PJT Partners (NYSE:PJT) announced record-breaking financial results for the first quarter ended March 31, 2026, fueled by strong momentum across its advisory and restructuring businesses.
The firm posted total revenues of $418 million, representing a 29% increase from the prior-year period.
The investment bank saw a significant expansion in profitability during the quarter.
GAAP pretax income rose 53% to $80 million, while adjusted pretax income climbed 49% to $84 million.
On the bottom line, PJT reported record first-quarter GAAP diluted earnings per share of $2.21.
Adjusted EPS, a key measure of the firm’s operating performance, rose 47% to $1.54.
Meanwhile, the firm’s balance sheet remained a position of strength, ending the quarter with record cash, cash equivalents, and short-term investments totaling $388 million, with no funded debt.
This liquidity supported an aggressive capital return strategy, as PJT repurchased 1.6 million shares and share equivalents for a record $244 million during the first three months of the year.
Reflecting confidence in its long-term growth trajectory and cash-flow generation, the Board of Directors authorized a new $800 million Class A common stock repurchase program.