PJT Partners (PJT) - 2025 Q2 - Earnings Call Presentation

Company Overview - PJT Partners is presented as a premier, global, advisory-focused investment bank[11] with a market capitalization of approximately $72 billion[14] - The company has grown to 129 partners globally[14] with an average partner experience of over 25 years[14], and employs 1,155 people across 15 offices in over 60 countries[14] - The firm serves over 400 clients[14] and has achieved approximately $15 billion in LTM 2Q25 revenues[14] Growth and Performance - Since 2015, the company has experienced significant growth, including a 180% increase in total partner count[27] and a 227% increase in total headcount[27] - Revenue has increased by 278% from $406 million in 2015 to $1535 million in LTM 2Q25[27] - Adjusted EPS has increased by 250% from $155 in 2016 to $542 in LTM 2Q25[27] - Adjusted Pretax Income has increased by 601% from $42 million in 2015 to $294 million in LTM 2Q25[27] Financial Highlights (2Q25) - Revenue for the second quarter of 2025 was $407 million, a 13% increase[68] - GAAP Pretax Income was $76 million, a 19% increase[68], while Adjusted Pretax Income was $80 million, a 22% increase[68] - GAAP Diluted EPS was $121, a 14% increase[68], and Adjusted EPS was $154, a 29% increase[68] Financial Highlights (First Half 2025) - Revenue for the first half of 2025 was $731 million, a 6% increase[68] - GAAP Pretax Income was $129 million, a 9% increase[68], while Adjusted Pretax Income was $136 million, a 13% increase[68] - GAAP Diluted EPS was $321, a 40% increase[68], and Adjusted EPS was $259, a 19% increase[68] Financial Highlights (LTM 2Q25) - Revenue for the last twelve months ending 2Q25 was $1535 million, an 18% increase[68] - GAAP Pretax Income was $281 million, a 32% increase[68], while Adjusted Pretax Income was $294 million, a 35% increase[68] - GAAP Diluted EPS was $582, a 52% increase[68], and Adjusted EPS was $542, a 38% increase[68] Capital Management - The company prioritizes investing in its business, offsetting dilution, and maintaining a dividend[70] - The company has a disciplined approach to expense management and maintains a strong cash position[70] - Approximately 40% employee ownership aligns senior management awards with shareholder value creation[70] - The company has repurchased shares, spending $438 million on share repurchases in LTM 2Q25[74]