Lazard Ltd. (LAZ)

NYSE:LAZ

LAZ

Lazard

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Lazard (LAZ) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 23, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.52

Last Year’s EPS

0.52

Same Quarter Last Year

Analyst Consensus

Hold

Based on 7 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 01, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presents a generally constructive strategic and operational picture: strong Asset Management results (notably $9B net inflows, +17% AM revenue, +25% management fees YoY), a transformational acquisition (Campbell Lutyens) that accelerates private capital connectivity toward a 50% advisory target, and evidence of improved client engagement. Offsetting these positives are near-term softness in Financial Advisory (−4% YoY), a high Q1 compensation ratio (69.9%) driven by accruals and recent hiring, FX and divestiture headwinds to AUM, and conversion risk from deal pipeline to revenue. On balance, the strengths — especially in Asset Management performance and the strategic acquisition — outweigh the near-term advisory and expense challenges, suggesting a positive outlook provided execution on pipeline, cost discipline and integration progress continue.

Company Guidance

Lazard guided to a constructive 2026 with firmwide adjusted net revenue of $673 million (up 5% YoY) driven by Financial Advisory adjusted net revenue of $356 million (down 4% YoY) and Asset Management adjusted net revenue of $309 million (up 17% YoY); Asset Management reported management fees of $296 million (up 25% YoY and +3% sequential) and $11 million of incentive fees, AUM of $259 billion as of March 31 with $9 billion of Q1 net inflows (the strongest quarterly inflow in nearly 20 years), $354 million market appreciation, $3 billion FX depreciation, $1.5 billion of divestitures and average AUM of $266 billion (+2% QoQ, +15% YoY) with average management fees of 44.6 bps (vs 43.9 bps in Q4 and 41.2 bps a year ago); they expect full‑year comp ratio to normalize closer to ~65.5% (Q1 comp ratio was 69.9% with adjusted comp expense $471 million and non‑comp expense $149 million, non‑comp ratio 22.1%), an adjusted effective tax rate in the high‑20s percent for 2026, and continued net inflows for the year (not necessarily linear), while announcing the Campbell Lutyens acquisition (reference share price $46.50; $460M upfront, $115M deferred, $85M performance earnout) that is expected to be EPS‑accretive in 2027, materially add ~ $500M of pro forma 2027 revenue, move private capital connectivity from ~25% of advisory revenue in 2019 to 40% today toward a ~50% target post‑close, and benefit from conflict clearances for >$5B deals up 50% YoY and a stronger recruiting pipeline (28 net MD additions in 2025; ~40% of MDs still in ramp).

Firmwide Revenue Growth

Adjusted net revenue of $673 million for Q1 2026, up 5% year-over-year.

Asset Management Momentum

Asset Management adjusted net revenue was $309 million, up 17% YoY. Management fees were $296 million, +25% YoY and +3% sequentially. Net inflows were $9 billion in the quarter (the highest quarterly net flow in almost 20 years). AUM was $259 billion as of March 31, average AUM $266 billion (up 15% YoY and up 2% QoQ). Average management fee was ~44.6 bps (up from 41.2 bps YoY and 43.9 bps QoQ).

Strategic Acquisition and Private Capital Connectivity

Announced acquisition of Campbell Lutyens to form 'Lazard CL' (private capital advisory unit). Combined pro forma private capital advisory revenue expected to be ~ $500 million in 2027. Transaction is all-stock with $460M upfront reference consideration, $115M deferred, and an $85M performance earnout; expected to be EPS accretive in 2027 with no synergies assumed. Private capital connectivity has grown from ~25% of advisory revenue in 2019 to ~40% today and is targeted to be ~50% upon close.

Diversification of Advisory Capabilities

Growth and diversification across restructuring, liability management, capital solutions and private capital advisory noted as supporting more resilient revenue mix. Conflicts cleared for deals >$5 billion are up ~50% YoY, indicating stronger mandate pipeline and client engagement.

Recruiting and Talent Progress

Exceeded prior recruiting target with 28 net additions in 2025 (vs. target of 10–15 net additions), strong recruiting pipeline for 2026; ~40% of newly hired MDs remain in ramping periods, implying future productivity upside as hires mature.

Capital Allocation & Shareholder Returns

Returned $174 million to shareholders in Q1 (including $47 million dividend) and declared a quarterly dividend of $0.50 per share. Management emphasizes disciplined capital allocation and strengthening the balance sheet via the acquisition structure.

Lazard (LAZ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

LAZ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 23, 2026	2026 (Q2)	0.52 / -	0.52	―	―	―
May 01, 2026	2026 (Q1)	0.51 / 0.42	0.56	-25.00% (-0.14)
Jan 29, 2026	2025 (Q4)	0.69 / 0.80	0.78	2.56% (+0.02)
Oct 23, 2025	2025 (Q3)	0.44 / 0.56	0.38	47.37% (+0.18)
Jul 24, 2025	2025 (Q2)	0.40 / 0.52	0.52	0.00% (0.00)
Apr 25, 2025	2025 (Q1)	0.31 / 0.56	0.66	-15.15% (-0.10)
Jan 30, 2025	2024 (Q4)	0.51 / 0.78	0.66	18.18% (+0.12)
Oct 31, 2024	2024 (Q3)	0.39 / 0.38	0.1	280.00% (+0.28)
Jul 25, 2024	2024 (Q2)	0.35 / 0.52	0.24	116.67% (+0.28)
Apr 25, 2024	2024 (Q1)	0.55 / 0.66	-0.26	353.85% (+0.92)

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

LAZ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 01, 2026	$48.50	$45.13	-6.95%
Jan 29, 2026	$52.15	$53.32	+2.24%
Oct 23, 2025	$48.85	$48.19	-1.35%
Jul 24, 2025	$53.39	$53.04	-0.66%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Lazard Ltd. (LAZ) report earnings?

Lazard Ltd. (LAZ) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).

What is Lazard Ltd. (LAZ) earnings time?

Lazard Ltd. (LAZ) earnings time is at Jul 23, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is LAZ EPS forecast?

LAZ EPS forecast for the fiscal quarter 2026 (Q2) is 0.52.