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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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.

Lazard Ltd (NYSE:LAZ ) Q3 2022 Earnings Conference Call October 27, 2022 8:00 AM ET Company Participants Alexandra Deignan - Head, IR Mary Betsch - CFO Kenneth Jacobs - Chairman & CEO Evan Russo - CEO, Asset Management Conference Call Participants Richard Ramsden - Goldman Sachs Group Brennan Hawken - UBS Devin Ryan - JMP Securities Manan Gosalia - Morgan Stanley Brendan O'Brien - Wolfe Research Operator Good morning, and welcome to Lazard's Third Quarter and First 9 Months of 2022 Earnings Conference Call. This call is being recorded.

Lazard Ltd (LAZ) Q3 2022 Earnings Call Transcript

Lazard (LAZ) delivered earnings and revenue surprises of 29.63% and 13.42%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Lazard (LAZ) Surpasses Q3 Earnings and Revenue Estimates

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) today reported operating revenue1 of $724 million for the quarter ended September 30, 2022.

Lazard Ltd Reports Third-Quarter and Nine-Month 2022 Results

LONDON--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) announced today that the firm has secured a new U.K. headquarters at 20 Manchester Square, London.

Lazard Secures New U.K. Headquarters in Manchester Square

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) will announce its third-quarter and nine-month 2022 results in a press release to be issued Thursday morning, October 27, 2022.

Lazard to Announce Third-Quarter and Nine-Month 2022 Results

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) announced today that Jami Miscik has joined the firm as a Senior Advisor, effective immediately.

Jami Miscik Joins Lazard as a Senior Advisor, Geopolitical Advisory

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of September 30, 2022 totaled approximately $197.8 billion.

Lazard Reports September 2022 Assets Under Management

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Lazard (LAZ) Right Now?

NEW YORK & RIYADH, Saudi Arabia--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) announced today that the firm has hired Sarah Al-Suhaimi as Chair of Lazard's Financial Advisory business in the Middle East and North Africa (MENA), and that she will be appointed Chair of Lazard Saudi Arabia subject to regulatory approval. Her appointment demonstrates Lazard's growing commitment to serving investment banking clients in the region through its Riyadh office, where the firm has been licensed to provide fina

Lazard Hires Sarah Al-Suhaimi to Chair Lazard's Middle East and North Africa Investment Banking Business

Market depreciation, unfavorable FX movements and net outflows hurt Lazard's (LAZ) August AUM balance.

Lazard's (LAZ) August AUM Slips 3.6% on Market Depreciation

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of August 31, 2022 totaled approximately $217.0 billion. The month's AUM included market depreciation of $5.2 billion, foreign exchange depreciation of $2.2 billion, and net outflows of $0.7 billion. LAZARD LTD ASSETS UNDER MANAGEMENT (“AUM”) (unaudited) ($ in millions)         As of:       August 31,       July 31,       20221       2022 Equity     $170,699       $178,368 Fi

Lazard Reports August 2022 Assets Under Management

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) announced today that Timothy Donahue has joined the firm as a Managing Director and Vice Chairman of U.S. Investment Banking, effective immediately. Based in New York, Mr. Donahue will help lead Lazard's growing practice of providing advice pertaining to capital structures and raising private credit. Mr. Donahue will collaborate with the Capital Markets Advisory Group, and Restructuring and Capital Solutions Group, to best serve corporate and fi

Timothy Donahue Joins Lazard as a Managing Director and Vice Chairman of U.S. Investment Banking

Lazard's (LAZ) AUM balance in July improves on the back of upbeat market performance.

Lazard's (LAZ) July AUM Rises 3.9% on Market Appreciation

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of July 31, 2022 totaled approximately $225.1 billion. The month's AUM included market appreciation of $9.8 billion, foreign exchange depreciation of $1.0 billion, and net outflows of $0.3 billion. LAZARD LTD ASSETS UNDER MANAGEMENT (“AUM”) (unaudited) ($ in millions)     As of:   July 31, June 30,   20221 2022 Equity $ 178,368 $ 170,274 Fixed Income   40.649   39,929 Other

Lazard Reports July 2022 Assets Under Management

Lower expenses drive Lazard's (LAZ) Q2 earnings. However, a fall in revenues and a decline in AUM hurt.

