Post-earnings recap
Reported
Tue, Jul 28, 2026
EPS actual
$1.97
EPS est.
$1.65
EPS surprise
+19.39%
1-day move
+2.61%
PJT Partners Inc. reported better-than-expected earnings per share, which likely contributed to the stock's positive reaction of 2.61%. However, revenue figures were not disclosed, leaving some uncertainty about overall performance. Investors may view the EPS beat as a sign of strong management and operational efficiency.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $1.97 | $1.86 | +19.39% |
| Revenue | N/A | $474M | N/A |
No transcript is on record, and the analysis is based on numerical results only.
PJT Partners Inc. is a financial services firm specializing in investment banking and brokerage. With a market cap of $5 billion, it plays a significant role in advising clients on mergers, acquisitions, and capital raising, which are critical in today's fluctuating economic environment.
Last quarter
In Q1-2026, PJT reported an EPS of $1.54, slightly beating estimates. However, the stock experienced a decline of 1.68% the following day, indicating market caution despite the positive earnings surprise.
EPS beat streak
8Q
EPS beat rate
100%
Avg EPS surprise
+27.96%
Avg 1-day reaction
-0.12%
Analysts expect PJT to report solid earnings this quarter, with a consensus EPS of $1.86 and revenue of $474 million. The options market suggests a significant potential price movement following the earnings release.
Bull case
If PJT exceeds the EPS estimate, it could signal strong demand for its services and lead to a positive stock reaction, continuing its trend of beating earnings expectations.
Bear case
Conversely, if the company falls short of expectations, it may raise concerns about its growth trajectory and the overall health of the investment banking sector, potentially leading to a sharp decline in stock price.
Key metrics to watch
EPS
$1.86Earnings per share (EPS) is a key indicator of profitability, and investors will be keen to see if PJT can meet or exceed expectations.
Revenue
$474MTotal revenue reflects the company's ability to generate income from its services, which is crucial for assessing overall performance.
The print will turn on these.
Q1
Will PJT's EPS exceed the consensus estimate of $1.86?
A beat on EPS could reinforce investor confidence in the company's growth and profitability, potentially leading to a positive stock reaction.
Q2
What commentary will management provide on revenue growth and market conditions?
Insights into revenue performance and market dynamics will be crucial for understanding the company's future prospects and could heavily influence investor sentiment.
—
Est. EPS
—
Est. Rev
—
Impl. Move
±3.5%
Why consensus could be wrong
The consensus may underestimate PJT's ability to capitalize on recent market opportunities, particularly in advisory services, which could lead to stronger-than-expected revenue growth.
Supporting evidence
PJT has consistently beaten EPS estimates in the past quarters, indicating potential for continued strong performance.
The options market is pricing in a larger move than historical averages, suggesting that investors expect significant volatility.
Recent trends in M&A activity could provide a tailwind for PJT's advisory services, which may not be fully reflected in current estimates.
Key risk
If advisory revenue significantly outpaces expectations, it could challenge the current consensus view.
Pre-commit to what would confirm each case.
The market is debating whether PJT can maintain its growth trajectory in a competitive investment banking landscape.
Bull confirmed if
An EPS of $1.90 or higher would confirm the bullish case, indicating strong operational performance.
Bear confirmed if
An EPS below $1.70 would support the bearish case, raising concerns about the company's profitability.
What the market is pricing for the move.
Implied Move
±15.83%
Historical Avg
±3.3%
The options market is pricing in a significant potential price movement, suggesting that investors are anticipating volatility around the earnings announcement.
Options are pricing ±15.8% while PJT has averaged ±3.3% over the last 8 prints — setup is pricing rich.
ATM IV
0.4%
30d HV
21.5%
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 the stock could see a modest increase, confirming the company's strong performance.
In line / cautious
If results are in line with expectations, the stock may remain stable, but cautious commentary could lead to a slight decline.
Miss
A miss on earnings could lead to a significant drop, as seen in past quarters, where the average reaction was negative.
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.