Lazard posts Q3 2026 revenue growth but earnings miss and announces Campbell Lutyens acquisition
Lazard reported third‑quarter 2026 net revenue of $814 million, a 9% year‑over‑year increase, while adjusted net revenue rose 11% to $805 million. Adjusted earnings were $0.36 per share, missing consensus, and GAAP net income fell 59% to $29 million. The firm announced it will close its acquisition of Campbell Lutyens and launch the Lazard CL private‑capital advisory platform in November.
Why it matters
The earnings miss and lower GAAP profit may pressure the stock, while the announced acquisition signals future revenue growth and the $88 million returned to shareholders via dividend and buybacks provides short‑term cash to investors.
Key facts
- 1Net revenue on a U.S. GAAP basis was $814 million for the quarter ended September 30 2026. sec.gov
- 2Adjusted net revenue was $805 million, up 11% year‑over‑year. sec.gov
- 3GAAP net income was $29 million, down 59% year‑over‑year. sec.gov
- 4Adjusted net income was $40 million, or $0.36 per share, missing estimates. sec.gov
- 5Financial Advisory net revenue was $470 million, up 10% year‑over‑year. sec.gov
- 6Asset Management net revenue was $357 million, up 9% year‑over‑year. sec.gov
Summary written by AlphAI AI Desk from 17 of 17 sources. Not investment advice. Figures are as stated by the linked sources.