Lazard (LAZ) Stock Rises 5.7% on Q2 Earnings Beat, AUM Falls

Lazard Ltd (NYSE:LAZ ) Q2 2022 Earnings Conference Call July 28, 2022 8:00 AM ET Company Participants Alexandra Deignan - Head of Investor Relations & Corporate Sustainability Evan Russo - Chief Financial Officer Kenneth Jacobs - Chairman & Chief Executive Officer Peter Orszag - Chief Executive Officer, Financial Advisory Conference Call Participants Brennan Hawken - UBS Richard Ramsden - Goldman Sachs Devin Ryan - JMP Securities Manan Gosalia - Morgan Stanley Jeff Harte - Piper Sandler Operator Good morning, and welcome to Lazard's Second Quarter 2022 Earnings Conference Call. This call is being recorded.

Lazard Ltd (LAZ) CEO Kenneth Jacobs on Q2 2022 Results - Earnings Call Transcript

Lazard (LAZ) delivered earnings and revenue surprises of 5.75% and 0.35%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Lazard (LAZ) Q2 Earnings and Revenues Surpass Estimates

Lazard Ltd on Thursday reported a 34% drop in second-quarter profit as dealmaking globally stood at a fraction of last year's record levels.

Lazard posts 34% drop in second-quarter profit

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) announced today that Mary Ann Betsch will join the firm as Chief Financial Officer (CFO), effective October 3. She succeeds Evan L. Russo, who has served as CFO since 2017, and who became Chief Executive Officer of Lazard's Asset Management business on June 1, 2022. “With over two decades of relevant financial services experience, Mary Ann has the financial and strategic acumen, leadership skills, and knowledge of our business to serve as our fi

Lazard Names Mary Ann Betsch Chief Financial Officer

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) today reported operating revenue1 of $676 million for the quarter ended June 30, 2022. Net income, as adjusted2, was $96 million, or $0.92 per share (diluted) for the quarter. On a U.S. GAAP basis, second-quarter 2022 net income was $95 million, or $0.92 per share (diluted). First-half 2022 net income, as adjusted, was $211 million, or $1.97 per share (diluted). On a U.S. GAAP basis, first-half 2022 net income was $209 million, or $1.97 per shar

Lazard Ltd Reports Second-Quarter and First-Half 2022 Results

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) today announced that its Board of Directors has voted to increase the quarterly dividend on its outstanding Class A common stock by 6% to $0.50 per share. The dividend is payable on August 19, 2022, to stockholders of record on August 8, 2022. About Lazard Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 41 cities across 26 countries in North, Central and South America, Europe, Asia and Australia

Lazard Increases Quarterly Dividend to $0.50 Per Share

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) announced today that John Goldasich has joined the firm as a Managing Director in the Consumer and Retail Group within Financial Advisory, effective immediately. Based in Charlotte, North Carolina, Mr. Goldasich specializes in the restaurant and food service sector, as well as consumer services, multi-unit retail and franchise businesses. “John brings more than 18 years of investment banking and corporate finance experience, advising clients on

John Goldasich Joins Lazard as a Managing Director in Consumer and Retail Group, Financial Advisory

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) announced today that Prasad Parmeshwaran has joined the firm as a Managing Director in the Healthcare Group within Financial Advisory, effective immediately. Based in San Francisco, Mr. Parmeshwaran primarily advises clients on financial matters in the biotechnology and diagnostics sectors. “We welcome Prasad, who brings nearly two decades of advising healthcare clients, particularly in biotechnology and diagnostics M&A,” said David Gluckman

Prasad Parmeshwaran Joins Lazard as a Managing Director in Healthcare Group, Financial Advisory

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) will announce its second quarter and first-half 2022 results in a press release to be issued Thursday morning, July 28, 2022. 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 28, 2022, to discuss the company's financial results for the second quarter and first half of 2022. The conference call can be accessed via a live audio webcast available through Lazard's

Lazard to Announce Second-Quarter and First-Half 2022 Results

NEW YORK--(BUSINESS WIRE)--Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of June 30, 2022 totaled approximately $216.6 billion. The month's AUM included market depreciation of $13.1 billion, foreign exchange depreciation of $3.7 billion, and net outflows of $2.5 billion. Preliminary average assets under management for the quarter ended June 30, 2022 were $225.7 billion. LAZARD LTD ASSETS UNDER MANAGEMENT (“AUM”) (unaudited) ($ in millions)       A

News for Lazard Stock (LAZ)