Perella Weinberg Partners (NASDAQ:PWP) announced second‑quarter adjusted earnings per share of $0.20, double the analyst consensus of $0.10, prompting the shares to climb 19.2% on Friday. Quarterly revenue was $157 million, slightly under the consensus estimate of $158.71 million but representing a 1% year‑over‑year increase from $155.3 million in Q2 2025. Adjusted compensation and benefits decreased to $98.8 million from $104.0 million in the prior year period, while adjusted non‑compensation expenses fell to $31.4 million from $36.4 million, resulting in an adjusted compensation margin of 63% of revenue. Chief Executive Officer and Chairman Andrew Bednar said, “Momentum continues to build across our business – the pace of our announced transactions has accelerated and our booked revenue plus announced and pending backlog stands well above the level this time last year.”
For the first half of 2026, total revenue amounted to $305 million, a 17% decline year‑over‑year from $367.1 million, driven by fewer large fee‑event closings and a lower average fee per client. Within the six‑month period, adjusted EPS was $0.25. M&A‑related revenue grew year‑over‑year, whereas financing and capital‑solutions activity fell. The firm continued its talent‑investment strategy, adding ten partners and eleven managing directors year‑to‑date, with six additional partners and three managing directors slated to join in the coming months. It also expects to close its acquisition of Gleacher Shacklock in the third quarter.
Perella Weinberg maintained a strong balance sheet, holding $115.8 million in cash and carrying no debt as of June 30 2026. During the first half of the year the company returned $72.7 million to equity holders through share settlements and dividends, and the Board declared a quarterly dividend of $0.07 per share.