earnings
confidence high
sentiment positive
materiality 0.75
Lazard Q3 2021: record operating revenue $702M, adjusted EPS $0.98, GAAP EPS $0.94
Lazard, Inc.
2021-Q3 EPS reported
$2.78
revenue$2,260,975,000
- Third-quarter operating revenue $702M (record), up 23% YoY from $569M.
- Net income (adjusted) $111M ($0.98 EPS); GAAP net income $107M ($0.94 EPS).
- Financial Advisory revenue record $381M, up 24%; Asset Management revenue $311M, up 19%.
- Average AUM record $278B, up 23% YoY; period-end AUM $273B, down 2% QoQ on FX and net outflows.
- Board declared quarterly dividend $0.47/share, payable Nov 19 to holders of record Nov 8.