MC

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Moelis stock sits at an interesting valuation crossroads right now. The Excess Returns intrinsic value estimate points to meaningful upside from the current US$66.60 share price, while the earnings multiple screen suggests the stock trades at a richer level, and the broader checks sit in the middle. Moelis has returned 64.3% over the past 3 years, which puts recent short term weakness into a longer track record of gains. Future advisory fee growth and deal activity can support the intrinsic value case, while any pressure on transaction volumes or pricing remains a key risk for how much of that value is realised. The valuation checks are mixed, with Moelis screening as attractive on 3 of 6 measures, which points to neither a clear bargain nor a clearly expensive stock overall according to the value score. The issue now is whether Moelis' current price better reflects the richer earnings multiple signal or the Excess Returns estimate that suggests the stock still trades below intrinsic value. Find out why Moelis' -5.8% return over the last year is lagging behind its peers. The Excess Returns model looks at how much profit Moelis generates on its equity base after covering the cost of that equity. For Moelis, the inputs indicate a company earning well above that hurdle, with an average return on equity of 54.05% on a book value of $6.83 per share and a calculated excess return of $3.67 per share. The model uses a stable EPS figure of $4.29 per share, based on weighted future Return on Equity estimates from 4 analysts, and a stable book value of $7.94 per share from 3 analyst estimates. After accounting for a cost of equity of $0.63 per share, this stream of excess returns is capitalised into an intrinsic value estimate of $95.82 per share, compared with the current Moelis share price around $66.60. On this basis, the stock screens as roughly 30.5% undervalued. On the Excess Returns view, Moelis stock appears undervalued relative to the earnings power implied by its equity base. Our Excess Returns analysis suggests Moelis is undervalued by 30.5%. Track this in your watchlist or portfolio, or discover 49 more high quality undervalued stocks. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Moelis. The P/E ratio is a useful metric for Moelis because earnings are a primary factor in how investors value advisory-focused capital markets companies. At the current US$66.60 share price, Moelis trades on a P/E of about 21.6x. That sits below the wider Capital Markets industry average of 37.4x, yet above the peer group average of 19.5x. The tailored fair P/E for Moelis, which considers its size, margins, sector and risk profile, is 15.6x. That is meaningfully below the current 21.6x multiple. On this framework, the stock trades at a premium to what the model suggests would be in line with its fundamentals, even if it does not appear stretched against the broader industry. On the P/E lens, Moelis stock appears overvalued relative to the fair multiple implied by its fundamentals and peer group. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives for Moelis pick up where this valuation puzzle leaves off. They spell out which assumptions on Moelis' future growth, margins and earnings would need to hold for the stock to be worth materially more or less than today's price, and sit on the company’s Community page. Rather than relying on a single multiple or model, each Narrative sets out its own assumptions so you can compare them with the actual results as they come through. The community is split on Moelis, with one camp focused on expansion upside and another worried about fee pressure and business model risk. Bull case: 6% undervalued Read the full Bull Case to see why Moelis could be undervalued Bear case: 11% overvalued Read the full Bear Case to see why Moelis could be overvalued Do you think there's more to the story for Moelis? Head over to our Community to see what others are saying! For Moelis, the Excess Returns intrinsic value estimate points to meaningful upside, while the P/E view signals that the stock already trades on a richer multiple than its tailored fair ratio. That split reflects different drivers. The intrinsic value view leans on how efficiently Moelis uses its equity base, while the multiple view hinges on what investors are currently willing to pay for that earnings profile versus peers. The key question from here is whether advisory fee growth and deal activity are strong and durable enough to justify the current premium multiple, or whether the market instead prices in fee pressure and thinner economics. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include MC. