The 53% revenue surge and 179% adjusted pre-tax income growth signal a strong inflection in advisory fee activity. Monitor the Q4 pipeline and whether the Gleacher Shacklock acquisition sustains the elevated fee event cadence into 2027.
Price Chart
Executive Summary
Perella Weinberg Partners reported Q3 2026 revenue of $251.4M, up 53% YoY, and adjusted EPS of $0.39, well above the $0.14 consensus. The strong beat was driven by a higher number of fee-paying clients and larger fee events, alongside the completed Gleacher Shacklock acquisition. The company maintained its $0.07 quarterly dividend and ended the quarter with $150M cash and no debt.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $251.4M, up 53% from $164.6M in Q3 2025
- GAAP diluted EPS of $0.21 vs $0.08 a year ago; adjusted EPS of $0.39 vs $0.13 a year ago
- Adjusted pre-tax income of $56.5M vs $20.3M a year ago, up 179%
- Adjusted operating margin improved to 22.8% from 10.6% a year ago
- Closed acquisition of Gleacher Shacklock on September 1, 2026
- Year-to-date returned $88.3M to equity holders via share repurchases and dividends
- Ended quarter with $150M cash, no debt, and undrawn revolver
- Declared quarterly dividend of $0.07 per share
Financial Impact
Revenue beat consensus by 45.5% ($251.4M vs $172.8M); adjusted EPS of $0.39 vs consensus $0.14 (beat by 178.6%)
Risk Factors
- Advisory revenue is inherently lumpy and event-driven; Q3's strong performance may not be linear
- Business realignment costs of ~$28M total through end of 2026 will continue to weigh on GAAP results
- Compensation margin at 63% (adjusted) remains high, limiting operating leverage if revenue normalizes
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001777835-26-000110 |
| Document: pwp-20261029.htm | 0001777835-26-000110 |
| Document: 0001777835-26-000110-index-headers.html | 0001777835-26-000110 |
| Document: 0001777835-26-000110-index.html | 0001777835-26-000110 |
| Document: 0001777835-26-000110.txt | 0001777835-26-000110 |
| 8-K Data (Synthetic) | 0001777835-26-000110 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | SC 13G/A | $14.53 | awaiting T+5 | awaiting T+5 | $14.73 (+1.41%) |
Oct 29, 2026 3d ago | 8-K | No price | awaiting T+5 | awaiting T+5 | No price |
Oct 29, 2026 3d ago | Press Release | $14.00 | awaiting T+5 | awaiting T+5 | $14.73 (+5.21%) |
Jul 31, 2026 13w ago | 8-K | $17.65 $17.50 | ▼ −0.85% | ▼ −4.36% | $14.73 (−16.54%) |
Jul 21, 2026 14w ago | Press Release | $15.67 | awaiting T+5 | awaiting T+5 | $14.73 (−5.97%) |
Jun 12, 2026 20w ago | 144 | $16.01 $16.02 | ▲ +0.03% | ▲ +1.41% | $14.73 (−8.00%) |
May 1, 2026 26w ago | Press Release | $20.61 $18.38 | ▲ +10.82% | ▲ +13.17% | $14.73 (+28.53%) |
Apr 20, 2026 27w ago | Press Release | $21.31 $22.06 | ▲ +3.52% | ▲ +2.44% | $14.73 (−30.88%) |
Apr 13, 2026 28w ago | 8-K | $21.50 $21.31 | ▲ +0.88% | ▲ +2.28% | $14.73 (+31.49%) |
Apr 13, 2026 28w ago | Press Release | $20.96 $21.50 | ▲ +2.58% | ▼ −0.72% | $14.73 (−29.72%) |
US Market Status
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