Lazard Q1 2024: record adjusted net revenue; EPS $0.66 vs $0.26 loss YoY

Lazard, Inc.

2024-Q1 EPS reported $0.35 revenue$785,481,000

GAAP net revenue $765M (+41% YoY); adjusted net revenue $747M (+42% YoY).
GAAP net income $36M ($0.35 diluted); adjusted net income $67M ($0.66 diluted).
Financial Advisory adj. net revenue $447M (+63% YoY); Asset Management adj. net revenue $276M (+4%).
AUM $250B (+8% YoY); issued $400M of 6.0% Senior Notes due 2031.
Declared $0.50 quarterly dividend payable May 17; repurchased 0.6M shares at avg $38.97.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Lazard, Inc. reported first quarter ended March 31, 2024 results: revenue net revenue of $765 million and adjusted net revenue 1 of $747 million, net income net income was $36 million or $0.35 per share, diluted. Adjusted net income 2 was $67 million, or $0.66 per share, dilut.

Period: first quarter ended March 31, 2024
Revenue: net revenue of $765 million and adjusted net revenue 1 of $747 million
Net income: net income was $36 million or $0.35 per share, diluted. Adjusted net income 2 was $67 million, or $0.66 per share, dilut
Result: reported results

Exact text from the filing

Advisory adjusted net revenue • Asset Management quarter end AUM increased 8% year-over-year NEW YORK, April 25, 2024 – Lazard, Inc. (NYSE: LAZ) today reported net revenue of $765 million and adjusted net revenue 1 of $747 million for the quarter ended March 31, 2024. On a U.S. GAAP basis, first-quarter 2024 net income was $36 million or $0.35 per share, diluted.

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Source: SEC EDGAR

accession 0001628280-24-017811

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