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Moelis & Company? Here are five stocks we like better. Moelis reported record results: Second-quarter revenue rose 12% year over year to $409 million, while first-half revenue increased 9% to $729 million. Management said the firm entered the second half with a record pipeline, including an announced pipeline more than 80% above the prior-year level. M&A and growth businesses strengthened: Improving financing conditions and demand for scale supported larger transactions, while capital markets and private capital advisory revenue helped offset weaker capital structure advisory results. Moelis also expects additional IPO activity and continued expansion in private-market advisory. Profitability and shareholder returns improved: The adjusted pretax margin increased to 18.6% in the second quarter, and the company returned approximately $246 million to shareholders in the first half through dividends and share repurchases. Moelis ended the quarter with $481 million in cash and no debt. Burger King’s Turnaround Is Putting Restaurant Brands Back in Focus Moelis & Company (NYSE:MC) reported record second-quarter and first-half revenue for 2026, citing higher average fees per completed transaction and growing contributions from its capital markets and private capital advisory businesses. Second-quarter revenue totaled $409 million, up 12% from a year earlier, while first-half revenue reached $729 million, an increase of 9%. Chief Executive Officer and Co-Founder Navid Mahmoodzadegan said the firm entered the second half with a record total pipeline, including an announced pipeline that was more than 80% higher than at the same point a year earlier. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring “Client engagement and transaction activity has remained strong,” Mahmoodzadegan said, despite market volatility related to the Middle East war, concerns around private-credit redemptions, and the evolving effects of artificial intelligence. Mahmoodzadegan said improving financing availability, strong equity-market performance, demand for greater scale, and what he described as a more constructive regulatory environment have supported M&A activity. The firm has seen increased opportunities involving larger-capitalization clients and higher average fee opportunities. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Gen Z Trends Make These 3 Stocks Worth Watching He said industry activity has been concentrated in transactions valued above $5 billion, though Moelis observed an increase during the second quarter in deals valued between $1 billion and $5 billion. Mahmoodzadegan said that trend could signal a broader expansion of the M&A market into the middle market. Among transactions cited during the quarter, Moelis advised on: Taylor Morrison’s $8.5 billion sale to Berkshire Hathaway; Magnolia Oil & Gas’ $4.1 billion acquisition of WildFire Energy; AtaiBeckley’s $3.8 billion sale to Eli Lilly; and Bridgepoint’s acquisition of Kayne Anderson Real Estate. → AMD’s AI Bubble Could Burst Into Explosive Upside The firm also advised Office Properties Income Trust on its $2.4 billion restructuring, Carlyle on a continuation vehicle for Content Partners, and served as active bookrunner and lead placement agent for Doncasters’ $1.1 billion initial public offering and concurrent private placement. Mahmoodzadegan characterized the current point in the M&A cycle as “early innings,” pointing to technology disruption, companies’ need for scale, sponsor portfolio assets awaiting exits, and the regulatory backdrop as factors that could support activity over time. He cautioned that transaction volumes could still experience periodic fluctuations. Capital markets and private capital advisory were the primary sources of growth during the first half, partially offsetting declines in capital structure advisory revenue. For the first half, Moelis’ revenue mix was approximately two-thirds M&A and one-third non-M&A. The capital markets business generated record second-quarter and first-half revenue, supported by demand for late-stage growth and pre-IPO financings, IPO activity, and demand for hybrid and structured financing solutions. The firm expects additional IPO activity later in the year. Moelis has added senior talent to broaden the platform, including a managing director with debt capital markets and private-credit expertise and another who will help establish securitization capabilities. Mahmoodzadegan said the securitization effort will expand the firm’s structured-products offering and asset-backed financing capabilities. Private capital advisory was also a meaningful contributor to first-half growth. Moelis has expanded its GP-led secondaries team to seven dedicated managing directors, including one expected to join shortly. The firm also hired managing directors to launch LP-led secondaries and promoted co-investment capabilities. Mahmoodzadegan said GP-led continuation vehicles have ramped relatively quickly because of the firm’s sponsor relationships and collaboration between sector bankers and private capital advisory teams. He said the firm expects the business to achieve revenue per managing director generally in line with the broader firm over