PJT Partners Posts Record Q2: Revenue Climbs 20%, EPS Jumps 37%, $760M Buyback Remains

summarizeSummary

PJT Partners posted record Q2 2026 results with revenues of $486M (+20% YoY) and GAAP diluted EPS of $1.66 (+37% YoY), driven by broad-based advisory strength. The firm repurchased 2.1M shares YTD and has $760M remaining on its buyback authorization.

check_boxKey Events · Earnings and Guidance · PJT

• Record Q2 Revenue and Earnings

  Q2 revenues hit $486.3M, up 20% YoY, with GAAP diluted EPS of $1.66, a 37% increase. First-half revenues reached $904.5M, up 24%.

• Margin Expansion

  GAAP pretax income rose 33% to $102.1M as compensation and benefits grew only 18%, improving the pretax margin to 21.0% from 18.8% a year ago.

• Strong Balance Sheet and Capital Return

  Cash and short-term investments stood at $535M with no funded debt. The company repurchased 2.1M shares YTD at an average price of $153.81, with $760M remaining under its authorization.

• Quarterly Dividend Declared

  Board declared a $0.25 per share quarterly dividend, payable September 16, 2026 to shareholders of record on September 2, 2026.

auto_awesomeAnalysis · PJT · Finance

PJT Partners delivered its strongest quarter ever, with revenues surging 20% to $486 million and GAAP diluted EPS jumping 37% to $1.66. The advisory-focused investment bank is firing on all cylinders — strategic advisory, private capital solutions, and restructuring all contributed to the record top line. Margins expanded as compensation costs grew slower than revenue, pushing pretax income up 33%. The balance sheet remains pristine with $535 million in cash and no funded debt, and the company bought back 2.1 million shares year-to-date, leaving $760 million in remaining authorization. This print reinforces the firm's ability to compound earnings through cycles, though the recent CFO departure announcement adds a layer of management transition risk to monitor.