Perella Weinberg Partners Stock Earnings Reports

Perella Weinberg reported Q1 2026 revenue of $149 million, down 30% year-over-year, which management says does not reflect the underlying health of the business. Announced & pending backlog and pipeline activity are at multi-quarter highs, and client engagement is strong, but deal timelines are elongated (longer to get mandates, announce and close), leading management to expect revenue to be meaningfully back-half weighted for the year. The firm announced the acquisition of Gleacher Shacklock to substantially strengthen its U.K./European presence (5 partners added) and highlighted prior talent and Devon Park acquisitions as part of platform scaling. Adjusted compensation margin was elevated at 79% in Q1 due to a lower revenue denominator, higher non-bonus comp and timing of RSU vestings; management expects the comp margin to normalize toward historical targets as revenue builds. Adjusted non-comp expense fell 24% year-over-year and full-year non-comp expense is expected to be down single digits vs. 2025. Capital returns: nearly $64 million returned in Q1 via dividends and RSU settlements, quarterly dividend declared of $0.07 per share; cash of $78 million and no debt at quarter end. Restructuring and liability management remain steady after a strong 2025, while energy M&A is muted amid the geopolitical-driven oil shock. Management reiterated confidence in long-term opportunity despite near-term variability and emphasized that timing — not pipeline quality — is the main driver of the weak Q1 results.