Moelis & Company

Latest Results (15.05.2026):

Moelis & Company reported results for the first quarter of 2026: record first-quarter revenues of $319.8 million (up 4% year-over-year) and GAAP net income of $42.3 million, or $0.48 diluted EPS; Adjusted net income was $43.1 million, or $0.50 diluted EPS. The firm cited record announced transaction activity and a strong pipeline as supportive of continued performance.

Revenue

Revenues were $319.8 million in Q1 2026, a 4% increase versus Q1 2025, driven by higher Private Capital Advisory and M&A revenues, partially offset by declines in Capital Structure Advisory and Capital Markets.

Earnings & EPS

GAAP net income was $42.3 million (diluted EPS $0.48). Adjusted net income was $43.1 million (diluted EPS $0.50). Both GAAP and Adjusted results include an approximately $0.11 per-share tax benefit tied to settlement of share‑based awards.

Margins

Adjusted pre-tax margin improved to 15.0% in Q1 2026 from 14.0% a year earlier; operating income (GAAP) was $40.5 million for the quarter.

Expenses

Total GAAP operating expenses were $279.3 million (87.3% of revenues). Compensation and benefits were $210.4 million (65.8% of revenues), slightly down year-over-year. Non‑compensation expenses rose to $68.9 million (21.5% of revenues), driven by higher deal-related, communications and technology costs.

Taxes & Adjustments

The quarter included a net tax benefit (~$9.2 million) from share‑based award settlements; excluding that discrete item, the firm said the effective tax rate would have been about 29.3%. Moelis’ Adjusted results assume a 10.0% corporate effective tax rate for comparability.

Capital Management & Shareholder Returns

Moelis held $353.7 million in cash and short-term investments and reported no debt. The Board declared a regular quarterly dividend of $0.65 per share. In Q1 2026 the firm repurchased 1.9 million shares for $117.3 million (including a record 0.9 million open‑market repurchases at an average $59.78), and including the declared dividend it returned $171.4 million to shareholders for the quarter.

Growth & Talent

The firm continues hiring to execute its growth strategy: since the prior release two Managing Directors (private credit secondaries and Healthcare) joined, and six additional Managing Directors are committed to join across Capital Markets, London (Chemicals & Sponsors), Energy and Private Capital Advisory.