Lazard's earnings call reflects a strong performance with record revenue in Financial Advisory and positive trends in Asset Management, despite some challenges such as high gross outflows and increased tax rates. The firm shows robust growth in hiring and strategic transactions, with a cautious outlook on regulatory and tariff uncertainties.

Company Guidance -

Q3 2025

During Lazard's Second Quarter 2025 Earnings Conference Call, the company reported strong financial performance with firm-wide adjusted net revenue of $770 million for the quarter, marking a 12% increase from the previous year. Financial Advisory saw a record adjusted net revenue of $491 million, a 20% rise year-over-year, with significant transactions including CD&R's acquisition of a controlling stake in Sanofi's consumer health unit. Asset Management also delivered solid results with adjusted net revenue of $268 million, experiencing positive net flows and a 10% increase in assets under management (AUM) year-to-date, reaching $248 billion. Notably, Lazard's focus on private capital has grown, with over 40% of Financial Advisory revenue coming from this segment, and the firm is on track to achieve its 2030 goal of expanding its team of Financial Advisory managing directors by 10 to 15 net per year, having hired 14 so far in 2025. The adjusted compensation ratio remained flat at 65.5%, while the adjusted effective tax rate for the quarter was notably higher at 36.5% compared to 14% the previous year. The company anticipates a more constructive business environment for M&A activity, driven by strong underlying factors such as technology innovation and favorable financing markets.

Record First Half Revenue for Financial Advisory

Financial Advisory achieved a record first half of the year with adjusted net revenue of $861 million, demonstrating the geographic and product diversity of Lazard's business.

Strong Asset Management Performance

Asset Management reported adjusted net revenue of $533 million for the first half of the year, with positive net flows in the quarter, record gross inflows, and AUM increasing by 10% year-to-date.

Successful M&A Transactions

Lazard participated in several marquee transactions, including CD&R's acquisition of a controlling 50% stake in Sanofi's consumer health unit and Ferrero International's agreement to acquire WK Kellogg Co.

Expansion in Hiring and Talent Acquisition

Lazard hired 14 Financial Advisory managing directors in 2025, achieving or potentially exceeding the 2030 objective of expanding the team by 10 to 15 net per year.

Record Gross Inflows in Asset Management

Record gross inflows in the first half of the year due to strong investment performance and enhanced sales and distribution focus.

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
Oct 23, 2025	2025 (Q3)	0.51 / -	0.38	―	―	―
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)
Feb 01, 2024	2023 (Q4)	0.36 / 0.66	0.69	-4.35% (-0.03)
Oct 26, 2023	2023 (Q3)	0.16 / 0.10	1.05	-90.48% (-0.95)
Jul 27, 2023	2023 (Q2)	0.11 / 0.24	0.92	-73.91% (-0.68)

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
Jul 24, 2025	$54.42	$54.06	-0.66%
Apr 25, 2025	$39.00	$37.79	-3.10%
Jan 30, 2025	$51.08	$53.44	+4.62%
Oct 31, 2024	$48.70	$50.90	+4.52%

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 (LAZ) report earnings?

Lazard (LAZ) is schdueled to report earning on Oct 23, 2025, Before Open (Confirmed).

What is Lazard (LAZ) earnings time?

Lazard (LAZ) earnings time is at Oct 23, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

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 2025 (Q3) is 0.51.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing