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- \nFourth quarter revenues of $438.7 million, up 104% from the prior year period<\/p>\n<\/li>\n
- \nFull year 2024 GAAP revenues of $1,194.5 million; full year 2024 Adjusted revenues of $1,201.5 million, up 40% from the prior year<\/p>\n<\/li>\n
- \nGAAP net income of $1.15 per share (diluted) for the fourth quarter of 2024 and $1.78 per share (diluted) for the full year; Adjusted net income of $1.18 per share (diluted) for the fourth quarter and $1.82 per share (diluted) for the full year<\/p>\n<\/li>\n
- \nFourth quarter Adjusted pre-tax margin of 31.4%; full year 2024 Adjusted pre-tax margin of 16.4%<\/p>\n<\/li>\n
- \nContinued to execute on our growth strategy:<\/p>\n
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- \nIn 2024, we promoted seven advisory professionals to Managing Director and hired eight Managing Directors<\/p>\n<\/li>\n
- \nIn early 2025, we promoted 12 advisory professionals to Managing Director and hired a Global Head of Private Funds Advisory<\/p>\n<\/li>\n<\/ul>\n<\/li>\n
- \nStrong balance sheet with cash and short-term investments of $560.4 million and no debt or goodwill<\/p>\n
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- \nIncreased regular quarterly dividend 8% to $0.65 per share<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
NEW YORK–(BUSINESS WIRE<\/a>)–
\nMoelis & Company (NYSE:MC) today reported financial results for the fourth quarter and full year ended December 31, 2024. The Firm’s fourth quarter revenues were $438.7 million and represented an increase of 104% from the prior year period. The Firm reported fourth quarter GAAP net income of $99.8 million, or $1.15 per share (diluted). On an Adjusted basis, the Firm reported net income of $99.0 million and $1.18 per share (diluted) for the fourth quarter of 2024, as compared with a net loss of $4.8 million, or ($0.06) per share, in the prior year period.<\/p>\n\nThe Firm’s full year 2024 GAAP revenues were $1,194.5 million. On an Adjusted basis, the Firm’s full year 2024 revenues were $1,201.5 million and represented an increase of 40% from the prior year. The Firm reported full year 2024 GAAP net income of $151.5 million, or $1.78 per share (diluted). On an Adjusted basis, the Firm reported net income of $150.4 million, or $1.82 per share (diluted) for full year 2024, as compared with a net loss of $15.0 million, or ($0.20) per share (diluted), in the prior year. GAAP and Adjusted net income in full year 2024 include net tax benefits of approximately $0.16 per share (diluted) related to the settlement of share-based awards.<\/p>\n
\n“Our 2024 results reflect strong performance across our business, fueled by the strength of our integrated global team. We are encouraged by our momentum heading into 2025 and the Firm has never been better positioned to continue delivering for our clients and shareholders,” said Ken Moelis, Chairman and Chief Executive Officer.<\/p>\n
The Firm\u2019s revenues and net income can fluctuate materially depending on the number, size and timing of completed transactions as well as other factors. Accordingly, financial results in any particular quarter may not be representative of future results over a longer period of time.<\/i><\/p>\n
Currently 92% of the operating partnership (Moelis & Company Group LP) is owned by the corporate partner (Moelis & Company) and is subject to corporate U.S. federal and state income tax. The remaining 8% is owned by other partners of Moelis & Company Group LP and is primarily subject to U.S. federal tax at the partner level (certain state, local and foreign income taxes are incurred at the company level). The Adjusted results included herein apply certain adjustments from our GAAP results, including the assumption that 100% of the Firm\u2019s operating result was taxed at our corporate effective tax rate. We believe the Adjusted results, when presented together with comparable GAAP results, are useful to investors to compare our performance across periods and to better understand our operating results. A reconciliation between our GAAP results and our Adjusted results is presented in the Appendix to this press release.<\/i><\/p>\n
GAAP and Adjusted (non-GAAP) Selected Financial Data (Unaudited)<\/span><\/b><\/p>\n
- \nIncreased regular quarterly dividend 8% to $0.65 per share<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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