PJT Partners Inc. (NYSE:PJT) delivered strong second-quarter results on Tuesday, surpassing analyst expectations and setting a new revenue record, fueled by robust growth in its strategic advisory business.
The firm reported adjusted earnings of $1.54 per share for the quarter, beating the consensus estimate of $1.36. Revenue climbed to $406.9 million, outpacing forecasts of $379.17 million and marking a 13% increase compared to the same period last year.
The solid performance was led by a 15% year-over-year rise in strategic advisory fees, which totaled $354.5 million. This strength more than compensated for an 8% decline in placement fees. Adjusted pretax income reached $80.1 million, up 22% from the prior year’s second quarter.
“Our firm delivered record setting second quarter and first half results,” said Paul J. Taubman, Chairman and Chief Executive Officer. “We continue to invest for the long term as we build a firm grounded in excellence, integrity, and an unwavering commitment to client service. As before, we remain highly confident in our future growth prospects.”
As of June 30, PJT Partners held $318 million in cash and short-term investments and reported no funded debt. During the quarter, the company repurchased 642,000 shares and share equivalents at an average price of $136.43. That brought total buybacks for the first half of 2025 to 2.1 million shares, purchased at an average of $154.63.
The company’s Board of Directors declared a quarterly dividend of $0.25 per share on its Class A common stock, payable on September 17 to shareholders of record as of September 3.
For the first six months of 2025, PJT reported total revenue of $731.4 million, a 6% increase from the same period in 2024. Adjusted earnings per share rose 19% year over year to $2.59.
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