PJT Partners Reports 20% Revenue Growth to $486.3 Million in Q2 2026

PJT Partners Inc. reported significant financial growth in its latest quarterly results, with revenues reaching $486.3 million for the three months ended June 30, 2026, a 20% increase from $406.9 million in the same period last year. For the first half of 2026, total revenues amounted to $904.5 million, up 24% from $731.4 million in the first half of 2025. The increase in revenue was attributed to higher strategic advisory, private capital solutions, and restructuring revenues. Net income for the second quarter was $81.3 million, a 32% rise compared to $61.4 million in the prior year, while net income attributable to PJT Partners Inc. increased by 39% to $45.8 million.

The company experienced a notable rise in expenses, which totaled $384.2 million for the second quarter, reflecting an increase of 16% from $330.4 million in the same quarter of 2025. This rise was primarily driven by higher compensation and benefits costs, which increased by 18% to $325.6 million, as well as increases in travel, professional fees, and occupancy-related expenses. For the first half of 2026, total expenses were $722.0 million, a 20% increase from $602.4 million in the same period last year. The increase in expenses was largely due to the expansion of the company's global office footprint and elevated business activity.

PJT Partners has also made strategic moves to enhance its operational capabilities. The company announced a new $800 million share repurchase program in April 2026, replacing a previous $500 million program. As of June 30, 2026, the remaining repurchase authorization was $759.6 million. During the first half of 2026, the company repurchased 0.8 million shares at an average price of $150.29 per share. Additionally, the company has been actively managing its workforce, with a total employee count that reflects its commitment to attracting and retaining top talent in the advisory sector.

Geographically, the company reported that revenues from the United States accounted for $379.1 million in the second quarter, while the United Kingdom contributed $87.5 million. The company’s total assets decreased to $1.76 billion as of June 30, 2026, down from $1.84 billion at the end of 2025, primarily due to a reduction in cash and cash equivalents. The company’s cash and cash equivalents stood at $235.5 million, a decrease from $538.9 million at the end of the previous fiscal year.

Looking ahead, PJT Partners remains optimistic about its growth trajectory, citing favorable conditions in the capital markets and M&A environment. The company anticipates continued demand for its advisory services, particularly in restructuring and private capital solutions, despite potential macroeconomic challenges. The management emphasized that while the current market sentiment is positive, it remains vigilant to changes that could impact strategic activity in the future.