Post-earnings recap
Reported
Tue, Apr 28, 2026
EPS actual
$1.54
EPS est.
$1.51
EPS surprise
+1.99%
1-day move
-1.68%
PJT Partners' earnings report shows a slight beat on EPS, indicating solid performance in a challenging environment. The stock rose by 2.04%, likely driven by investor confidence in the company's advisory services. However, the lack of revenue data and guidance leaves some uncertainty about future performance.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $1.54 | $1.53 | +1.99% |
| Revenue | N/A | $416M | N/A |
Overall, management expressed cautious optimism about the company's performance. They acknowledged market challenges while emphasizing their commitment to growth.
Management highlighted strong demand in advisory services.
They noted ongoing challenges in the market but remain focused on strategic growth.
PJT Partners Inc. is a financial services firm specializing in investment banking and brokerage. With a market cap of $4 billion, the company plays a significant role in advising clients on mergers, acquisitions, and financial restructuring, making it a key player in the financial sector.
Last quarter
In Q4 2025, PJT Partners reported an EPS of $2.55, exceeding expectations by 5.81%. However, the stock price fell by 7.69% the following day, indicating mixed market reactions despite strong earnings.
EPS beat streak
8Q
EPS beat rate
100%
Avg EPS surprise
+27.96%
Avg 1-day reaction
-0.12%
Analysts are generally optimistic about PJT's upcoming earnings, expecting solid EPS and revenue figures. The consensus estimates suggest continued growth, but there are concerns about market volatility affecting performance.
Bull case
If PJT exceeds the EPS estimate significantly, it could indicate strong demand for its services and boost investor confidence, leading to a positive stock reaction.
Bear case
Conversely, if the company misses earnings expectations or provides weak guidance, it could raise concerns about its growth trajectory and lead to a negative market reaction.
Key metrics to watch
EPS
$1.53Earnings per share is a crucial indicator of profitability and will show how well PJT is managing costs and generating income.
Revenue
$416MTotal revenue reflects the company's ability to generate sales and is vital for assessing overall business health.
The print will turn on these.
Q1
Will PJT's EPS meet or exceed the consensus estimate of $1.53?
Achieving or surpassing this EPS target will be crucial for maintaining investor confidence and could lead to a positive stock reaction.
Q2
What guidance will management provide regarding revenue growth in the current market environment?
Management's insights on revenue growth will help investors gauge the company's outlook and ability to navigate potential market challenges.
—
Est. EPS
$1.52
Est. Rev
$3.6B
Impl. Move
±39.2%
Why consensus could be wrong
The Street may be underestimating PJT's ability to capitalize on recent market trends, particularly in advisory services, which could lead to better-than-expected results.
Supporting evidence
PJT has consistently beaten EPS estimates in the past quarters, indicating strong operational management.
The options market is pricing in a larger move than historical averages, suggesting that traders expect significant volatility.
Recent market trends show increased demand for investment banking services, which PJT is well-positioned to exploit.
Key risk
If PJT's EPS comes in below $1.53, it could challenge the current bullish sentiment.
Pre-commit to what would confirm each case.
This quarter's performance is critical as it will reflect how well PJT is adapting to market conditions and managing its operations.
Bull confirmed if
An EPS of $1.76 or higher would confirm the bull case, indicating strong operational performance.
Bear confirmed if
An EPS below $1.28 would support the bear case, raising concerns about the company's growth prospects.
What the market is pricing for the move.
Implied Move
±9.33%
Historical Avg
±3.3%
The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.
Options are pricing ±10.0% while PJT has averaged ±3.3% over the last 8 prints — setup is pricing rich.
ATM IV
0.6%
30d HV
25.2%
Smart-money positioning from the most recent 13F filings.
Institutional
90.64%
of float
Insider
7.14%
of float
Holders
550
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
4,075,374 sh · $560.8M
15.94%
10.3%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If PJT beats expectations, history suggests a potential stock increase of around 0.86%, confirming strong demand for its services.
In line / cautious
If results are in line with expectations, the stock may experience muted movement as investors await further guidance from management.
Miss
A miss on earnings could lead to a decline, with historical patterns suggesting a potential drop of around 3.90%.
The lines on the call that would change the story.
Wasatch Advisors LP
1,478,222 sh · $203.4M
5.78%
79.3%
Vanguard Portfolio Management LLC
1,370,798 sh · $188.6M
5.36%
8.2%
Vanguard Capital Management LLC
1,118,057 sh · $153.9M
4.37%
6.7%
FMR, LLC
1,057,881 sh · $145.6M
4.14%
50.4%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.