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Lazard (LAZ)
NYSE:LAZ
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.63Last Year’s EPS
$0.66Same Quarter Last Year
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: 3.55%
|Next Earnings Date:Jan 30, 2025
Earnings Call Sentiment|Positive
The earnings call for Lazard's Q3 2024 reflected strong overall performance with significant revenue growth in both the Financial Advisory and Asset Management sectors. Despite challenges such as net outflows in Asset Management and geopolitical risks, the firm demonstrated robust growth in private capital revenue and employee engagement, indicating positive momentum towards future objectives.Company Guidance
During the Q3 2024 earnings call for Lazard (LAZ), the company provided optimistic guidance across its business segments. The firm reported a 24% increase in total firm-wide adjusted net revenue for the first nine months of 2024, reaching $2.1 billion. Specifically, Financial Advisory saw a 39% year-over-year increase to $1.2 billion, with significant contributions from restructuring and liability management. M&A activity is up over 20% year-to-date, supported by private equity interests. Asset Management's adjusted net revenue grew by 4% in Q3, with assets under management (AUM) reaching $248 billion, an 8% increase from the previous year. The firm anticipates a favorable operating environment, driven by potential rate cuts and increased private market activity, with plans to bring its compensation ratio to or below 60% by 2025. Lazard is actively investing in talent and technology, including AI tools, to sustain its growth trajectory.Strong Firm-wide Revenue Growth
Total firm-wide adjusted net revenue of $2.1 billion for the first 9 months of 2024, up 24% from 2023.
Financial Advisory Performance
Financial Advisory adjusted net revenue was $369 million for Q3, up 41% from a year ago, and $1.2 billion for the first 9 months of 2024, up 39%.
Private Capital Revenue Increase
Revenue associated with interactions with private capital up more than 50% compared to the same period last year.
Asset Management Revenue Growth
Third quarter adjusted net revenue was $272 million, up 4% compared to the third quarter last year.
Employee Engagement Improvement
Substantial improvement in employee engagement survey, with the best results achieved since launching these surveys.
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LAZ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LAZ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $50.26 | $52.54 | +4.54% |
| Jul 25, 2024 | $42.46 | $47.52 | +11.92% |
| Apr 25, 2024 | $38.04 | $37.64 | -1.05% |
| Feb 01, 2024 | $37.24 | $39.24 | +5.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Lazard (LAZ) report earnings?
Lazard (LAZ) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Lazard (LAZ) earnings time?
Lazard (LAZ) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LAZ EPS forecast?
LAZ EPS forecast for the fiscal quarter 2024 (Q4) is $0.63.
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