---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-035178"
form_type: "8-K"
ticker: "LAZ"
cik: "0001311370"
company_name: "Lazard, Inc."
filed_at: "2023-10-26T23:59:59+00:00"
generated_at: "2026-06-09T08:07:19.445993+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lazard Q3 adjusted EPS $0.10, revenue down 27% YoY; plans C-corp conversion

## Summary
- Adjusted net income $10M ($0.10/diluted); GAAP net income $7M ($0.06).
- Financial Advisory revenue $261M, down 42% YoY; Asset Mgmt revenue $262M flat.
- AUM $228B (+15% YoY); net outflows $2.0B in Q3.
- Converting to U.S. C-corp effective Jan 1, 2024; expects low single-digit tax rate increase.
- Q4 dividend $0.50/share; YTD returned $285M to shareholders ($102M buybacks).

## SEC filing metadata
- accession: 0001628280-23-035178
- form_type: 8-K
- ticker: LAZ
- cik: 0001311370
- company_name: Lazard, Inc.
- filed_at: 2023-10-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1311370/000162828023035178/0001628280-23-035178-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1311370/000162828023035178/laz-20231026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-035178
- JSON: https://secwatch.observer/filing/0001628280-23-035178.json
- Plain text: https://secwatch.observer/filing/0001628280-23-035178.txt

## Key facts
- Earnings Releases
  Lazard, Inc. reported first nine months of 2023 results: revenue $1,679 million, net income $10 million, EPS $0.10 per share, diluted.
  - Period: first nine months of 2023
  - Revenue: $1,679 million
  - Net income: $10 million
  - EPS: $0.10 per share, diluted
  - Result: reported results
  source text: 5 of this release. A reconciliation of adjusted GAAP to U.S. GAAP is on pages 13-14. 1 OPERATING REVENUE Operating revenue was $532 million for the third quarter of 2023, and $1,679 million for the first nine months of 2023, 27% and 20% lower, respectively, from the comparable 2022 periods. Financial Advisory For the third quarter of 2023, Financial Advisory
  evidence_url: https://www.sec.gov/Archives/edgar/data/1311370/000162828023035178/0001628280-23-035178-index.htm
- Earnings Releases
  Lazard, Inc. reported third quarter ended September 30, 2023 results: revenue $532 million, net income $10 million, EPS $0.10 per share, diluted.
  - Period: third quarter ended September 30, 2023
  - Revenue: $532 million
  - Net income: $10 million
  - EPS: $0.10 per share, diluted
  - Result: reported results
  source text: Lazard Ltd (NYSE: LAZ) today reported operating revenue 1 of $532 million for the quarter ended September 30, 2023. Net income, as adjusted 2 , was $10 million, or $0.10 per share, diluted, for the quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1311370/000162828023035178/0001628280-23-035178-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.