Moelis & Company (MC) Tops Q3 EPS by 15c, Beat on Revenues

Moelis & Company (NYSE: MC) reported Q3 EPS of $0.57, $0.15 better than the analyst estimate of $0.42. Revenue for the quarter came in at $170 million versus the consensus estimate of $168.41 million.

• Third quarter revenues of $170.0 million, up 13% from the third quarter of 2016; first nine month revenues of $515.4 million, up 26% from the same period of 2016
• GAAP net income of $0.48 per share (diluted) for the third quarter and $1.51 per share (diluted) for the first nine months of 2017
• Adjusted net income of $0.57 per share (diluted) and $1.76 per share (diluted) for the third quarter and first nine months of 2017
• Strong balance sheet with cash and liquid investments of $243.7 million at quarter-end and no debt or goodwill
• Continued to execute on organic growth strategy
• Announced a Managing Director hire in Washington D.C. to expand Financial Institutions expertise with coverage of regional banks and non-bank lenders
• Hired five and internally promoted eight Managing Directors year to date in important regions, products and sectors

For earnings history and earnings-related data on Moelis & Company (MC) click here.

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