time, although some areas, such as primary fundraising, may take longer to develop. Chief Financial Officer Chris Callesano said Moelis’ adjusted compensation ratio was 65.8% in both the second quarter and first half, compared with 69% in the comparable 2025 periods. The company expects to continue improving the compensation ratio during 2026, with the pace dependent on revenue, senior hiring and the market for talent. Adjusted non-compensation expenses were $66.5 million during the second quarter, equal to 16.2% of revenue. First-half adjusted non-compensation expenses were $134 million, or 18.3% of revenue. The expense increase reflected higher transaction-related travel and entertainment, client conference costs, underwriting syndication costs tied to expanding public equity capital markets activity, technology and data investments including AI, and higher occupancy costs. Callesano said quarterly non-compensation expenses are expected to run in the mid- to high-$60 million range for the remainder of the year. He added that, excluding distinct transaction-related underwriting syndication costs, non-compensation expense growth would have tracked the company’s original forecast. Adjusted pre-tax margin improved to 18.6% in the second quarter from 17.6% a year earlier, and to 17% in the first half from 16%. The company’s second-quarter effective tax rate was 29.1%. The board declared a quarterly dividend of $0.65 per share, unchanged from the prior quarter. Moelis repurchased approximately 337,000 shares in the second quarter at an average price of $64.43 per share. During the first half, it repurchased about 2.3 million shares through open-market repurchases and net share settlements at a total cost of about $141 million. Including the declared dividend, the company said it returned approximately $246 million of capital to shareholders in the first half. It ended the quarter with $481 million in cash and no debt. Moelis hired four managing directors since its prior earnings call, bringing year-to-date lateral managing director hires to 12. The company also promoted 13 managing directors internally at the beginning of the year. The recent hires included bankers focused on private capital advisory, capital structure advisory, and European infrastructure. Mahmoodzadegan said competition for senior bankers remains intense, but the firm is focused on recruiting and retaining talent that fits its collaborative culture. Of the 12 lateral managing director hires this year, he said about five were sector bankers and seven were product bankers spanning M&A, private capital advisory and capital markets. On AI, management said the company is testing and deploying tools across its workflows, with the goal of improving productivity and client service. Callesano said many of the firm’s AI tools are currently under fixed contracts without variable costs for higher usage through part of next year. Mahmoodzadegan said Moelis is also focused on safeguarding client information and proprietary data as AI adoption expands. While he expects some AI tools to become broadly available across the industry, he said the firm believes effective adoption can help bankers generate ideas, improve advice and operate more efficiently. Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Moelis & Company Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Revenue: $409 million in Q2 2026, up 12% year-over-year; $729 million in the first half of 2026, up 9% year-over-year. Both represent record revenues for the quarter and first half. Business Mix: For the first half of 2026, approximately two-thirds M&A and one-third non-M&A. Adjusted Compensation Ratio: 65.8% for both Q2 and the first half of 2026, compared to 69% in the prior-year periods. Adjusted Non-Compensation Expenses: $66.5 million in Q2 2026, with a 16.2% ratio; $134 million in the first half of 2026, with an 18.3% ratio. Adjusted Pre-Tax Margin: 18.6% for Q2 2026 and 17% for the first half of 2026, compared to 17.6% and 16% in the prior-year periods. Effective Tax Rate: 29.1% for Q2 2026, roughly in line with Q2 2025. Dividend: Regular quarterly dividend of $0.65 per share declared. Share Repurchases: Approximately 337,000 shares repurchased in Q2 2026 at an average price of $64.43 per share; approximately 2.3 million shares repurchased in the first half of 2026 for a total cost of approximately $141 million. Capital Returned to Shareholders: Approximately $246 million returned in the first half of 2026, including the declared dividend. Cash Position: $481 million in cash and no debt at the end of Q2 2026. Pipeline: Announced pipeline increased over 80% versus the prior-year period at the end of Q2 2026; record total pipeline entering the second half of the year. Warning! GuruFocus has detected 3 Warning Sign with MC. Is MC fairly valued? Test your thesis with our free DCF calculator. Release Date: July 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record revenues for both Q2 