secwatch.observer — SEC 8-K summary
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Issuer:     Lazard, Inc. (LAZ)
CIK:        0001311370
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0001628280-23-025805
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lazard Q2 revenue falls 8% to $620M; GAAP net loss $124M; adjusted EPS $0.24, down 74%
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- Q2 operating revenue $620M (-8% YoY); Financial Advisory $344M (-15%), Asset Management $267M (+1%)
- GAAP net loss $124M ($1.41 loss per share); adjusted net income $23M ($0.24 EPS, -74% YoY)
- AUM $239B, up 10% YoY and 3% sequentially; net outflows $1B, offset by market appreciation $8.8B
- Adjusted compensation ratio 68.4% (vs 58.5% YoY); non-comp ratio 23.2% (vs 19.4%)
- Declared quarterly dividend $0.50/share; H1 share repurchases 2.7M shares; remaining auth $203M

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1311370/000162828023025805/0001628280-23-025805-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1311370/000162828023025805/laz-20230727.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-025805

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