PJT Partners, Inc. (NYSE:PJT) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET

Company Participants

Sharon Pearson - Head of Investor Relations
Paul Taubman - Chairman and Chief Executive Officer
Helen Meates - Chief Financial Officer

Conference Call Participants

Devin Ryan - Citizens JMP
James Yaro - Goldman Sachs
Jim Mitchell - Seaport Global Securities
Brendan O’Brien - Wolfe Research
Ben Rubin - UBS

Operator

Good day and welcome to the PJT Partners First Quarter 2024 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.

Sharon Pearson

Thanks very much. Good morning and welcome to the PJT Partners first quarter 2024 earnings conference call. I’m Sharon Pearson, Head of Investor Relations at PJT Partners. And joining me today is; Paul Taubman, our Chairman and Chief Executive Officer; and Helen Meates, our Chief Financial Officer.

Before I hand the call over to Paul, I want to point out that during the course of this conference call we may make a number of forward-looking statements. These forward-looking statements are subject to various risks and uncertainties and there are important factors that could cause actual outcomes to differ materially from those indicated in these statements. We believe that these factors are described in the Risk Factors section contained in PJT Partners’ 2023 Form 10-K, which is available on our website at pjtpartners.com.

I want to remind you that the company assumes no duty to update any forward-looking statements and that the presentation we make today contains non-GAAP financial measures, which we believe are meaningful in evaluating the company’s performance. For detailed disclosures on these non-GAAP metrics and their GAAP reconciliations, you should refer to the financial data contained within the press release we issued this morning, also available on our website.

And with that, I’ll turn the call over to Paul.

Paul Taubman

Thank you, Sharon. Good morning, everyone and thank you for joining our earnings call. Earlier today, we reported first quarter revenues of $329 million, up 65%; adjusted pre-tax income of $55 million, up 81%; and adjusted EPS of $0.98, up 81% from year ago levels. We had our second highest revenue quarter ever, reflecting strong performance in all of our businesses, as we benefited from continued momentum in restructuring, significantly improved results in PJT Park Hill and strong performance in Strategic Advisory.