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EarningsQ2 2026 Earnings Report
PWP Q2 2026 EPS Results
Actual EPS$0.20
Consensus EPS$0.06
Beat/MissBeat by +$0.15
One Year Ago EPS$0.09
PWP Q2 2026 Revenue Results
Actual Revenue$156.53M
Expected Revenue$144.76M
Beat/MissBeat by +$11.77M
YoY Revenue Growth+0.81%
Earnings Announcement Details
QuarterQ2 2026
Date07/31/2026
TimeBefore Open
Conference CallFriday, July 31, 2026
PWP Upcoming Earnings
Perella Weinberg Partners's next earnings date is estimated for November 6, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
PWP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Management reported meaningful forward momentum—backlog up markedly (nearly 2.5x announced & pending; booked plus backlog >30% YoY), accelerating deal announcements, a closed private funds advisory capability, expense discipline, and continued capital returns and a clean balance sheet. Offsetting these positives are a 17% year-over-year decline in first-half revenue, a temporarily elevated first-half compensation ratio (71% vs a 67% target), and timing risks that some large fee events may not be realized until 2027. On balance, the call emphasized strengthening pipeline and confidence heading into the back half, while acknowledging near-term lumpiness and partner ramp timelines.Company Guidance
Quarter and Year-to-Date Revenue Reported
Reported Q2 2026 revenue of $157 million and first-half revenue of $305 million, with management noting momentum in announced transactions despite first-half decline.
Strong Backlog Growth (Booked + Announced & Pending)
Management reported announced and pending backlog is up nearly 2.5x year-over-year, and combined booked plus announced & pending backlog is up over 30% year-over-year, signaling meaningful forward pipeline.
Acceleration in Deal Announcements
Nearly 40% of year-to-date announcements occurred since the start of June; the firm announced 10 transactions in the quarter and noted elevated M&A activity (including large and mid-market deals).
New Capability: Private Funds Advisory Closed
Closed acquisition/buildout of private funds advisory business (closed last October per commentary), with early client take-up described as very good and multiple transactions and a growing pipeline.
Cost Discipline and Non-Comp Expense Reductions
Adjusted non-compensation expense was $31 million for the quarter (down $5 million year-over-year and $6 million sequentially). For the first half, adjusted non-comp expense was $69 million, down 20% versus the prior year; management expects a single-digit percent decrease in full-year adjusted non-comp versus 2025.
Capital Returns and Strong Capital Position
Year-to-date returned $73 million to equity holders; over five years returned over $765 million and retired ~40 million shares/equivalents. Ended the quarter with $116 million in cash and no debt; declared a $0.07 quarterly dividend.
Investment in Talent and Partnership Progression
Announced six incoming partners (including from Gleacher Shacklock) and a new class of eight promoted partners; internally promoted partners represent ~45% of partnership, and the firm emphasized developing partner-led coverage to drive future revenue.
Margin Target Intact
Management reiterated a full-year adjusted compensation ratio target of ~67% (first half was 71%), expecting the ratio to decline as revenue shifts to the back half.
PWP Earnings History
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