secwatch.observer — SEC 8-K summary
======================================

Issuer:     Lazard, Inc. (LAZ)
CIK:        0001311370
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001628280-23-013734
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lazard Q1 2023: operating revenue $527M (-25% YoY), net loss $0.27/sh
---------------------------------------------------------------------

- GAAP net loss $22M ($0.27 diluted EPS) vs. profit $114M ($1.05) in Q1 2022.
- Operating revenue $527M, down 25% YoY; Financial Advisory -29%, Asset Management -15%.
- Cost-saving initiatives cutting ~10% of workforce; $21M charge in Q1, ~$95M more expected.
- AUM $232B, up 7% from Dec 31, 2022; net inflows $3.0B including $3.9B from wealth mgmt acquisition.
- Quarterly dividend $0.50/sh declared; $187M returned to shareholders in Q1 including $99M buybacks.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1311370/000162828023013734/0001628280-23-013734-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1311370/000162828023013734/laz-20230428.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-013734

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer