Moelis Q1 adj. revenue $185M (-38% YoY); adj. EPS $0.05 incl. $0.05 tax benefit; dividend $0.60

Moelis & Co

GAAP revenue $187.8M, down 38% YoY; GAAP diluted EPS $0.05 (incl. $0.05/share tax benefit).
Adjusted revenue $185.3M, down 38%; adjusted pre-tax margin 0.2% vs 29.2% a year ago.
Declared regular quarterly dividend of $0.60 per share, payable June 23, 2023 to holders of record May 8, 2023.
Appointed Jason Auerbach as Global Head of Technology IB, hired 10 additional tech-focused MDs.
Balance sheet: $170.3M cash & short-term investments, no debt or goodwill; repurchased 1.1M shares for $44.5M to settle tax liabilities.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Moelis & Co reported first quarter ended March 31, 2023 results: revenue $187.8 million, net income $3.6 million, EPS $0.05 per share (diluted).

Period: first quarter ended March 31, 2023
Revenue: $187.8 million
Net income: $3.6 million
EPS: $0.05 per share (diluted)
Result: reported results

Exact text from the filing

Moelis & Company (NYSE: MC) today reported financial results for the quarter ended March 31, 2023. The Firm's first quarter GAAP revenues were $187.8 million as compared with $302.1 million in the prior year period. On an Adjusted basis, the Firm’s first quarter revenues of $185.3 million decreased 38% from the prior year period. The Firm reported first quarter 2023 GAAP net income of $3.6 million and $0.05 per share (diluted).

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Source: SEC EDGAR

accession 0000950170-23-014825

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