PJT Partners Reports Strong Q1 Earnings and Expands Share Repurchase Program to $800M
PJT sits 20% above its 52-week low of $127.73.
Summary
PJT Partners Inc. reported strong first-quarter 2026 financial results, including a 29% increase in revenues and a 12% rise in net income attributable to the company, alongside the authorization of a new $800 million stock repurchase program.
Key Events · Earnings and Guidance · PJT
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Strong Q1 Financial Performance
Revenues for the first quarter of 2026 increased by 29% year-over-year to $418.2 million. Net income attributable to PJT Partners Inc. rose 12% to $60.5 million, with diluted EPS reaching $2.21, up from $1.99 in Q1 2025.
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Expanded Share Repurchase Program
The Board of Directors authorized a new $800 million Class A common stock repurchase program, replacing the previous $500 million authorization. The company repurchased $61.3 million of Class A common stock in Q1 2026 under the prior program.
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Positive Operating Cash Flow
Net cash provided by operating activities was $64.3 million for the three months ended March 31, 2026, a significant improvement from a net use of cash in the prior year period.
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Routine Quarterly Dividend Declared
A quarterly dividend of $0.25 per share of Class A common stock was declared, payable on June 17, 2026, to shareholders of record as of June 3, 2026.
Analysis · PJT · Finance
PJT Partners Inc. delivered robust first-quarter results, with significant year-over-year growth in revenues and net income, demonstrating strong operational performance. The company's decision to increase its share repurchase authorization to $800 million, replacing the prior $500 million program, signals confidence in its valuation and a commitment to returning capital to shareholders. This capital allocation strategy, combined with positive operating cash flow, reinforces a favorable outlook for the company's financial health and shareholder value.
At the time of this filing, PJT was trading at $152.74 on NYSE in the Finance sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $127.73 to $195.62. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.