly up, making it the second-best year for announced M&A activity [13] Company Strategy and Development Direction - The company aims to invest in its firm and people while returning capital to shareholders primarily through share repurchases [4] - The firm is focused on expanding its advisory capabilities and integrating its services, moving away from breaking out revenue by advisory placement [11] - The management believes the firm is well-positioned to capitalize on favorable deal environments due to its expanded footprint and enhanced capabilities [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued demand for restructuring services, citing a multi-year period of elevated activity [21] - The outlook for M&A activity remains positive, with expectations of continued strength in capital markets and CEO confidence [14][32] - Geopolitical risks and debates surrounding AI development may impact market sentiment, but the firm remains optimistic about its growth prospects [14][78] Other Important Information - The board approved a quarterly dividend of $0.25 per share [10] - The firm plans to report revenue as a single line item going forward, reflecting its strategic priority of expanding advisory capabilities [11] Q&A Session Summary Question: Outlook for Restructuring Activity - Management indicated that the restructuring business is in a multi-year period of elevated activity, driven by over-leveraged balance sheets and technological disruption [21][20] Question: M&A Activity and Market Conditions - Management believes the M&A market has not yet reached its full potential and expects elevated deal activity to continue due to favorable macroeconomic conditions [32] Question: Compensation Ratio Outlook - Management noted that the compensation ratio had peaked and is expected to continue to decline, with guidance to be provided in the first quarter results [34] Question: Private Capital Solutions Opportunities - Management highlighted the growth potential in private capital solutions, particularly in secondary markets, and expects to gain market share [69] Question: Competition for Talent in Restructuring - Management emphasized the importance of talent and culture, expressing confidence in attracting and retaining top talent in the restructuring business [71]

PJT Partners (NYSE:PJT) Q4 2025 Earnings call February 03, 2026 08:30 AM ET Speaker2day and welcome to the PJT Partners fourth quarter 2025 earnings call. Today's conference is being recorded. At this time, I would like to turn the conference over to Sharon Pearson, Head of Investor Relations. Please go ahead, ma'am.Speaker4Thank you very much. Good morning and welcome to the PJT Partners full year and fourth quarter 2025 earnings conference call. I'm Sharon Pearson, Head of Investor Relations at PJT Partne ...

PJT Partners (PJT) came out with quarterly earnings of $2.55 per share, beating the Zacks Consensus Estimate of $2.41 per share. This compares to earnings of $1.9 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +5.81%. A quarter ago, it was expected that this investment bank would post earnings of $1.24 per share when it actually produced earnings of $1.85, delivering a surprise of +49.19%.Over the last four quarters, the comp ...

Who We Are February 3, 2026 1 Notices and Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include certain information concerning future results of operations, business strategies, acquisitions, financing plans, competitive position, potential growth opportunities, potential operating performanc ...

Exhibit 99.1 PJT Partners Inc. Reports Record Full Year and Fourth Quarter 2025 Results Full Year Overview Media Relations: Jon Keehner Joele Frank, Wilkinson Brimmer Katcher Tel: +1 212.355.4449 PJT-JF@joelefrank.com Investor Relations: Sharon Pearson PJT Partners Inc. Tel: +1 212.364.7120 pearson@pjtpartners.com > Record Revenues, Pretax Income and EPS – Revenues of $1.71 billion, an increase of 15% from a year ago – GAAP Pretax Income of $343 million and Adjusted Pretax Income of $357 million, increases ...

NEW YORK--(BUSINESS WIRE)--PJT Partners Inc. (the "Company,†"PJT Partners,†"we,†"us" or "our†) (NYSE: PJT) today announced its financial results for the full year and quarter ended December 31, 2025. The increase in Advisory Revenues was due to increases in strategic advisory and restructuring revenues. The increase in Placement Revenues was due to increases in fund placement and corporate placement revenues. The decrease in Interest Income & Other was principally due to lower interest income as a resul ...

NEW YORK--(BUSINESS WIRE)--PJT Partners Inc. ("PJT Partners†) (NYSE:PJT) announced that it expects to release its full year and fourth quarter 2025 financial results on Tuesday morning, February 3, 2026. The earnings release will be available through the Investor Relations section of the PJT Partners website at https://www.pjtpartners.com. About PJT Partners PJT Partners is a premier, global, advisory-focused investment bank that was built from the ground up to be different. Our highly experienced, collab ...

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Group 1 - The company emphasizes the importance of building a strong foundation and acknowledges that the process takes more time than initially anticipated [1] - The focus on culture and attracting the right individuals has been prioritized, which has contributed to the company's current strong position [2]

Summary of PJT Partners Conference Call (December 09, 2025) Company Overview - **Company**: PJT Partners (NYSE:PJT) - **Speaker**: Paul Taubman, Chairman, CEO, and founder - **Company Milestone**: Celebrated its first decade with significant growth and development as a leading investment banking firm [1][2] Key Lessons and Strategic Goals - **Key Lesson**: Building a strong foundation takes time; patience is essential for long-term success [4] - **Strategic Goals**: Focus on leveraging the foundational investments made in the first decade to accelerate growth in the next 10 years without compromising standards [5] Investment Focus - **Target Areas**: Major investment opportunities identified in healthcare, technology, and industrials, which are characterized by large wallets and high-impact potential [6][7] - **Growth Strategy**: The company aims to capitalize on previously under-invested verticals to enhance its market position [7] Hiring Outlook - **Hiring Trends**: Anticipation of continued strong hiring as the company seeks to build on its foundational growth and capitalize on new opportunities [8][9] M&A Environment - **Current Administration Impact**: The current administration's approach is more favorable for large consolidating transactions compared to the previous administration, leading to increased deal activity [12][15] - **Private Equity Dynamics**: Private equity firms are currently cautious due to a mismatch between capital invested and returns realized, but there is an expectation of increased activity as conditions improve [16][17] Financing Conditions - **AI Data Center Debt**: Concerns about the impact of AI data center debt on financing markets are noted, but the underlying credit quality remains strong [22][23] - **Market Dynamics**: The potential for disruption in various industries due to AI deployment is highlighted, with a focus on the need for companies to adapt to changing business models [23] M&A Activity Trends - **Deal Size Trends**: While the number of smaller deals has decreased, larger deals are on the rise due to strong corporate balance sheets and a favorable regulatory environment [24][25] - **Overall M&A Volume**: Current M&A activity is returning to normal levels after being suppressed by previous economic conditions and regulatory challenges [26] Restructuring and Liability Management - **Market Outlook**: Continued high levels of restructuring and liability management activity are expected due to increased debt levels and ongoing business model disruptions [31][32] - **Geographic Expansion**: The company is expanding its restructuring capabilities internationally, increasing its addressable market [33] Talent and Compensation - **Hiring Market Dynamics**: The competitive hiring environment is influenced by M&A activity levels, affecting compensation ratios and recruitment efforts [40][43] - **Productivity Gains**: Anticipated increases in productivity due to technological advancements, with a focus on enhancing client service [44][45] Conclusion - **Future Outlook**: The company is positioned for growth in the coming years, with expectations of increased M&A activity, enhanced restructuring capabilities, and a focus on leveraging productivity gains to improve client service [46][47]