Moelis (MC) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MC Q2 2026 EPS Results

Actual EPS$0.63

Consensus EPS$0.62

Beat/MissBeat by +$0.01

One Year Ago EPS$0.53

MC Q2 2026 Revenue Results

Actual Revenue$409.39M

Expected Revenue$387.27M

Beat/MissBeat by +$22.12M

YoY Revenue Growth+12.05%

Earnings Announcement Details

QuarterQ2 2026

Date07/29/2026

TimeAfter Close

Conference CallWednesday, July 29, 2026

MC Upcoming Earnings

Moelis's next earnings date is estimated for November 4, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MC Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized strong, broad-based revenue growth, record results in capital markets and PCA, a substantially larger announced pipeline (+80%), improved margins, meaningful talent additions and active capital returns, indicating positive operational momentum. Notable challenges include rising non-compensation costs, competitive senior hiring pressures, pockets of weaker capital structure activity, industry-wide sponsor exit constraints in parts of the mid-market, and macro/AI-related risks. On balance the positive revenue, pipeline, margin improvements and balance sheet strength outweigh the challenges.

Company Guidance

Guidance from the call was constructive: Q2 revenues were $409.0M (+12% YoY) and first‑half revenues were $729.0M (+9% YoY), both records, with capital markets and private capital advisory driving growth and an announced pipeline up >80% year‑over‑year as the firm enters the back half with a record total pipeline; first‑half business mix was ~2/3 M&A / 1/3 non‑M&A. Management expects a strong second half, continued progress on the adjusted compensation ratio (65.8% in Q2 and YTD vs. 69% prior year, with improvement dependent on full‑year revenues, senior hiring and the talent market), and steady adjusted non‑comp expense run‑rate (Q2 non‑comp $66.5M, 16.2% ratio; H1 non‑comp $134M, 18.3% ratio; quarterly non‑comp expected in the mid‑to‑high $60M range). Financial highlights and capital returns include adjusted pretax margins of 18.6% (Q2) and 17.0% (YTD) vs. 17.6%/16.0% prior, an effective tax rate of 29.1% for the quarter, a $0.65 regular quarterly dividend, ~337k shares repurchased in Q2 at $64.43 avg (≈2.3M shares repurchased YTD for ~$141M), ~ $246M returned to shareholders in H1 including dividends, and cash of $481M with no debt. The firm also reinforced hiring and strategic investments (12 lateral MD hires YTD and 13 internal promotions, PCA team at 7 dedicated MDs) and ongoing AI deployment with largely fixed‑cost contracts to date.

Record Revenue and Year-over-Year Growth

Reported Q2 revenues of $409 million, up 12% year-over-year, and first half revenues of $729 million, up 9% year-over-year — record revenues for both the quarter and first half.

Strong Pipeline and Deal Activity

Announced pipeline increased over 80% versus the prior-year period at the end of Q2; new business origination accelerated in the quarter and firm entered the back half with a record total pipeline, supporting a constructive outlook for H2.

Capital Markets and Private Capital Advisory Momentum

Non-M&A businesses generated record first-half revenues led by capital markets and private capital advisory (PCA); capital markets delivered record Q2 and H1 revenues with expanded capabilities (including planned securitization) and recent MD hires.

Notable Client Engagements and Closed Deals

Advised on high-profile transactions including Taylor Morrison ($8.5B sale), Magnolia Oil and Gas ($4.1B acquisition), Iqvia ($3.8B sale), a $1.1B IPO with concurrent private placement, a $2.4B restructuring and other sponsor and capital markets mandates.

Improved Profitability and Expense Ratios

Adjusted compensation ratio improved to 65.8% in both Q2 and H1 (down from 69% in prior-year periods). Adjusted pretax margin improved to 18.6% in Q2 (vs. 17.6% prior year) and 17.0% year-to-date (vs. 16.0% prior year).

Talent Investments and Capability Builds

Year-to-date lateral hires included 12 managing directors plus 13 internal promotions; PCA team reached critical mass with 7 dedicated MDs and additional senior hires across capital markets, CSA and Europe infrastructure to broaden capabilities.

Capital Return and Strong Balance Sheet

Declared quarterly dividend of $0.65 per share; repurchased ~337k shares in Q2 and ~2.3M shares in H1 (~$141M repurchases), returning ~ $246M to shareholders in H1; ended quarter with $481M cash and no debt.

MC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 04, 2026	2026 (Q3)	0.72 / -	0.68	―
Jul 29, 2026	2026 (Q2)	0.62 / 0.63	0.53	18.87% (+0.10)
Apr 29, 2026	2026 (Q1)	0.54 / 0.50	0.64	-21.88% (-0.14)
Feb 04, 2026	2025 (Q4)	0.87 / 1.13	1.18	-4.24% (-0.05)
Oct 29, 2025	2025 (Q3)	0.60 / 0.68	0.22	209.09% (+0.46)
Jul 24, 2025	2025 (Q2)	0.39 / 0.53	0.18	194.44% (+0.35)
Apr 23, 2025	2025 (Q1)	0.56 / 0.64	0.22	190.91% (+0.42)
Feb 05, 2025	2024 (Q4)	0.49 / 1.18	-0.06	2066.67% (+1.24)
Oct 23, 2024	2024 (Q3)	0.19 / 0.22	-0.15	246.67% (+0.37)
Jul 24, 2024	2024 (Q2)	0.10 / 0.18	-0.04	550.00% (+0.22)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed