PJT Partners (PJT) Tops Q1 EPS by 26c

PJT Partners (NYSE: PJT) reported Q1 EPS of $0.71, $0.26 better than the analyst estimate of $0.45. Revenue for the quarter came in at $200.2 million versus the consensus estimate of $165.89 million.

COVID-19 Impact on Operations and Outlook

The vast majority of our employees have been working remotely since mid-March and we are prepared to operate in this manner for the foreseeable future, if necessary. There have been no material changes to our internal controls as a result of this new working environment.
The Company’s financial condition is strong. We have substantial cash balances, currently have no debt, and have not identified any impairments. We also maintain access to our $40 million line of credit facility. While we currently have not experienced a material decline in the demand for our services, we believe COVID-19’s impact on our business, financial performance and operating results will be significantly driven by a number of factors that we are unable to predict or control, such as the severity and duration of the pandemic and the impact on the U.S. and global economies. These external factors could have a material effect on our financial performance and operating results going forward.

For earnings history and earnings-related data on PJT Partners (PJT) click here.

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