Lazard

Lazard Ltd. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients, an array of financial advisory services regarding mergers and acquisitions, restructurings, capital structure, capital raising, and corporate preparedness. The Asset Management segment provides global investment solutions and investment management services. The company was founded by Alexandre Lazard, Lazare Lazard, and Simon Lazard in 1848 and is headquartered in New York, NY.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Lazard reports revenue decline in Q4 2022, eyes market recovery

Lazard faced revenue declines in Q4 2022 but remains optimistic about a better second half of 2023.
Strategic investments, fee rate increases, and diversification efforts position Lazard for market recovery and growth.
Challenges include comp ratio issues, non-comp inflation, and varying activity levels in non-M&A businesses.
Opportunities lie in increased M&A activity, market environment dynamics, and talent acquisition for asset management.

Lazard reports Q1 revenue decline but eyes growth opportunities

Lazard faced revenue decline but saw growth in Asset Management amidst workforce reduction plans. The company is strategically focusing on cost-saving initiatives and restructuring to drive future profitability.
Challenges persist in predicting market recovery and dealing with expensive risk capital. However, opportunities exist in asset management outperformance and strategic M&A activities in key sectors.
Lazard's performance compared to peers shows potential for a turnaround in the restructuring business. The company's acquisitions and wealth management expansion aim to capitalize on evolving financial trends.

Lazard reports Q2 revenue decline but sees growth in AUM

Lazard faced revenue challenges in Q2 2023, with a decline in total operating revenue, but showed strength in Asset Management and sequential growth in Financial Advisory.
The company returned capital to shareholders, highlighted AUM growth, and discussed strategic initiatives like the Capital Solutions Group.
Opportunities lie in the stabilization of the M&A market, potential revenue growth in Asset Management, and strategic planning for future success.

Lazard plans revenue growth and structure change for future success

Lazard's Q3 2023 saw revenue decline, but the company is optimistic about a rebound in 2024.
CEO's vision includes doubling revenue by 2030 and converting to a U.S. corporation in 2024.
Focus on strategic investments, growth in Asset Management, and geopolitical advisory services for growth.
Efforts to manage headcount, expenses, and talent acquisition are key priorities for future success.

Lazard reports robust Q4 earnings, eyes growth in M&A and private markets

Lazard's strong financial performance in Q4 2023 underscores its strategic focus on M&A, restructuring, and asset management growth. Despite market headwinds, the company remains optimistic about future prospects, emphasizing disciplined capital allocation and expansion into private markets.

Lazard reports strong Q2 earnings, eyes global expansion opportunities

Lazard's Q2 2024 performance reflects robust revenue growth, successful deal-making, and a focus on cost efficiency and shareholder returns.
The company's strengths lie in its financial advisory records, improving economic conditions, and strategic momentum in asset management.
Challenges include managing operational costs, optimizing asset management performance, and balancing growth investments with shareholder returns.
Opportunities for Lazard include expanding market activities, introducing new products, and leveraging synergies for sustained growth and market share gains.

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Lazard, Inc. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients, an array of financial advisory services regarding mergers and acquisitions, restructurings, capital structure, capital raising, and corporate preparedness. The Asset Management segment provides global investment solutions and investment management services. The company was founded by Alexandre Lazard, Lazare Lazard, and Simon Lazard in 1848 and is headquartered in New York, NY.

The headline numbers for Lazard (LAZ) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Lazard (LAZ) Q2 Earnings: A Look at Key Metrics

Start Time: 08:00 January 1, 0000 8:33 AM ET Lazard Ltd (NYSE:LAZ ) Q2 2023 Earnings Conference Call July 27, 2023, 08:00 AM ET Company Participants Kenneth Jacobs - Chairman and CEO Mary Ann Betsch - CFO Evan Russo - CEO, Asset Management Peter Orszag - CEO, of Financial Advisory Alexandra Deignan - Head of IR, Treasury and Corporate Sustainability Conference Call Participants Ryan Kenny - Morgan Stanley Brendan O'Brien - Wolfe Research Devin Ryan - JMP Securities Jim Mitchell - Seaport Global James Yaro - Goldman Sachs Brennan Hawken - UBS Operator Good morning and welcome to Lazard's Second Quarter 2023 Earnings Conference Call. This call is being recorded.

Lazard Ltd (LAZ) Q2 2023 Earnings Call Transcript

Lazard (LAZ) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.92 per share a year ago.

Lazard (LAZ) Surpasses Q2 Earnings and Revenue Estimates

Lazard reported a second-quarter profit on Thursday that fell 76% as the boutique investment bank's advisory business reeled from a prolonged slump in dealmaking activity.

Lazard quarterly profit slumps as Wall Street's dealmaking drought persists

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) today reported operating revenue1 of $620 million for the quarter ended June 30, 2023. Net income, as adjusted2, was $23 million, or $0.24 per share, diluted, for the quarter. On a U.S. GAAP basis, second-quarter 2023 net loss was $124 million, or $1.41 per share, diluted. First-half 2023 net loss, as adjusted, was $0.3 million. On a U.S. GAAP Basis, first-half 2023 net loss was $146 million, or $1.68 per share, diluted. "Lazard's diversified gl.

Lazard Ltd Reports Second-Quarter and First-Half 2023 Results

The bank's new Capital Solutions business will advise companies on a variety of deals involving things such as preferred stock and convertible debt.

Lazard Launches New Arm Focused on Capital Raising

Lazard (LAZ) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Lazard (LAZ) Q2 Earnings Expected to Decline

NEW YORK--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces its investigation of the following Lazard Asset Management fund concerning the Company and its directors' and officers' possible violations of state laws: Fund Name Ticker (NYSE) Lazard Global Total Return and Income Fund, Inc. LGI If you own stock in this Lazard fund, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matter.

