Lazard posts 11% revenue growth but EPS miss as it launches private‑capital advisory business
Lazard reported third‑quarter 2026 net revenue of $814 million, up 9% year‑over‑year on a GAAP basis and 11% on an adjusted basis. Adjusted earnings per share fell to $0.36, missing consensus estimates. CEO Peter Orszag said the firm is advancing its Lazard 2030 strategy, highlighted record financial‑advisory revenue and strong asset‑management inflows, and announced the upcoming launch of Lazard CL, a private‑capital advisory platform, in early November.
Why it matters
The revenue increase shows continued demand for Lazard’s advisory services, but the EPS miss may pressure the stock price. The company expects the new Lazard CL business to generate about $500 million of revenue in 2027, which could boost future earnings if realized.
Key facts
- 1Third‑quarter 2026 net revenue was $814 million, a 9% increase versus the prior year. stocktitan.net
- 2Adjusted net revenue for the quarter was $805 million, up 11% year‑over‑year. sec.gov
- 3Adjusted earnings per share for Q3 2026 were $0.36. sec.gov
- 4GAAP net income for the quarter was $29 million, down 59% year‑over‑year. sec.gov
- 5Financial Advisory adjusted revenue grew 10% to $465 million. sec.gov
- 6Asset Management adjusted revenue grew 12% to $330 million. sec.gov
Summary written by AlphAI AI Desk from 18 of 18 sources. Not investment advice. Figures are as stated by the linked sources.