Filing Flows › PJT Partners (PJT) › Q1 2026
PJT Partners (PJT) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
PJT Partners (PJT) reported revenue of $418M for the first quarter 2026 (Q1 2026), +29% from a year earlier and -22% from the quarter before. Operating margin was 19.2%, net earnings $60.5M (14.5% of revenue).
PJT Partners, Q1 2026: revenue $418M (+29% year over year), operating margin 19.2%, net earnings $60.5M, operating cash flow $64.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $418M | -22% | +29% |
| Operating profit | $80.4M | -35% | +53% |
| Net earnings | $60.5M | +13% | +12% |
| Operating cash flow | $64.3M | -59% | — |
| Free cash flow | $56.0M | -60% | — |
What changed
Revenue was $418.2M in Q1 2026, up 29% year over year and down 22% from the previous quarter.
Operating profit was $80.4M, a 19.2% margin (up 3.0 points year over year). Of the extra revenue versus Q1 2025, 30% reached operating profit, above the 16% margin then. Total costs grew 24% against revenue growth of 29%. Net earnings were $60.5M, up 12% year over year. The effective tax rate was -11.0%.
Operating cash flow was $64.3M, 72% of net income including minority interests. Non-cash charges added back $3.9M of depreciation and amortization and $85.1M of share-based compensation. Working capital and other items used $114.1M. Capital expenditures of $8.3M left free cash flow of $56.0M.
Questions
What was PJT Partners' revenue in the first quarter 2026?
PJT Partners (PJT) reported revenue of $418M for the first quarter 2026 (Q1 2026), +29% from a year earlier and -22% from the quarter before.
Was PJT Partners profitable in the first quarter 2026?
Operating profit was $80.4M (19.2% of revenue) and net earnings $60.5M.
Source: PJT Partners 10-Q on SEC EDGAR.