Lazard Earnings: Here’s Why the Stock is Rising Now

Lazard Ltd. (NYSE:LAZ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.5%.

Lazard Ltd. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 80% to $0.45 in the quarter versus EPS of $0.25 in the year-earlier quarter.

Revenue: Rose 11.76% to $511 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Lazard Ltd. reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.33. It beat the average revenue estimate of $449.91 million.

Quoting Management: “Lazard continues to perform well in challenging global market conditions,” said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “We remain focused on serving our clients while we manage the firm for profitable growth and shareholder value over the long term.” “Financial Advisory has been active in many of the most significant assignments for corporate and sovereign clients around the world. The breadth and depth of our advisory services offset the uneven pace of global M&A activity,” said Mr. Jacobs. “In Asset Management, we continue to broaden our investment platforms in anticipation of client needs. The diversification of our investment solutions and our global client base position Asset Management well for long-term growth.”

Key Stats (on next page)…

Revenue increased 21.07% from $422.06 million in the previous quarter. EPS increased 60.71% from $0.28 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.48 to a profit $0.42. For the current year, the average estimate has moved down from a profit of $1.92 to a profit of $1.65 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)