Filing Flows › PJT Partners (PJT) › Q3 2026
PJT Partners (PJT) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
PJT Partners (PJT) reported revenue of $385M for the third quarter 2026 (Q3 2026), -14% from a year earlier and -21% from the quarter before. Operating margin was 17.9%, net earnings $31.8M (8.3% of revenue).
PJT Partners, Q3 2026: revenue $385M (-14% year over year), operating margin 17.9%, net earnings $31.8M, operating cash flow $276M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $385M | -21% | -14% |
| Operating profit | $68.8M | -33% | -24% |
| Net earnings | $31.8M | -31% | -20% |
| Operating cash flow | $276M | +16% | +8% |
| Free cash flow | $267M | +18% | +11% |
What changed
Revenue was $385.1M in Q3 2026, down 14% year over year and down 21% from the previous quarter.
Operating profit was $68.8M, a 17.9% margin (down 2.5 points year over year). Total costs fell 11% while revenue fell 14%. Net earnings were $31.8M, down 20% year over year. The effective tax rate was 18.6%.
Operating cash flow was $275.7M (up 8% year over year), 492% of net income including minority interests. Non-cash charges added back $4.2M of depreciation and amortization and $52.0M of share-based compensation. Working capital and other items added $163.5M. Capital expenditures of $8.7M left free cash flow of $267.0M.
Questions
What was PJT Partners' revenue in the third quarter 2026?
PJT Partners (PJT) reported revenue of $385M for the third quarter 2026 (Q3 2026), -14% from a year earlier and -21% from the quarter before.
Was PJT Partners profitable in the third quarter 2026?
Operating profit was $68.8M (17.9% of revenue) and net earnings $31.8M.
Source: PJT Partners 10-Q on SEC EDGAR.