Quarterly ResultMay 4, 2026, 04:48 PM
Lazard Q1 Net Income +67% to $100.9M; EPS $0.98
AI Summary
Lazard reported strong financial results for the first quarter of 2026, with net income attributable to Lazard increasing by 67.2% to $100.9 million and basic earnings per share rising to $0.98. Total revenue grew 16.5% to $779.4 million, primarily driven by a 23.7% increase in asset management fees. The company also recognized a pre-tax gain of $78.0 million from the sale of a controlling stake in the Edgewater management vehicles.
Key Highlights
- Net income attributable to Lazard increased 67.2% to $100.9 million for Q1 2026.
- Basic earnings per share rose 60.7% to $0.98 for the three months ended March 31, 2026.
- Total revenue grew 16.5% to $779.4 million in Q1 2026, up from $669.2 million in Q1 2025.
- Asset management fees increased 23.7% to $327.3 million in Q1 2026.
- Investment banking and other advisory fees were $357.4 million in Q1 2026, a slight decrease from $360.4 million.
- Recorded a pre-tax gain of $78.0 million from the sale and deconsolidation of Edgewater management vehicles.
- Cash and cash equivalents stood at $1.02 billion as of March 31, 2026.
- Common stock dividends paid were $47.0 million for the quarter.