Greenhill & Co. (GHL) Tops Q4 EPS by 56c

Greenhill & Co. (NYSE: GHL) reported Q4 EPS of $1.05, $0.56 better than the analyst estimate of $0.49. Revenue for the quarter came in at $106.7 million versus the consensus estimate of $83.91 million.

"Our strong fourth quarter and second half performance resulted in respectable full year results on the top and bottom line. We are particularly pleased at the growing diversity of our revenue sources, with our recently enlarged restructuring business clearly becoming a third major revenue generator alongside our 24 year old M&A franchise and substantial capital advisory business. The moderate full year decline in total revenue versus last year\'s particularly strong figure reflects an industry wide decline in M&A activity and an unusually soft year for us in Europe, where our current book of assignments foreshadows a very substantial rebound this year. We have continued to aggressively repurchase shares given our view that the market is underestimating our earnings potential and given that our valuation multiple is below that of our peers and far below its historic level. In addition, throughout the year we invested in the longer term development of our Firm, adding several important recruits, announcing two new offices and increasing global investment banking headcount by 11%,\" Scott L. Bok, Chairman and Chief Executive Officer, commented.

For earnings history and earnings-related data on Greenhill & Co. (GHL) click here.

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