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Get filing alertsPJT Partners reports record Q2 revenues of $486M (+20% YoY) and diluted EPS of $1.66 (+37%)
Filed July 28, 2026 · Period ending July 28, 2026 · ~1 min read
Key Changes
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Q2 2026 revenues reached $486M, up 20% year-over-year, driven by growth across strategic advisory, private capital solutions, and restructuring. GAAP diluted EPS rose 37% to $1.66.
Exhibit 99.1 view on EDGAR → -
high
First half 2026 revenues totaled $904M (+24% YoY) with GAAP diluted EPS of $3.87 (+21%). Adjusted EPS was $3.51, up 36% from prior year.
Exhibit 99.1 view on EDGAR → -
high
Company held record cash and short-term investments of $535M with no funded debt at quarter-end. Repurchased 2.1M shares in H1 2026 at average price of $153.81, with $760M remaining under authorization.
Exhibit 99.1 view on EDGAR → -
medium
Board declared quarterly dividend of $0.25 per Class A share, payable September 16, 2026 to stockholders of record as of September 2, 2026.
Exhibit 99.1 view on EDGAR → -
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Compensation ratio improved to 67.0% in Q2 2026 from 68.0% in Q2 2025, as compensation expense increased with higher revenues but was partially offset by a lower accrual rate.
Exhibit 99.1 view on EDGAR →
Summary
PJT Partners delivered strong second quarter and first half 2026 results, with record revenues driven by broad-based growth across its advisory businesses. The 20% year-over-year revenue increase in Q2 and 24% growth for the first half demonstrate robust demand for the firm's strategic advisory, private capital solutions, and restructuring services.
The 37% jump in Q2 diluted EPS to $1.66 reflects both top-line strength and improved operating leverage, with the compensation ratio declining 100 basis points year-over-year to 67.0%. The company's balance sheet remains exceptionally strong, with record cash and short-term investments of $535 million and zero funded debt.
Management returned capital aggressively in the first half, repurchasing 2.1 million shares at an average price of $153.81 while maintaining $760 million in remaining buyback authorization. The quarterly dividend of $0.25 per share continues the firm's consistent capital return program. For PJT shareholders, these results validate the firm's positioning in a recovering M&A and restructuring environment, with strong profitability and disciplined capital allocation supporting the investment case.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
PJT Partners announced Q2 2026 financial results via press release on July 28, 2026.
Added in current filing · verify on EDGAR →
On July 28, 2026, PJT Partners Inc. (the “Company”) issued a press release announcing the financial results for its second quarter and six months ended June 30, 2026.
PJT Partners disclosed its financial results for the second quarter and first half of 2026 through a press release. The 8-K itself does not contain the actual financial figures; those are in the attached Exhibit 99.1 press release, which is furnished rather than filed.
Event · Exhibit 99.1
PJT Partners reported record Q2 2026 revenues of $486M (+20% YoY), pretax income of $102M (+33%), and diluted EPS of $1.66 (+37%).
Added in current filing · view on EDGAR →
Revenues of $486 million, an increase of 20% from a year ago
– GAAP Pretax Income of $102 million and Adjusted Pretax Income of $106 million, increases of 33% and 32%, respectively, from a year ago
– GAAP Diluted EPS of $1.66 and Adjusted EPS of $1.97, increases of 37% and 28%, respectively, from a year ago
PJT Partners delivered record second quarter results with revenues of $486 million, up 20% year-over-year, driven by increases in strategic advisory, private capital solutions, and restructuring revenues. GAAP pretax income rose 33% to $102 million, while GAAP diluted EPS increased 37% to $1.66. The company's adjusted pretax income was $106 million (up 32%) and adjusted EPS was $1.97 (up 28%).
Added in current filing · view on EDGAR →
Revenues of $904 million, an increase of 24% from a year ago
– GAAP Pretax Income of $182 million and Adjusted Pretax Income of $189 million, increases of 41% and 39%, respectively, from a year ago
– GAAP Diluted EPS of $3.87 and Adjusted EPS of $3.51, increases of 21% and 36%, respectively, from a year ago
For the six months ended June 30, 2026, PJT Partners reported record revenues of $904 million, up 24% year-over-year. GAAP pretax income increased 41% to $182 million, and GAAP diluted EPS rose 21% to $3.87. Adjusted pretax income was $189 million (up 39%) and adjusted EPS was $3.51 (up 36%).
Added in current filing · view on EDGAR →
GAAP Compensation and Benefits Expense was $326 million and $606 million for the three and six months ended June 30, 2026, respectively, and $277 million and $498 million for the three and six months ended June 30, 2025, respectively. ... The increases in Compensation and Benefits Expense were driven by higher revenues compared with prior year, partially offset by a lower accrual rate.
Compensation and benefits expense increased to $326 million in Q2 2026 (from $277 million in Q2 2025) and to $606 million for the first half (from $498 million), driven by higher revenues but partially offset by a lower accrual rate. As a percentage of revenues, the compensation ratio improved to 67.0% in Q2 2026 from 68.0% in Q2 2025.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 29, 2026 · How we verify