Perella Weinberg Partners(US:PWP) Globenewswireยท2025-02-07 11:58Financial Overview - Perella Weinberg Partners reported record revenues of $878.0 million for the full year 2024, a 35% increase from $648.7 million in 2023. For Q4 2024, revenues were $225.7 million, up 6% from $212.7 million in Q4 2023 [5][7] - The increase in revenues was attributed to larger transactions in both size and number across the business, with significant contributions from mergers and acquisitions as well as financing and capital solutions [5][6] - Adjusted pre-tax income for the full year was $137 million, while GAAP pre-tax loss was $(68) million. Adjusted EPS was $0.96, and GAAP diluted EPS was $(1.22) [7][30] Expenses - Total compensation and benefits for the full year 2024 were $784.2 million, compared to $608.9 million in 2023. Adjusted total compensation and benefits were $589.7 million, up from $454.6 million [6][9] - Non-compensation expenses for the full year were $172.3 million, an increase from $154.8 million in the prior year. Adjusted non-compensation expenses were $162.4 million, compared to $144.0 million in 2023 [10][13] Balance Sheet and Capital Management - As of December 31, 2024, the company had $407.4 million in cash and short-term investments, with no outstanding debt [16] - The firm returned approximately $282 million to equity holders in 2024, including share repurchases and dividends [17][18] Market Position and Strategy - The firm is focused on providing tailored, trusted advice to clients, which has led to strong momentum across its service lines. The CEO emphasized the importance of helping clients navigate complex strategic and financial challenges [3][4] - The company added five partners and eleven managing directors in 2024, indicating a commitment to talent investment and growth [1]