and first half of 2026, driven by higher average fees per completed transaction and strong contributions from non-M&A businesses. Announced pipeline increased over 80% year-over-year, with a record total pipeline entering the second half, supporting a strong outlook. Capital Markets business achieved record revenues, driven by constructive market conditions and strong demand for late-stage growth and IPO activity. Private Capital (Trades, Portfolio) Advisory (PCA) franchise is a meaningful contributor to revenue growth, with significant momentum in deal completions and new-client mandates. Continued investment in talent with 12 lateral Managing Director hires year-to-date, enhancing capabilities across sectors and products. Market volatility persists due to geopolitical tensions, private-credit redemption concerns, and the evolving impact of AI. Capital Structure Advisory (CSA) revenues declined, as liability management dominates deal activity amid lender selectivity. Sponsor M&A activity remains modest industry-wide, with challenges in exiting portfolio companies at desired valuations due to higher rate environments and technology disruption. Non-compensation expenses increased due to higher deal-related costs, underwriting syndication costs, and investments in technology and AI. Competitive market for senior talent continues to pressure compensation costs, requiring careful balance between investment and margin improvement. Q: Can you talk about the key drivers of Moelis' progress in winning roles on larger strategic transactions and where you are focusing efforts to sustain that?A: Navid Mahmoodzadegan, CEO and Co-Founder: The M&A market has been geared towards larger transactions, particularly the $5 billion-plus range, though we are also seeing an upswing in the $1 billion to $5 billion tier. Our increased activity on larger deals is due to a combination of market conditions, the maturation of talent we've assembled through lateral hires and internal development, and a better organizational focus on marshaling resources around bigger-cap opportunities. Q: How is the increasingly competitive environment for senior talent affecting your hiring plans and returns, and what industries, geographies, or products are you targeting?A: Navid Mahmoodzadegan, CEO and Co-Founder: The market for hiring and retaining world-class bankers is very competitive. We focus on best-in-class talent that fits our collaborative culture. Of the 12 MDs hired laterally this year, about five are in sectors like energy, industrials, and healthcare, while seven are product bankers in M&A, PCA, and Capital Markets. We balance this with internal promotions, having promoted 13 MDs this year, and aim to keep both engines humming. Q: With a record backlog, can the typical seasonal second-half revenue pick-up play out this year similar to prior years?A: Navid Mahmoodzadegan, CEO and Co-Founder: I won't make specific predictions, but our overall pipeline is at a record level. More importantly, the announced pipeline is up 80% versus a year ago, giving us strong visibility. Combined with new business activity and feedback from our bankers, we feel really good about the overall level of activity and are encouraged about the second half. Q: What are your observations on how AI is impacting the software space, and how are sponsors approaching the uncertainty?A: Navid Mahmoodzadegan, CEO and Co-Founder: We see a clear differentiation playing out. Some software companies are net beneficiaries of AI, adopting and thriving, which is leading to M&A and capital raising. Others are being materially disrupted, creating opportunities for liability management and balance sheet work, which our tech and CSA teams are pursuing. In the middle, it's too early to tell, and those companies may explore capital markets trades or continuation vehicles. Our collaborative model allows sector and product teams to work together to bring solutions to sponsor clients. Q: How would you characterize where we are in the M&A cycle and how long can it continue to grow?A: Navid Mahmoodzadegan, CEO and Co-Founder: I still think we are in the early innings of the M&A cycle. Factors promoting M&Asuch as the need for scale, technology disruption, the large number of sponsor portfolio companies needing exits, and a more relaxed regulatory environmentare likely to be around for a while. There will be ups and downs, but the underlying forces are strong. Q: Can you help us think about your structural margin profile over time, weighing a higher comp ratio against a lower non-comp ratio?A: Navid Mahmoodzadegan, CEO and Co-Founder: We've done a good job bringing our comp ratio back in line with historical levels while investing in talent. We are committed to bringing the comp ratio down further over time as revenues grow, which will also give us more leverage over our non-MD cost base and non-comp expenses. Chris Callesano, CFO, added that pre-tax margins have improved sequentially and