Moelis Q4 revenue up 6% but posts adjusted net loss $0.06/share; full year revenue down 11%

Moelis & Co

Q4 GAAP revenues $214.9M (+4% YoY); Adjusted revenues $214.9M (+6% YoY).
Q4 GAAP net loss $6.5M ($0.08 loss per share); Adjusted net loss $4.8M ($0.06 loss per share) vs prior year profit.
Full year GAAP revenues $854.7M (-13% YoY); Adjusted revenues $860.1M (-11% YoY). GAAP net loss $27.5M ($0.36 loss per share).
Board declared regular quarterly dividend of $0.60 per share, payable March 28, 2024 to holders of record Feb 20, 2024.
Hired 24 Managing Directors in 2023; added 10 more since Jan 2024. Balance sheet: $349.3M cash, no debt/goodwill.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Moelis & Co reported the fourth quarter ended December 31, 2023 results: revenue $214.9 million, net income $6.5 million, EPS $0.08 per share.

Period: the fourth quarter ended December 31, 2023
Revenue: $214.9 million
Net income: $6.5 million
EPS: $0.08 per share
Result: reported results

Exact text from the filing

The Firm's fourth quarter GAAP revenues were $214.9 million as compared with $207.2 million in the prior year period. On an Adjusted basis, the Firm’s fourth quarter revenues of $214.9 million increased 6% from the prior year period. The Firm reported a GAAP net loss of $6.5 million and $0.08 per share for the fourth quarter of 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Moelis & Co reported the year ended December 31, 2023 results: revenue $854.7 million, net income $27.5 million, EPS $0.36 per share.

Period: the year ended December 31, 2023
Revenue: $854.7 million
Net income: $27.5 million
EPS: $0.36 per share
Result: reported results

Exact text from the filing

The Firm's full year 2023 GAAP revenues were $854.7 million. On an Adjusted basis, the Firm's full year 2023 Adjusted revenues of $860.1 million decreased 11% from the prior year. The Firm reported a GAAP net loss of $27.5 million, or $0.36 per share for full year 2023.

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Source: SEC EDGAR

accession 0000950170-24-012213

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