Lazard, Inc. operates as a financial advisory and asset management firm in the Americas, Europe, the Middle East, Africa, and the Asia ...
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Est. EPS $2.23 · Revenue $3.33B · 5 analysts
Est. EPS $0.96 · Revenue $993.74M · 3 analysts
Est. EPS $1.39 · Revenue $1.17B · 3 analysts
Est. EPS $3.85 · Revenue $3.97B · 5 analysts
$2.00 per share
$2.00 per share
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $3.2B | +3.2% | +7.6% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $236.8M | -15.4% | -95.2% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +31.8% | -9.4% | +168.4% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +13.0% | +4.1% | -66.6% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +7.4% | -18.1% | -95.6% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $505.2M | -27.5% | +192.8% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +15.9% | -29.8% | +186.3% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 295.0% | -14.4% | -4.0% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 29.35x | +905.6% | — |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $4.9B | +3.1% | +2.9% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 2.17 vs 2.35 | -7.6% | 0.04 vs 0.96 | -95.3% |
| Revenue Surprise | $3.2B vs $3.0B | +7.6% | $830.2M vs $993.7M | -16.5% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | Orszag Peter Richard | director, officer: CEO & Chairman | Common Stock | D | 125,000 | $43.52 |
| Aug 24, 2026 | Orszag Peter Richard | director, officer: CEO & Chairman | Stock Price Profits Interest Participation Rights | D | 250,000 | — |
| Aug 24, 2026 | Orszag Peter Richard | director, officer: CEO & Chairman | Common Stock | A | 250,000 | — |
| Aug 24, 2026 | Orszag Peter Richard | director, officer: CEO & Chairman | Common Stock | D | 75,000 | — |
| Aug 17, 2026 | Howe Stephen R. Jr. | director | Deferred Stock Units | A | 103 | — |
Operator : Good morning, and welcome to Lazard's Second Quarter 2026 Earnings Conference Call. This call is being recorded. At this time, I will turn the call over to William Murdock, Lazard's Head Strategy and Investor Relations. Please go ahead. William Murdock : Thanks, Helen. Good morning, and welcome to Lazard's earnings call for the second quarter and first half of 2026. I'm William Murdock, Head of Strategy and Investor Relations. In addition to today's audio comments, we have posted our earnings release on our website. A replay of this call will also be available on our website here today. Before we begin, let me remind you that we may make forward-looking statements about our business and performance. There are important factors that could cause our actual results, level of activity, performance achievements or other events to differ materially from those expressed or implied by the forward-looking statements, including but not limited to those factors set in the company's SEC filings, which you can access on our website. Lazard assumes no responsibility for the accuracy or completeness of these forward-looking statements and assumes no duty to update them. Please also note that unless we state otherwise, all financial measures we discuss today are non-GAAP adjusted financial measures. We believe these non-GAAP financial measures are meaningful when evaluating the company's performance. A reconciliation of these non-GAAP financial measures to the comparable GAAP measure is provided in our earnings release and our investor presentation. Hosting our call today are Peter Orszag, Lazard's Chief Executive Officer and Chairman; and Tracy Farr, as Chief Financial Officer. After our prepared remarks, Chris Hogbin, Chief Executive Officer of Asset Management, will join as we open for questions. I'll now turn the call over to Peter. Peter Orszag : Thank you, William, and thank you to everyone for joining our call today. Firm-wide adjusted net revenue was $786 million for the second quarter and $1.5 billion for the first half of the year. Before Tracy takes you through the numbers. It has now been almost 3 years since we issued our Lazard 2030 plan, and so it seems appropriate to discuss where we are in our efforts to transform our firm for long-term profitable growth. When we laid out our vision for Lazard 2030, we said we would measure success through relevance, revenue and returns. We're seeing tangible progress across all 3. In the first half of this year, Financial Advisory achieved its strongest announced lead table position since 2014. Asset Management delivered its best first half net inflows in nearly 20 years and reached its highest reported AUM level ever. That progress is driven by the role we play for clients. Increasingly, board CEOs and asset owners are turning to Lazard for their most consequential decisions and investments. We believe this expanding client activity is due to our ability to deliver what we call contextual alpha …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Peter R. Orszag | Chief Executive Officer & Chairman | USD 5,056,904 | Male | 1969 | Active |
Christopher Edward Geroge Hogbin | Chief Executive Officer of Lazard Asset Management LLC | USD 4,525,248 | Male | — | Active |
Alexandra Soto | Chief Operating Officer | USD 2,612,348 | Female | 1968 | Active |
Christian A. Weideman | General Counsel | USD 1,719,097 | Male | 1976 | Active |
Tracy Farr | Chief Financial Officer | USD 1,611,987 | Male | 1984 | Active |
Evan Lawrence Russo | Senior Advisor | USD 974,738 | Male | 1975 | Active |
Raymond J. McGuire | President & Co-Head of Financial Advisory in North America | — | Male | 1957 | Active |
Pierre Tattevin | Managing Director | — | Male | 1957 | Active |
David S. Kurtz | Vice Chairman of U.S. Investment Banking & Head of Global Restructuring | — | Male | — | Active |
Michael Gathy | Managing Director & Chief Accounting Officer | — | Male | — | Active |
Shannon Houston | Global Head of Communications & Marketing | — | Female | — | Active |
Bank of New York Mellon Corp lowered its stake in Lazard, Inc. (NYSE: LAZ) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 477,912 shares of the asset manager's stock after selling 23,842 shares during the
Chris Bricker joins as Head of Corporate Development Theodore P. "TP" Enders joins as Head of Product NEW YORK, July 27, 2026 /PRNewswire/ -- Lazard Asset Management (LAM) today announced the appointment of two senior leaders as it advances its long-term growth strategy: Chris Bricker joins as Head of Corporate Development, and Theodore P.
Lazard shows strength in Asset Management, with revenue up 23% YoY and positive fee mix shifts on AUM growth. Advisory faces headwinds from geopolitics, rising capital costs and associated subdued private equity M&A, limiting near-term catalysts. Strategic activity and restructuring support advisory, but DCM and ECM outlook remains weak amid ongoing market uncertainty driven by capital cost risks.
On July 24, 2026, Lazard Inc (LAZ) shares rose 3.0% today, reaching a current price of $44.35. The stock has experienced a 52-week range between $38.67 and $58.
Lazard's Q2 results are hurt by weaker Financial Advisory revenues and higher expenses. Shares fell 1.2% despite growth in Asset Management and AUM.
