PJT Partners, Inc. (NYSE:PJT) Q3 2024 Earnings Conference Call October 29, 2024 8:30 AM ET

Company Participants

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

Conference Call Participants

Devin Ryan - Citizens JMP Securities
James Yaro - Goldman Sachs
James Mitchell - Seaport Global Securities
Brennan Hawken - UBS
Brendan O'Brien - Wolf Research
Aidan Hall - KBW

Operator

Good day, and welcome to the PJT Partners Third 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 ma’am.

Sharon Pearson

Good morning. Thanks very much, Leo. And welcome to the PJT Partners third quarter 2024 earnings conference call. Joining me today is Paul Taubman, our Chairman and Chief Executive Officer; and Helen Meates, our Chief Financial Officer.

Before, I turn 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 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. Thank you all for joining today's earnings call. We reported strong results with record third quarter revenues of $326 million, up 17% year-on-year, adjusted pretax income up 16% and adjusted EPS up 19% from year ago levels. Our nine month revenues were also a record at $1.016 billion, up 23% year-on-year, reflecting increased contributions from all of our businesses. Our nine month adjusted pretax income was up 32% while our nine month adjusted EPS increased 35% from year ago levels. The benefits of our sustained investment in the business are beginning to shine through in our financial results. We remain committed to continued investment as we seek to enhance our capabilities, deepen our industry expertise, and broaden our geographic footprint.