PJT Partners Inc. (NYSE:PJT) reported record-setting fourth-quarter results on Tuesday, with earnings and revenue both coming in ahead of market expectations.
The advisory-focused investment bank posted adjusted earnings of $2.55 per share for the quarter, beating analysts’ forecasts of $2.38. Revenue reached $535 million, slightly above the consensus estimate of $533.21 million.
Quarterly revenue rose 12% year on year, supported by a 9% increase in advisory fees and a sharp 64% surge in placement fees. Adjusted pretax income for the period climbed 19% to $127 million.
Despite the strong results, shares of PJT Partners Inc. slipped 0.89% in pre-market trading, a muted reaction that suggested much of the performance had already been priced in.
“2025 was a year of record setting performance across the board with record Revenues, record Adjusted Pretax Income and record Adjusted EPS,” said Paul J. Taubman, Chairman and Chief Executive Officer. “This strong performance reflects our sustained investment in building the best advisory-focused firm.”
For the full year 2025, PJT Partners reported revenue of $1.71 billion, up 15% from 2024, while adjusted earnings per share jumped 39% to $6.98.
The firm also continued to expand its workforce. Partner headcount increased 12% to 133 during the year, while total firm-wide headcount rose 7% to 1,224. PJT Partners ended 2025 with $586 million in cash and no funded debt.
In addition, the board declared a quarterly dividend of $0.25 per share on Class A common stock, payable on March 18, 2026, to shareholders on record as of March 4, 2026.