PJT Partners Q3 revenue misses estimates on restructuring

PJT Partners

03/11/2026 11:59

Overview
U.S. investment bank's Q3 revenue fell 14% and missed analyst expectations
Adjusted EPS for Q3 declined 24% and missed analyst expectations
Company repurchased 2.3 mln shares through September 30, 2026

Outlook
PJT Partners did not provide specific financial guidance for the current quarter or full year in the press release

Result Drivers
REVENUE DECLINE DRIVERS - Q3 revenue fell due to decreases in strategic advisory, restructuring, and private capital solutions revenues, partially offset by higher primary fundraising revenues
NON-COMPENSATION EXPENSES - Q3 non-compensation expenses rose, driven by investments in technology infrastructure, higher market data costs, global office expansion, and increased travel and business activity

Company press release: ID:nBw31Mzzya

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$385.10 mln
$431.53 mln (6 Analysts)
Q3 Adjusted EPS
Miss
$1.41
$1.50 (6 Analysts)
Q3 Pretax Profit
 
$68.80 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the investment banking & brokerage services peer group is "buy."
Wall Street's median 12-month price target for PJT Partners Inc. is $171.00, about 11.3% above its November 2 closing price of $153.58
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads
Nov 3 - Apollo Global misses Q3 revenue estimates, declares dividend
Nov 2 - Investment manager Pershing Square's Q3 revenue falls
Nov 3 - Patria Investments Q3 adjusted EPS beats expectations

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.)