Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, the task of finding cutting-edge growth stocks is made easy with the help of the Z ...

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, 2024 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 ...

Financial Data and Key Metrics Changes - The company reported first quarter revenues of $329 million, up 65% year-over-year, marking the second highest revenue quarter ever [4][25] - Adjusted pre-tax income was $55 million, an increase of 81% from the previous year, with an adjusted EPS of $0.98, also up 81% [4][27] - The effective tax rate for the first quarter was 22%, down from 25.3% for the full year 2023 [8] Business Line Data and Key Metrics Changes - PJT Park Hill revenues increased significantly, driven by growth in Private Capital Solutions [10] - Restructuring revenues were up sharply year-over-year, indicating continued high levels of activity in liability management and in-court restructurings [31] - Strategic Advisory business saw strong revenue growth, with a record pre-announced pipeline and an increase in mandate count [32][33] Market Data and Key Metrics Changes - Global M&A volumes in 2023 were at a decade low, but there are signs of recovery driven by stronger economic indicators and rising equity valuations [13][58] - Year-to-date global annualized M&A activity is tracking modestly ahead of 2023 levels, with expectations of a 10% to 15% increase by year-end [39][58] Company Strategy and Development Direction - The company is focused on investing in its franchise and enhancing its Strategic Advisory footprint to capitalize on future market opportunities [24][14] - Management emphasized the importance of recruiting senior talent to position the company for a multiyear M&A upturn [33][39] Management's Comments on Operating Environment and Future Outlook - Management noted that while the near-term maturity wall has been addressed, another one looms in 2028, indicating a constructive restructuring environment [12] - The company expects restructuring revenues to remain elevated and approach last year's record performance [52] - There is a belief that the upcoming election may create volatility, impacting M&A activity, but post-election, activity is expected to increase [101] Other Important Information - The company repurchased approximately 1.5 million shares in the first quarter and plans to exchange 116,000 partnership units for cash [9] - The Board approved a dividend of $0.25 per share, to be paid on June 20, 2024 [29] Q&A Session Summary Question: What is the normalized revenue potential for PJT's Strategic Advisory business? - Management indicated that the current positioning is much stronger than in previous years, allowing for greater performance in a normalized environment [18][39] Question: How does the company view the current compensation ratio? - The current compensation expense ratio is 69.5%, slightly below last year's full-year ratio, with expectations that revenue growth will eventually exceed headcount growth [20][61] Question: What is the outlook for the restructuring business given recent record debt issuance? - Management expressed confidence in sustained elevated levels of restructuring activity due to ongoing disruptions in various sectors [45][74] Question: How does the company plan to utilize extra cash flow in the future? - The priority will be to neutralize dilution from equity issuances, with potential for both buybacks and dividend increases [96][97] Question: What impact is the upcoming election expected to have on M&A activity? - Management noted that while the election is creating some uncertainty, it is anticipated that M&A activity will increase post-election [101][102]

Company Overview - PJT Partners is a premier, global, advisory-focused investment bank with over $4 billion in strategic advisory[4] - The company has a broad suite of capabilities, advising on complex investor matters and liability management[10] - PJT Park Hill has raised over $490 billion in capital[86] Growth and Performance - The total partner count has increased by +161% since 2015[6] - Employee count has increased by +188% since 2015[6] - The company's revenues have increased by +216% since 2015, reaching $1,283 million in LTM 1Q24[6] - Adjusted EPS has increased by +140% since 2016, reaching $3.72 in LTM 1Q24[6] - Adjusted Pretax Income has increased by +395% since 2015, reaching $207 million in LTM 1Q24[6] Strategic Advisory - Strategic Advisory advises many of the world's most consequential companies[64] - The company has a growing roster of experienced practitioners in Strategic Advisory[22]

PJT Partners (PJT) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 117.78%. A quarter ago, it was expected that this investment bank would post earnings of $0.76 per share when it actually produced earnings of $0.96, delivering a surprise of 26.32%.Over the last four quarters, the com ...

