New York-based PJT Partners (NYSE:PJT) today reported record financial results for the fourth quarter and full year ended December 31, 2025, driven by strong performance across its advisory businesses.
Fourth-quarter revenues reached $535 million, increasing 12% from the year-ago period.
GAAP pretax income was $123 million and adjusted pretax income was $127 million, both up 19% year-over-year.
GAAP diluted earnings per share were $1.97, up 8%, while adjusted EPS rose 34% to $2.55.
For the full year, revenues totaled $1.71 billion, up 15% from 2024.
GAAP pretax income increased 27% to $343 million, and adjusted pretax income rose 28% to $357 million.
GAAP diluted EPS grew 36% to $6.68, and adjusted EPS increased 39% to $6.98.
The record performance reflects robust activity in strategic advisory, restructuring, and capital markets services amid favorable market conditions for dealmaking and liability management.