Overview
Moelis Q3 adjusted revenue rises 34% yr/yr, beating analyst expectations
Adjusted EPS for Q3 beats estimates, reflecting strong operational performance
Company repurchased 0.2 mln shares for $14.5 mln, maintaining strong balance sheet
Outlook
Moelis & Company did not provide specific financial guidance for future quarters
Result Drivers
HIGHER FEES - Increase in average fees earned per completed transaction in M&A and Capital Markets drove revenue growth
GROWTH STRATEGY - Continued execution on growth strategy with new Managing Director hires in M&A, Capital Markets, and Metals & Mining
INCREASED EXPENSES - Higher compensation and benefits expenses due to increased headcount and higher bonus accruals
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $356.89 mln | ||
Q3 Adjusted Revenue | Beat | $375.98 mln | $356.92 mln (7 Analysts) |
Q3 Adjusted EPS | Beat | $0.68 | $0.57 (9 Analysts) |
Q3 EPS | $0.67 | ||
Q3 Adjusted Net Income | Beat | $58.87 mln | $44.39 mln (5 Analysts) |
Q3 Net Income | $60.07 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 2 "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 Moelis & Co is $76.00, about 6.1% above its October 28 closing price of $71.33
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 25 three months ago
Press Release: ID:nBw4NdhQha
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@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.)