Q3 2026 Houlihan Lokey Inc Earnings Call Transcript
Key Points
- Houlihan Lokey Inc (HLI) reported a 13% increase in revenues and an 18% increase in adjusted earnings per share compared to the same period last year.
- Corporate Finance revenues increased by 12% to $474 million, with a rise in both average fee and new business activity.
- Financial Restructuring revenues grew by 19% to $156 million, benefiting from accelerated transaction timelines.
- The company closed the acquisition of the real estate advisory business of Mellon Capital, enhancing its capital solutions capabilities.
- Houlihan Lokey Inc (HLI) announced an agreement for a controlling interest in Oder Partners, significantly enhancing its footprint in France.
- Financial Restructuring is expected to face revenue pressures as it adjusts to an improving market environment.
- The typical seasonal pattern in restructuring results is expected to reverse, with weaker fourth quarter results anticipated.
- Adjusted compensation expenses increased to $441 million, up from $390 million in the same period last year.
- Noncompensation expenses increased by 11% year-to-date, with expectations of continued growth in the fiscal fourth quarter.
- The company faces geopolitical uncertainties that could impact restructuring activity levels and overall market conditions.
Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Houlihan Lokey's third quarter fiscal year 2026 earnings conference call. (Operator Instructions) Please note that this conference call is being recorded today, January 28, 2026.
I will now turn the call over to the company.
Thank you, operator, and hello, everyone. By now, everyone should have access to our third quarter fiscal year 2026 earnings release, which can be found on the Houlihan Lokey website at www.hl.com in the Investor Relations section. Before we begin our formal remarks, we need to remind everyone that the discussion today will include forward-looking statements.
These forward-looking statements, which are usually identified by use of words such as will, expect, anticipate, should or other similar phrases are not guarantees of future performance. These statements are subject to numerous risks and uncertainties that could cause
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