year-over-year, and we target leverage over time. Q: Sponsor engagement is important for your franchise. Why hasn't it improved more broadly, and what are you watching for?A: Navid Mahmoodzadegan, CEO and Co-Founder: Engagement with sponsors is very high. The issue is not engagement but the difficulty in exiting portfolio companies bought in a different rate and growth environment, where values don't yet correspond to expected returns. It will take time for those companies to grow into valuations or for sponsors to decide to move assets. We are seeing some improvement in the $1 billion to $5 billion range. Meanwhile, our Capital Markets and CV businesses provide creative solutions for partial liquidity. Q: Regarding the growing PCA business, what is the expected revenue per MD versus the rest of the firm, and how long will it take to get there?A: Navid Mahmoodzadegan, CEO and Co-Founder: The business should generally be in line with the rest of the firm on revenue per MD. Some parts, like GP-led continuation vehicles, have a quick ramp due to our collaborative model and deep sponsor relationships. Other areas, like primary fundraising, will take longer. We are well on our way to building a sizable PCA business across most of its components over the next few years. Q: Can you provide more color on the record Capital Markets performance and the outlook for the rest of the year?A: Navid Mahmoodzadegan, CEO and Co-Founder: The Capital Markets team is doing an exceptional job, spanning debt and equity, public and private, and soon securitization. The business is growing and dynamic, partially dependent on market strength, but we see a significant long-term opportunity to expand capabilities due to client demand for objective advice in navigating capital markets and private credit. Q: How do you think about the risks of AI, such as the idea that efficiency gains get competed away and margins don't improve?A: Navid Mahmoodzadegan, CEO and Co-Founder: We spend a lot of time protecting our data and information, which is our competitive moat. While some AI tools will be commoditized, how we adopt and incorporate them into workflows will improve our performance. Like past innovations (spreadsheets, mobile), AI can make bankers better, more efficient, and able to do more transactions, even if everyone has access to the same tools. The number of transactions per senior banker has increased over time. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Moelis & Company’s MC second-quarter 2026 adjusted earnings of 63 cents per share surpassed the Zacks Consensus Estimate by a penny. The bottom line increased 18.9% from the prior-year quarter.Results benefited from a rise in revenues. These were partially offset by an increase in expenses and lower other income. Also, the company had a solid liquidity position in the quarter.Net income (GAAP basis) was $55.1 million compared with $46.8 million in the prior-year quarter. Our estimate for the metric was $40.4 million. Total revenues (GAAP basis) in the quarter grew 12% year over year to $409.4 million. The top line beat the Zacks Consensus Estimate of $391.6 million. The increase was attributable to higher average fees earned per completed transaction.Total quarterly operating expenses (GAAP basis) were $336.6 million, up 10.4% year over year. The rise was due to an increase in compensation and benefits and non-compensation expenses. Our estimate for total operating expenses was $323.8 million.Other income (GAAP basis) was $2.5 million, down 30.1% from the prior-year quarter. We projected the metric to be $6.7 million.As of June 30, 2026, the company had cash and liquid investments of $481.1 million, with no funded debt. In the reported quarter, the company repurchased 0.3 million shares on the open market at an average price of $64.43 per share. MC’s continued expansion of its advisory capabilities, strong client engagement and momentum in transaction activity bode well. The company also continues to execute its growth strategy.  However, lower other income and rising expenses remain concerns. Moelis & Company price-consensus-eps-surprise-chart | Moelis & Company Quote Currently, Moelis & Company has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Jefferies Financial Group’s JEF second-quarter fiscal 2026 (ended May 31) adjusted earnings per share from continuing operations of $1.03 missed the Zacks Consensus Estimate of $1.09. However, the bottom line increased significantly from the prior-year quarter.Results were primarily aided by record investment banking advisory and underwriting net revenues, as well as record equities net revenues. However, a rise in expenses hurt Jefferies’ results to an extent.Lazard Inc.’s LAZ second-quarter 2026 adjusted earnings per share of 12 cents missed the Zacks Consensus Estimate of 42 cents. This compared unfavorably with earnings of 52 cents in the year-ago quarter.Lazard’s results were affected by lower revenues in the Financial Advisory segment and an increase in operating expenses. However, growth in the Asset Management segment and higher assets under management offered some support. