The 30% revenue decline signals cyclical headwinds in advisory; watch for backlog conversion and integration of Gleacher Shacklock/Devon Park in coming quarters, which could support recovery. Short-term downside likely on the miss.
Price Chart
Executive Summary
PWP reported Q1 2026 revenue of $148.9M, down 30% YoY, with a GAAP operating loss of $12.9M and adjusted EPS of $0.05. The results reflect a tough M&A environment, though management noted a strong backlog and the Gleacher Shacklock acquisition adds UK advisory depth.
Key Financial Metrics
Key Facts
- Revenue $148.9M, down 30% YoY from $211.8M
- GAAP diluted EPS $0.02; adjusted EPS $0.05
- GAAP operating loss of $12.9M vs operating income of $11.7M a year ago
- Adjusted operating loss margin of -3.7%
- Cash balance $77.7M, no debt, undrawn credit facility
- Returned $63.8M to shareholders via share net settlement and dividends
- Declared quarterly dividend of $0.07 per share
- Backlog at two-year high; acquired Gleacher Shacklock to boost UK presence
Financial Impact
Revenue decline of $62.9M (30% YoY) drove a swing from operating profit to loss.
Risk Factors
- Sustained M&A slowdown affecting deal closings
- Talent retention in competitive advisory market
- Integration risk from recent acquisitions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3285817 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 31, 2026 12w ago | 8-K | $17.65 $17.50 | ▼ −0.85% | ▼ −4.36% | $12.77 (−27.65%) |
Jul 21, 2026 14w ago | Press Release | $15.67 | awaiting T+5 | — | $12.77 (−18.48%) |
Jun 12, 2026 19w ago | 144 | $16.01 $16.02 | ▲ +0.03% | ▲ +1.41% | $12.77 (−20.24%) |
May 1, 2026 25w ago | Press Release | $20.61 $18.38 | ▲ +10.82% | ▲ +13.17% | $12.77 (+38.04%) |
Apr 20, 2026 27w ago | Press Release | $21.31 $22.06 | ▲ +3.52% | ▲ +2.44% | $12.77 (−40.08%) |
Apr 13, 2026 28w ago | 8-K | $21.50 $21.31 | ▲ +0.88% | ▲ +2.28% | $12.77 (+40.60%) |
Apr 13, 2026 28w ago | Press Release | $20.96 $21.50 | ▲ +2.58% | ▼ −0.72% | $12.77 (−39.07%) |
US Market Status
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