Glancy Prongay & Murray LLP Announces Investigation of Lazard Asset Management Fund

Market appreciation, favorable FX movements and net inflows aid Lazard's (LAZ) June AUM balance, which increases 4.1% sequentially.

Lazard's (LAZ) June AUM Rises 4.1% on Favorable Market Returns

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of June 30, 2023 totaled approximately $239.3 billion. The month's AUM included market appreciation of $7.7 billion, foreign exchange appreciation of $1.6 billion and net inflows of $0.1 billion. Preliminary average AUM for the quarter ended June 30, 2023 was $235.4 billion. LAZARD LTD ASSETS UNDER MANAGEMENT (“AUM”) (unaudited) ($ in millions)       As of:     June 30, 20231.

Lazard Reports June 2023 Assets Under Management

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) will announce its second-quarter and first-half 2023 financial results in a press release to be issued Thursday morning, July 27, 2023. The press release will be available on Lazard's website at: www.lazard.com. Lazard will host a conference call at 8:00 a.m. EDT on July 27, 2023, to discuss the company's financial results for the second quarter and first half of 2023. The conference call can be accessed via a live audio webcast available throug.

Lazard to Announce Second-Quarter and First-Half 2023 Financial Results

Lazard Ltd LAZ has terminated the employment of Reid Snellenbarger, co-head of North America restructuring, after he allegedly acted improperly toward co-workers at a party he held this past weekend, The Wall Street Journal reported Thursday. A spokesperson for Snellenbarger did not comment, the newspaper reported.

Lazard terminates banker after alleged ‘inappropriate' behavior: WSJ

Reid Snellenbarger is said to have acted inappropriately at a party he hosted over the weekend.

Lazard Fires Top Restructuring Banker Accused of Harassing Employees

Lazard Ltd. LAZ, -0.37% stock is up 5.2% in premarket trades on Tuesday after the Financial News reported that Abu Dhabi's sovereign wealth fund ADQ had launched talks earlier this y ear to take the investment bank private.

Lazard stock rises in premarket on report of recent interest from Abu Dhabi sovereign wealth fund

Abu Dhabi's sovereign wealth fund ADQ held talks with investment bank Lazard Ltd to take it private earlier this year, but the discussions fell apart, with both sides walking away from a deal, the Financial Times reported on Tuesday.

Abu Dhabi-based ADQ's talks to take Lazard private fall apart - FT

Lazard's (LAZ) May AUM declines 2% to $230 billion due to unfavorable market returns.

Lazard's (LAZ) May AUM Falls 2% to $230B on Weaker Markets

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of May 31, 2023 totaled approximately $230.0 billion. The month's AUM included foreign exchange depreciation of $2.9 billion, net outflows of $0.9 billion and market depreciation of $0.8 billion. LAZARD LTD ASSETS UNDER MANAGEMENT (“AUM”) (unaudited) ($ in millions)     As of:   May 31,   April 30,   20231   2023 Equity   $176,530   $180,245 Fixed Income   45,178   46,034 Oth.

Lazard Reports May 2023 Assets Under Management

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) announced today that Peter R. Orszag, Chief Executive Officer of Financial Advisory, is scheduled to participate in a moderated question and answer session at the Morgan Stanley U.S. Financials, Payments & CRE Conference on Wednesday, June 14, at 8:45 a.m. ET. A live audio webcast will be available via the Lazard Investor Relations website at www.lazard.com. A replay will be available on the same website, shortly after the conference. About.

Lazard Chief Executive Officer of Financial Advisory Peter R. Orszag to Speak at the Morgan Stanley U.S. Financials, Payments & CRE Conference

In the past year, Lazard (-17.00%) has experienced poorer price performance than both the financial services industry (-9.32%) and the broad market (+3.63%). This reflects a -5.07% decline in 2021-22 free cash flows and a -10.21% decline in total revenues. However, 2021 was an anomaly in dealmaking due to the low cost of capital at the time, though Lazard's asset management business remains down 50% from its peak.

Lazard: Shift In Leadership And Dealmaking Recovery Support Positive Price Action

Lazard is having pretty bad results on account of labour inflation, making operating leverage worse to the downside as advisory declines. Announcements have fallen a lot, and time to completion has grown, with the mandates coming through being the more complex ones too.

Lazard: Workforce Reductions Of 10% To Control Labour Inflation

Lazard Ltd. LAZ, +1.10% on Friday named insider Peter R.

Lazard elevates financial advisory head to CEO

Lazard Ltd said Peter Orszag, a banker and former White House official, will take the helm as its chief executive officer on Oct. 1, when Kenneth Jacobs steps down after 14 years in the top job at the investment bank.

Lazard names Orszag as CEO, Jacobs to become executive chairman

The former Obama administration official is set to succeed Ken Jacobs, who will become executive chairman.

Lazard Names Peter Orszag as Next CEO

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) today announced that Peter R. Orszag, currently CEO of Financial Advisory at Lazard, has been unanimously elected by its Board to serve as CEO of Lazard and as a Board Director. Kenneth M. Jacobs, Chairman and CEO of Lazard, will serve as Executive Chairman of the Board and will continue to advise clients on strategic financial matters. These changes will take effect October 1, 2023. “Peter is the optimal choice as the next CEO of Lazard,” said.

Lazard Appoints Peter R. Orszag as CEO and Kenneth M.

Italy's top flight soccer league has picked Lazard as adviser to assess approaches from private equity firms and banks interested in buying into Serie A's media business, two sources with knowledge of the matter said on Wednesday.

News for Lazard Stock (LAZ)