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Perella Weinberg Partners
Perella Weinberg Partners (PWP) investor relations material
Perella Weinberg Partners Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary1 May, 2026
Executive summary
Q1 2026 revenues were $148.9 million, down 30% year-over-year from a record Q1 2025, due to fewer fee-paying clients and lower transaction completions, but client engagement and pipeline are at multi-year highs.
Adjusted pre-tax income for Q1 2026 was $(3.3) million, with adjusted EPS of $0.05; GAAP pre-tax loss was $11 million and GAAP diluted EPS was $0.02.
Net loss attributable to shareholders was $1.5 million, compared to net income of $17.3 million in Q1 2025.
Significant acquisition of Gleacher Shacklock expands presence and capabilities in the UK and Europe; integration of Devon Park and ongoing senior talent additions.
Nearly $64 million was returned to equity holders through dividends and share repurchases, with a $0.07 per share quarterly dividend declared.
Financial highlights
Q1 2026 revenues: $148.9 million, including $10 million from early Q2 closings recognized in Q1.
Adjusted compensation margin was 79% of revenues, above the 67% target, due to lower revenues and timing of RSU vestings.
Adjusted non-compensation expense was $37.4 million, down 24% year-over-year, reflecting effective cost management.
Ended Q1 with $77.7 million in cash and no debt; declared a $0.07 per share quarterly dividend.
Q1 2026 GAAP net income attributable to shareholders was $1.5 million, down from $17.3 million in Q1 2025.
Outlook and guidance
Revenue is expected to be back half weighted in 2026, with a strong pipeline and high client engagement.
Compensation margin is expected to normalize to the historical 67% target by year-end as revenues build.
Management expects continued investment in platform scale, geographic and product diversification, and talent.
The acquisition of Gleacher Shacklock LLP is expected to close in the second half of 2026, pending regulatory approval.
No specific quarterly or annual revenue guidance provided, but management is confident in a strong progression through the year.
Reconcile revenue decline with record backlog
Strategic impact of Gleacher Shacklock deal
Fixed compensation growth impact on margins
Factors driving extended M&A deal timelines
Synergies expected from Gleacher Shacklock deal
Path to normalizing the compensation margin
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Latest events from Perella Weinberg Partners
- Acquisition of Gleacher Shacklock boosts UK M&A scale and strengthens global advisory leadership.PWP
Acquisition presentation14 Apr 2026 - Director elections, auditor ratification, and controlled governance define this year's proxy.PWPProxy filing10 Apr 2026
- Proxy statement outlines annual meeting proposals with no changes to capital structure.PWPProxy filing10 Apr 2026
- 2025 revenue fell 14%, but Q4 rebounded; strong capital, talent, and record 2026 pipeline.PWPQ4 202510 Apr 2026
- Record Q2 revenue, strong capital returns, but GAAP loss from one-time compensation charge.PWPQ2 20242 Feb 2026
- Q3 2024 revenue up 100% year-over-year, driven by strong M&A and capital returns.PWPQ3 202415 Jan 2026
- Record 2024 revenue of $878M, strong profitability, and robust capital returns achieved.PWPQ4 20248 Jan 2026
- Q1 2025 revenue rose 107% YoY to $211.8M, with strong returns to shareholders and profitability.PWPQ1 20258 Jan 2026
- Q2 2025 revenue dropped 43%, but profitability and strategic expansion support future growth.PWPQ2 20258 Jan 2026
Next Perella Weinberg Partners earnings date
Q2 202612 Aug, 2026
Perella Weinberg Partners
Next Perella Weinberg Partners earnings date
Q2 202612 Aug, 2026
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