Perella Weinberg Partners (PWP) Earnings Call Transcripts
Perella Weinberg Partners's Latest Earnings Call - Q1 FY2026
Perella Weinberg Partners reported Q1 2026 revenues of $149 million, a 30% decline YoY, attributed to the timing of deal closures and a challenging macro environment. Despite the revenue drop, management highlighted a strong client dialogue and a high backlog, indicating potential for a stronger second half. The acquisition of Gleacher Shacklock is expected to enhance their European presence. The adjusted compensation margin was 79%, above the target due to lower revenues. Management maintained guidance for a back half-weighted revenue year, with expectations for the compensation margin to normalize.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $149 million (miss) |
| Adjusted Compensation Margin | 79% (miss) |
| Adjusted Non-Compensation Expense | $37 million (beat) |
| Cash | $78 million (neutral) |
| Dividend | $0.07 per share (neutral) |
Guidance from management
Management expects revenue to be back half-weighted for 2026, with the compensation margin normalizing by year-end. No specific quarterly revenue guidance was provided.
What management said
Okay. Thank you, operator, and thank you, everyone, for joining today. Thank you for your continued support as we build our business and looking forward to seeing everyone on the next call. And I also want to thank all of our Perella Weinberg teammates around the world that are continuing to work every day and very, very focused on our clients. And so I wanted to make sure that they hear my expression of gratitude fo...
What analysts pressed on
Analysts expressed concerns about the extended deal timelines and the impact of macroeconomic factors on M&A activity. Questions were raised about the potential for a sponsor M&A recovery and the impact of geopolitical issues on European markets.
Main topics on the call
- Revenue Decline — Q1 2026 revenues were $149 million, down 30% from the previous year. Management attributed this to extended deal timelines and a challenging macro environment. "Our announced and pending backlog at quarter end was at a 2...
- Gleacher Shacklock Acquisition — The acquisition of Gleacher Shacklock is expected to significantly enhance PWP's presence in the U.K., the largest advisory market in Europe. "They are one of the most respected independent advisory firms in the U.K."
- Compensation Margin — The adjusted compensation margin was 79%, above the intended 67% due to lower revenue. Management expects this to moderate as revenues build through the year.
- M&A Market Activity — The M&A market is active, driven by mega cap transactions. PWP was involved in 2 of the 12 transactions valued at $15 billion or above in the quarter.
Read the full Perella Weinberg Partners transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Perella Weinberg Partners
Perella Weinberg Partners (PWP) is a publicly listed company in the Capital Markets industry, within the Financials sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 24 calls on record spanning November 4, 2021 to July 31, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 24 Perella Weinberg Partners earnings call transcripts on record, spanning November 4, 2021 to July 31, 2026. Based on this history, Perella Weinberg Partners reports quarterly. The most recent call on file is dated July 31, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- PWP
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Financials
- Industry
- Capital Markets
- Calls on record
- 24
- First call
- November 4, 2021
- Most recent
- July 31, 2026
- Reporting cadence
- quarterly