Lazard Q3 revenue rallies 9% to $814 million

• Lazard reported third-quarter 2026 GAAP net revenue of $814 million, up 9% year over year, while net income declined 59% to $29 million.
• Adjusted earnings per share fell 36% to $0.36, missing analysts' $0.44 estimate, while reported revenue fell below expectations of $848.6 million.
• Lazard reported $284 billion in assets under management and declared a $0.50 quarterly dividend payable November 13, 2026.

Lazard (NYSE:LAZ) reported third-quarter 2026 GAAP net revenue of $814 million, up 9%, while net income declined 59% to $29 million.

Revenue missed analysts' $848.6 million estimate, while adjusted earnings per share of $0.36 fell below the $0.44 consensus forecast.

GAAP diluted earnings per share declined 60% to $0.26, while the adjusted compensation expense ratio increased to 69.9% from 65.5%.

Financial Advisory revenue increased 10% to $470 million, while Asset Management revenue rose 9% to $357 million.

Lazard declared a $0.50 quarterly dividend payable November 13, 2026.

Assets under management reached $284 billion at September 30, up 7% annually, despite $2.3 billion in quarterly net outflows.

For the first nine months, revenue increased 8% to $2.378 billion, net income declined 28% to $135 million, and shareholder returns totaled $366 million.