Moelis & Company's Q3 Earnings Top as Revenues Rise & Expenses Fall [Yahoo! Finance]
Moelis & Company Class A (MC)
Last moelis & company class a earnings: 4/22 04:15 pm
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Source: Yahoo! Finance
The bottom line improved from a loss of 15 cents per share in the prior-year quarter. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Results benefited from a rise in revenues and other income alongside lower operating expenses. Also, the company had a solid liquidity position in the quarter. Net income (GAAP basis) was $19.2 million against a loss of $11.4 million in the prior year quarter. Total revenues (GAAP basis) grew marginally year over year to $273.8 million. This was driven by a rise in mergers & acquisition (M&A) revenues, partially offset by a modest dip in non-M&A revenues. Moreover, the top line surpassed the Zacks Consensus Estimate of $269.6 million. Total operating expenses (GAAP basis) were $258.2 million, down 11.6%. The decline was due to a decrease in both compensation and benefits costs and non-compensation expenses. Our estimates for total operating expenses were $245.6 million. Other income (GAAP basis) was $11.1 million in
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News
- Moelis & Company (NYSE: MC) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating. They now have a $86.00 price target on the stock, up previously from $71.00.MarketBeat
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MC
Earnings
- 10/23/24 - Beat
MC
Sec Filings
- 12/4/24 - Form 4
- 12/4/24 - Form 4
- 12/4/24 - Form 4
- MC's page on the SEC website