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Moelis & Company (MC) : Free Stock Analysis Report Jefferies Financial Group Inc. (JEF) : Free Stock Analysis Report Lazard, Inc. (LAZ) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Moelis (MC) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.61%. A quarter ago, it was expected that this investment bank would post earnings of $0.59 per share when it actually produced earnings of $0.5, delivering a surprise of -15.25%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Moelis, which belongs to the Zacks Financial - Investment Bank industry, posted revenues of $409.39 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.56%. This compares to year-ago revenues of $365.38 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Moelis shares have lost about 0.2% since the beginning of the year versus the S&P 500's gain of 8.5%. While Moelis has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Moelis was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.76 on $418.58 million in revenues for the coming quarter and $3.17 on $1.69 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Investment Bank is currently in the top 9% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. MarketAxess (MKTX), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 7. This operator of bond trading platforms is expected to post quarterly earnings of $1.88 per share in its upcoming report, which represents a year-over-year change of -6%. The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level. MarketAxess' revenues are expected to be $217.34 million, down 1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Moelis & Company (MC) : Free Stock Analysis Report MarketAxess Holdings Inc. (MKTX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Record second quarter revenues of $409.4 million, up 12% from the prior year period Record first half revenues of $729.2 million, up 9% from the prior year period GAAP net income of $0.62 per share (diluted) and $1.10 per share (diluted) for the second quarter and first half of 2026, respectively; Adjusted net income of $0.63 per share (diluted) and $1.13 per share (diluted) for the second quarter and first half of 2026, respectively Second quarter 2026 Adjusted pre-tax margin of 18.6% versus 17.6% in the prior year period; first half 2026 Adjusted pre-tax margin of 17.0% versus 16.0% in the prior year period Continued to execute on our growth strategy: Strong balance sheet with cash and short-term investments of $481.1 million and no debt or goodwill NEW YORK, July 29, 2026--(BUSINESS WIRE)--Moelis & Company (NYSE:MC) today reported financial results for the second quarter ended June 30, 2026. The Firm's second quarter revenues of $409.4 million increased 12% from the prior year period. The Firm reported second quarter GAAP net income of $55.1 million, or $0.62 per share (diluted). On an Adjusted basis, the Firm reported net income of $54.1 million, or $0.63 per share (diluted) for the second quarter of 2026, as compared with net income of $45.5 million, or $0.53 per share (diluted), in the prior year period. The Firm's first half revenues of $729.2 million increased 9% from the prior year period. The Firm reported GAAP net income of $97.4 million, or $1.10 per share (diluted) for the first half of 2026. On an Adjusted basis, the Firm reported net income of $97.2 million, or $1.13 per share (diluted) in the first half of 2026, as compared with net income of $99.9 million, or $1.17 per share (diluted), in the prior year period. GAAP and Adjusted net income in the first half of 2026 include net tax benefits of approximately $0.11 per share (diluted) related to the settlement of share-based awards, as compared with net tax benefits of approximately $0.28 per share (diluted) in the prior year periods. "Our record second-quarter and first-half revenues reflect the depth of our client franchise and the continued expansion of our advisory capabilities. We are seeing strong client engagement and momentum in transaction activity, and we are well positioned to deliver exceptional outcomes for our clients while creating long-term value for our shareholders," said Navid Mahmoodzadegan, Chief Executive Officer and Co-Founder. The Firm’s revenues and net income can fluctuate materially depending on the number, size and timing of completed transactions as well as other factors. Accordingly, financial results in any particular quarter may not be representative of future results over a longer period of time. Currently 91% of the operating partnership (Moelis & Company Group LP) is owned by the corporate partner (Moelis & Company) and is subject to corporate U.S. federal and state income tax. The remaining 9% is owned by other partners of Moelis & Company Group LP and is primarily subject to