Investing.com -- PJT Partners Inc . (NYSE:PJT) shares rose 14% following the announcement of fourth-quarter results that surpassed analyst expectations. The investment banking firm reported a record quarter with revenues reaching $477 million, a notable 45% increase compared to the same period last year. This surge was primarily attributed to a substantial rise in advisory fees, which soared by 49% to $434.5 million.
The company’s robust performance extended beyond top-line growth, with GAAP Pretax Income doubling to $103 million and Adjusted Pretax Income climbing to $107 million, both marking over 100% increases from the previous year. These impressive figures translated into a significant earnings per share (EPS) jump, with GAAP Diluted EPS at $1.83 and Adjusted EPS at $1.90, reflecting increases of 110% and 98%, respectively.
PJT Partners’ full-year results were equally striking, with total revenues for 2024 standing at $1.49 billion, up 29% from the previous year. This growth was fueled by increases across the board in strategic advisory, restructuring, and private capital solutions revenues. The firm also highlighted its disciplined capital management, indicating record cash and equivalents of $547 million at the end of the year, alongside a proactive share repurchase program.
The firm’s Chairman and CEO, Paul J. Taubman, expressed confidence in the company’s trajectory, emphasizing their commitment to expanding capabilities and delivering differentiated outcomes for clients. He also underscored the firm’s positive outlook on future growth prospects.
Investors reacted positively to the earnings release, driving the stock upward as the results not only beat consensus estimates but also demonstrated significant growth compared to the prior year. The company’s strategic initiatives and strong financial discipline appear to resonate with the market, positioning PJT Partners favorably as it moves into the next fiscal year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.