Lazard FY2024 adjusted revenue +18% to $2.89B; adj EPS $2.34 vs $0.77; Q4 adj EPS $0.78

Lazard, Inc.

2024-FY EPS reported $2.68 revenue$3,139,904,000

Financial Advisory adjusted net revenue +28% to $1,731M in 2024 on higher M&A volume.
Asset Management adjusted revenue +3% to $1,100M; AUM $226B (-8% YoY) on net outflows of $10.1B in Q4.
Q4 dividend $0.50/share declared Jan 29, payable Feb 21, record Feb 10; $180M buyback authorization remains.
Aiming for 60% adjusted comp ratio in 2025 and 16-20% non-comp ratio; current comp ratio 65.9% for FY2024.
GAAP net income $280M vs $75M loss in 2023; includes $70M gain ($0.68/share) from office building sale.

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