Lazard Q2 2026 slides: revenue growth masks margin pressure By Investing.com

Lazard (LAZ) reported a 91% year-over-year drop in second-quarter adjusted profit, missing Wall Street expectations of 35 cents per share. The firm said it replaced over 80 managing directors from 2023 to 2025, affecting 40% of roles, and revenue fell 9% to $786 million. Asset management revenue rose 23% to $331 million, with $285 billion in AUM.

Lazard (LAZ) reported Q2 2026 revenue of $807.7 million, down 1.2% year over year, with gross profit at $245.3 million and operating profit at $37.6 million. Net income attributable to common shareholders fell to $4.8 million, and diluted EPS to $0.03. Operating cash flow was $203.4 million, and cash totaled $1.1 billion.

Lazard, Inc. (LAZ) reported Q2 2026 revenue of $807.7M, up 1% year over year, but profitability fell. Net income attributable to Lazard was $4.8M versus $55.3M a year earlier, and diluted EPS was $0.03 versus $0.52. Adjusted net revenue rose modestly as Asset Management gains offset weaker Financial Advisory fees. Lazard agreed to acquire Campbell Lutyens, with potential earnouts totaling about $660M+, expected to close in 2H 2026.

Lazard Asset Management hired Chris Hogbin’s team, adding TP Enders from Goldman Sachs as head of product and Christopher Bricker from AllianceBernstein to lead corporate development. The moves follow Lazard reporting record client assets and $7.4 billion of first-half inflows, despite a $1.4 billion May withdrawal that cut Lazard shares about 13% on disclosure. Lazard oversees $285 billion.

Lazard reported a 91% year-over-year drop in second-quarter adjusted profit and said it cut more than 80 managing director roles as it restructures its financial advisory business. Quarterly revenue fell 9%. It plans to expand U.S. IPO advisory and expects ramp-up through 2027. Asset management revenue rose 23% to $331 million, with $285 billion AUM.

Lazard (LAZ) reported Q2 FY2026 adjusted net revenue of $786M and $1.5B for the first half. Financial Advisory revenue was $445M, and Asset Management revenue $331M, with management fees $310M (+23% YoY) and AUM of $285B (+15% YoY). H1 net inflows were $7.4B. Lazard restarted $250M buybacks and declared a $0.50 dividend.