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AI compiled from Infoway · 3 analyzed stories

PJT: Q3 earnings fell YoY, while 9M and LTM revenue and adjusted earnings advanced

PJT reported that third-quarter revenue, GAAP pretax income and earnings per share declined year over year. For the nine-month and last-twelve-month periods, revenue grew, and adjusted pretax income and earnings per share were also higher. Capital returned since 2017 exceeded $2.2bn cumulatively.

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What happened

PJT Partners reported that third-quarter revenue, pre-tax income and earnings per share fell from a year earlier. It said fewer deals were completed. For the first nine months, revenue, pre-tax income and earnings per share reached records, and the company still expects record full-year results across its three businesses.

Global impact / market context

The weaker quarter shows that results can suffer when fewer deals close. The nine-month records and full-year expectation offer a more positive counterpoint, but do not remove that risk for investors.

What to watch

  1. Check whether more deals close in the next reported period, since fewer completions were linked to the third-quarter revenue decline.
  2. Check reported full-year revenue, pre-tax income and earnings per share against the company’s record-results expectation.
  3. Check whether the next report shows revenue, pre-tax income and earnings per share improving or continuing to fall year over year.

Affected assets

  • PJT Partners Inc.

Evidence