PJT Partners Sees Record Quarter Amidst Rising Costs

PJT Partners Inc. announced historic financial achievements for the second quarter and first half of 2026. The firm's revenues, adjusted pre-tax income, and adjusted earnings per share all surpassed previous records. The restructuring division secured the top global and US rankings for announced and completed restructurings, contributing significantly to these record results.

PJT Park Hill demonstrated resilience, with substantial growth in private capital solutions helping to counterbalance a challenging primary fundraising environment. Simultaneously, the strategic advisory business posted its best-ever quarter and half-year performance, benefiting from a favorable deal landscape and an expanding mergers and acquisitions pipeline.

Despite these strong performances, PJT Partners anticipates that full-year revenue growth will not match the pace seen in the first half. The company is also contending with a 10% year-over-year increase in non-compensation expenses for the second quarter, with a full-year projection of 14% growth. This rise is attributed to increased occupancy costs, travel, and investments in AI and technology.

Looking ahead, the strategic advisory business faces uncertainties from geopolitical factors and the rapid advancement of AI, contributing to market volatility. While the primary fundraising market remains subdued, PJT Partners is actively expanding its restructuring services by increasing geographic reach and deepening client relationships. The company is strategically positioned to capitalize on growth opportunities as businesses proactively manage liabilities.