Exhibit 99.1 PJT Partners Inc. Reports Record First Quarter 2024 Results First Quarter Overview Capital Management and Balance Sheet Paul J. Taubman, Chairman and Chief Executive Officer, said, "We reported our second highest revenue quarter ever, reflecting strong performance in all of our businesses. In addition to our strong results, we continue to see progress as measured by the success of our recruiting efforts, the maturation of our team, and the growing recognition of our brand. We continue to invest ...

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, 2023 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 ...

Financial Data and Key Metrics Changes - For the full year 2023, total revenues were $1.153 billion, up 12% year-over-year, with significant increases in restructuring offsetting declines in PJT Park Hill and strategic advisory revenues [20][138] - Adjusted pretax income for the full year was $183 million, with an adjusted pretax margin of 15.8% [12][138] - Adjusted compensation expense for the full year was $805 million, up 23% year-over-year, with a compensation ratio of 69.8% [10][138] - The effective tax rate for the full year was 25.3%, lower than the estimated rate of 26.7% [22] Business Line Data and Key Metrics Changes - The restructuring business delivered record results for the full year, capitalizing on favorable market conditions [15] - PJT Park Hill faced a challenging environment in 2023, with a significant reduction in capital return due to a lack of M&A and IPO activity [16] - Strategic advisory revenues saw a modest decline compared to the previous year [20] Market Data and Key Metrics Changes - The M&A market is expected to recover slowly, with historical levels anticipated to return, but not as attractive as in 2023 [7][30] - The restructuring cycle is believed to be in its early to middle innings, with a multiyear cycle of elevated activity expected [48][45] Company Strategy and Development Direction - The company is focused on leveraging its restructuring capabilities alongside strategic advisory to expand its footprint [34] - There is an emphasis on investing in talent during market downturns to prepare for future growth [6][5] - The company plans to continue its share repurchase program, with a new authorization of $500 million to mitigate dilution [23][140] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth prospects despite current market challenges, indicating a constructive outlook for 2024 [30][44] - The company anticipates a step function increase in occupancy costs due to renegotiated leases, impacting non-compensation expenses [147][126] - Management noted that while the M&A market is subdued, corporate interest in using M&A as a strategic tool remains strong [71][72] Other Important Information - The company ranked number one in announced restructurings in both the U.S. and globally for the year [25] - The weighted average share count for the year was 42.9 million shares, reflecting an increase due to performance shares [13] Q&A Session All Questions and Answers Question: Can you provide insights on the performance of Park Hill? - Management acknowledged that Park Hill had a record year in 2022, and the current struggles are relative to that high base, emphasizing the importance of market timing and composition within the business [28][29] Question: How do you view the interplay between restructuring and M&A advisory? - Management indicated that they have caught the restructuring wave early and are leveraging this to build out their strategic advisory capabilities [34] Question: What is the outlook for fundraising and its impact on Park Hill? - Management expects fundraising to improve in 2024 but does not anticipate a full return to normal levels until 2025, indicating a gradual recovery process [86] Question: How does geopolitical risk affect deal activity? - Management noted that while geopolitical risks are not currently a focus, they may become significant as the election approaches, potentially impacting deal activity [90][96] Question: What is the company's approach to share repurchases? - Management emphasized a strong commitment to share repurchases, indicating that they will be aggressive in using capital to buy back stock to avoid dilution for shareholders [97][140]

PJT Partners (PJT) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $1.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.32%. A quarter ago, it was expected that this investment bank would post earnings of $0.43 per share when it actually produced earnings of $0.78, delivering a surprise of 81.40%.Over the last four quarters, the comp ...

NEW YORK--(BUSINESS WIRE)--PJT Partners Inc. (the “Company” or “PJT Partners”) (NYSE: PJT) today announced its financial results for the full year and quarter ended December 31, 2023. Revenues The following table sets forth revenues for the three months and year ended December 31, 2023 and 2022:     Three Months Ended December 31,           Year Ended December 31,           2023     2022     % Change     2023     2022   ...