Earnings Releases·Nov 3, 2026, 8:07 AM ET

PJT Partners Inc. — Third Quarter 2026 Earnings Summary

Third quarter 2026 revenues declined 14% year-over-year to $385.1 million, driven by decreases in strategic advisory, restructuring, and private capital solutions, though nine-month revenues rose 9% to $1.29 billion; GAAP diluted EPS fell 22% to $1.15 for the quarter, while nine-month GAAP diluted EPS increased 7% to $5.02.
Management remains highly confident in future growth prospects and continues to invest in technology, global footprint expansion, and capabilities, citing elevated non-compensation expenses due to these strategic initiatives and higher market data and travel costs.
The company returned capital through the repurchase of 2.3 million shares during the nine months at an average price of $154.07, leaving $739 million in remaining authorization, and declared a quarterly dividend of $0.25 per share payable in December 2026.
PJT Partners maintains a strong balance sheet with $766 million in cash, cash equivalents, and short-term investments and no funded debt as of September 30, 2026, while planning to exchange 75,000 Partnership Units for cash subject to Board approval.