PJT Partners (PJT)

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PJT Partners (PJT) - 2020 Q2 - Quarterly Report
2020-07-31 19:30
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 JUNE 30, 2020 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: 001-36869 PJT Partners Inc. (Exact name of Registrant as specified in its charter) Delaware 36-4797143 (State or other jurisdiction ...
PJT Partners (PJT) Investor Presentation - Slideshow
2020-07-30 14:47
Investor Presentation July 28, 2020 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 perf ...
PJT Partners (PJT) - 2020 Q2 - Earnings Call Transcript
2020-07-28 19:22
PJT Partners, Inc. (NYSE:PJT) Q2 2020 Earnings Conference Call July 28, 2020 8:30 AM ET Company Participants Sharon Pearson - MD & Head, Investor & External Relations Paul Taubman - Founding Partner, Chairman & CEO Helen Meates - CFO Conference Call Participants Devin Ryan - JMP Securities Richard Ramsden - Goldman Sachs Group Steven Chubak - Wolfe Research Operator Good day, and welcome to the PJT Partners Second Quarter 2020 Earnings Call. Today's conference is being recorded. At this time, I would like t ...
PJT Partners (PJT) - 2020 Q1 - Quarterly Report
2020-05-01 20:31
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, 2020 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: 001-36869 PJT Partners Inc. (Exact name of Registrant as specified in its charter) Delaware 36-4797143 (State or other jurisdiction ...
PJT Partners (PJT) - 2020 Q1 - Earnings Call Presentation
2020-04-28 15:07
Investor Presentation April 28, 2020 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 per ...
PJT Partners (PJT) - 2020 Q1 - Earnings Call Transcript
2020-04-28 15:03
Financial Data and Key Metrics Changes - Total revenues for Q1 2020 were $200 million, up 56% year-over-year [18] - Adjusted pretax income increased to $39 million, up from $15 million in the previous year, with an adjusted pretax margin of 19.7% compared to 11.8% [20] - Adjusted earnings per share were $0.71, significantly up from $0.28 in Q1 2019 [21] Business Line Data and Key Metrics Changes - Restructuring revenues rose significantly year-over-year, with a dramatic increase in restructuring activity since the pandemic began [10][12] - Strategic advisory revenues increased to $157 million, up 50% year-over-year, with a strong backlog of announced but not yet closed transactions [18][12] - PJT Park Hill revenues increased modestly year-over-year, but are expected to decline significantly in 2020 due to market dislocations [14] Market Data and Key Metrics Changes - The firm experienced a significant uptick in client dialogues focused on capital structure and liquidity issues due to the pandemic [12][28] - The number of active client mandates increased significantly, reflecting heightened demand for advisory services [12][32] Company Strategy and Development Direction - The company aims to leverage its three synergistic business lines—restructuring, strategic advisory, and capital markets—to better serve clients during the crisis [11] - The firm is focused on maintaining a strong cash position and is unlikely to be active in share repurchases for the remainder of the year due to economic uncertainties [15][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth for 2020 despite the unprecedented economic backdrop, citing strong visibility from retainer-based business and backlog [17][34] - The firm anticipates a long cycle of restructuring activity, with clients increasingly focused on capital structure and liquidity [29][30] Other Important Information - The firm ended the quarter with $113 million in cash and no debt, expecting to end 2020 in its strongest financial position ever [22] - A dividend of $0.05 per share was approved, to be paid on June 17, 2020 [22] Q&A Session Summary Question: How did the restructuring business perform in the prior cycle? - Management noted that the restructuring business saw a significant uptick in activity during the last economic downturn, but emphasized that the current firm structure and capabilities are vastly different today [26][27] Question: Are there more companies seeking advice since the pandemic started? - Management confirmed an increase in client engagement, with more companies recognizing the need for strategic advice [31][32] Question: What could change the expectation of year-over-year revenue growth? - Management highlighted strong visibility from retainer-based business and backlog, but acknowledged the uncertainty in the current environment [34] Question: What is the appetite for strategic and sponsor M&A activity? - Management indicated that while sponsor activity may be limited in the short term due to uncertainty, there is potential for increased activity as companies reassess their capital structures [41][43] Question: How is the firm managing capacity in the restructuring business? - Management stated that they have increased headcount and resources in restructuring, ensuring they can meet the demand in the current environment [45][46] Question: Will there be opportunities for talent acquisition post-quarantine? - Management expressed confidence in attracting high-caliber talent, noting that the firm's business model is increasingly appealing to potential recruits [48][49]
PJT Partners (PJT) - 2019 Q4 - Annual Report
2020-02-27 22:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 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 001-36869 PJT Partners Inc. (Exact name of Registrant as specified in its Charter) Delaware 36-4797143 (State or other jurisdiction of in ...
PJT Partners (PJT) - 2019 Q4 - Earnings Call Transcript
2020-02-06 17:09
PJT Partners Inc. (NYSE:PJT) Q4 2019 Earnings Conference Call February 6, 2020 8:30 AM ET Company Participants Sharon Pearson – Head-Investor Relations Paul Taubman – Chairman and Chief Executive Officer Helen Meates – Chief Financial Officer. Conference Call Participants Devin Ryan – JMP Securities Richard Ramsden – Goldman Sachs Jim Mitchell – Buckingham Research Sumeet Mody – Piper Sandler Operator Good morning, and welcome to the PJT Partners Full Year and Fourth Quarter 2019 Earnings Call. At this time ...
PJT Partners (PJT) - 2019 Q3 - Quarterly Report
2019-11-01 20:32
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: 001-36869 PJT Partners Inc. (Exact name of Registrant as specified in its charter) 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 SEPTEMBER 30, 2019 Delaware 36-4797143 (State or other jurisdic ...
PJT Partners (PJT) - 2019 Q2 - Quarterly Report
2019-08-02 20:33
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 JUNE 30, 2019 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: 001-36869 PJT Partners Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer ...