Q1 2025 Houlihan Lokey Inc Earnings Call Transcript
Key Points
- Revenues for the first quarter of fiscal 2025 were $514 million, up 24% compared to the same quarter last year.
- Adjusted earnings per share increased by 37% to $1.22.
- Corporate Finance revenues reached $328 million, marking a 45% increase and the highest first-quarter corporate finance revenues ever.
- The acquisition of Triago expanded private funds capabilities, adding seven managing directors and positioning the company as a holistic adviser across products and geographies.
- The company added 27 new managing directors in the quarter, indicating strong hiring and talent acquisition.
- Financial Restructuring revenues decreased by 5% to $117 million compared to the same period last year.
- Adjusted compensation expenses increased to $316 million from $256 million in the same period last year.
- The average transaction fee on closed deals in the Financial Restructuring business decreased.
- The adjusted effective tax rate increased to 31.2% from 29.2% in the same quarter last year.
- The company's cash position declined due to significant bonus payments and share repurchases.
(technical difficulty) I will now turn the call over to the company.
Thank you, operator, and hello, everyone. By now, everyone should have access to our first quarter fiscal year 2025 earnings release, which can be found on the Houlihan Lokey website at www.hl.com in the Investor Relations section.
Before we begin our formal remarks, we need to remind everyone that the discussion today will include forward-looking statements. These forward-looking statements, which are usually identified by use of words such as will, expect, anticipate, should or other similar phrases are not guarantees of future performance.
These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect and therefore, you should exercise caution when interpreting and relying on them. We refer all of you to our recent SEC filings for a more detailed discussion of the risks that
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