Houlihan Lokey Posts $109M Net Income for Fiscal Q2
HLI sits 22% above its 52-week low of $112.83.
Summary
Houlihan Lokey reported $109 million of net income for its fiscal second quarter, with revenue of $692 million, EPS of $1.64 and adjusted EPS of $1.85. The results beat estimates on higher transaction fees. The comparison point is ugly: the 10-Q filed July 31 showed Q1 revenue down 16% and net income down 20% year over year, with operating cash flow worsening. A $109M net figure against a roughly $9.6B market cap is a meaningful chunk of earnings power.
At the time of this announcement, HLI was trading at $137.38 on NYSE in the Finance sector, with a market capitalization of approximately $9.6B. The 52-week trading range was $112.83 to $204.18. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.