Lazard Q1 revenue beats estimates

Lazard

01/05/2026 11:47

Overview

US financial advisory and asset manager's Q1 revenue rose 17%, beating analyst expectations

Adjusted EPS for Q1 fell, missing analyst expectations

Company agreed to acquire Campbell Lutyens to expand advisory business

Outlook

Lazard expects Campbell Lutyens acquisition to add about $500 mln in combined 2027 revenue

Company says outlook for M&A activity is optimistic

Result Drivers

ASSET MANAGEMENT GROWTH - Asset Management adjusted net revenue rose 17% year-over-year, driven by positive net inflows of $9 bln and higher management fees

M&A TIMING - Financial Advisory revenue declined due to the timing of transactions, according to the company

HIGHER COMPENSATION COSTS - Adjusted compensation ratio rose to 69.9% from 65.5% a year earlier, reflecting increased compensation and benefits expenses

Company press release: ID:nPnhNkDza

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$757 mln
$719.50 mln (6 Analysts)
Q1 Adjusted EPS
Miss
$0.42
$0.51 (9 Analysts)
Q1 Assets Under Management
$259 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the investment management & fund operators peer group is "buy."

Wall Street's median 12-month price target for Lazard Inc is $49.50, about 2.1% above its April 30 closing price of $48.50

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)