U.S. federal tax at the partner level (certain state, local and foreign income taxes are incurred at the company level). The Adjusted results included herein apply certain adjustments from our GAAP results, including the assumption that 100% of the Firm’s operating result was taxed at our corporate effective tax rate. We believe the Adjusted results, when presented together with comparable GAAP results, are useful to investors to compare our performance across periods and to better understand our operating results. A reconciliation between our GAAP results and our Adjusted results is presented in the Appendix to this press release. GAAP and Adjusted (non-GAAP) Selected Financial Data (Unaudited) Revenues We earned revenues of $409.4 million in the second quarter of 2026, as compared with $365.4 million in the prior year period, representing an increase of 12%. For the first half of 2026, we earned revenues of $729.2 million, as compared with $672.0 million in the prior year period, representing an increase of 9%. The increase in revenues during both current year periods is attributable to an increase in average fees earned per completed transaction. We continue to execute on our growth strategy. Year-to-date, we have hired 12 Managing Directors, six of whom have joined the Firm across Private Credit Secondaries, Securitization, Debt Capital Markets and Private Credit, Energy, Chemicals, and Healthcare IT. The remaining six are expected to join later this year, including three in Private Capital Advisory, two in Europe focused on Sponsors and Infrastructure, and one in Capital Structure Advisory. Expenses The following tables set forth information relating to the Firm’s operating expenses. Total operating expenses on a GAAP basis were $336.6 million for the second quarter of 2026, as compared with $304.7 million in the prior year period. On an Adjusted basis, operating expenses were $335.8 million for the second quarter of 2026, as compared with $304.7 million in the prior year period. For the first half of 2026, total operating expenses on a GAAP basis were $615.8 million, as compared with $574.4 million in the prior year period. On an Adjusted basis, operating expenses were $613.4 million for the first half of 2026, as compared with $574.4 million in the prior year period. The increase in operating expenses in both current year periods is attributable to increased compensation and benefits and non-compensation expenses, as compared with the prior year periods. Compensation and benefits expenses on a GAAP and Adjusted basis were $269.4 million for the second quarter of 2026, as compared with GAAP and Adjusted compensation and benefits expenses of $252.1 million in the prior year period. For the first half of 2026, compensation and benefits expenses on a GAAP and Adjusted basis were $479.8 million, as compared with GAAP and Adjusted compensation and benefits expenses of $463.7 million in the prior year period. The increase in compensation and benefits expenses during both current year periods is primarily attributable to increased headcount, as compared with the prior year period. Non-compensation expenses on a GAAP basis were $67.2 million for the second quarter of 2026, as compared with $52.6 million in the prior year period. On an Adjusted basis, non-compensation expenses were $66.5 million for the second quarter of 2026, as compared with $52.6 million in the prior year period. For the first half of 2026, non-compensation expenses on a GAAP basis were $136.0 million, as compared with $110.8 million in the prior year period. On an Adjusted basis, non-compensation expenses for the first half of 2026 were $133.6 million, as compared with $110.8 million in the prior year period. The increase in non-compensation expenses during the second quarter and first half of 2026 are primarily attributable to increased deal-related travel and entertainment and client conferences, occupancy and depreciation expenses related to new office space, professional fees associated with our public equity capital markets business, communication and technology expenses driven by AI investment, and other expenses driven by increased business administration costs. Other Income (Expenses) Other income (expenses) on a GAAP basis was income of $2.5 million for the second quarter of 2026, as compared with $3.5 million in the prior year period. On an Adjusted basis, other income for the second quarter of 2026 was $2.7 million, as compared with $3.8 million in the prior year period. For the first half of 2026, other income (expenses) on a GAAP basis was $8.1 million, as compared with $9.7 million in the prior year period. On an Adjusted basis, other income for the first half of 2026 was $8.5 million, as compared with $9.9 million in the prior year period. Provision for Income Taxes The corporate partner (Moelis & Company) currently owns 91% of the operating partnership (Moelis & Company Group LP) and is subject to corporate U.S. federal and state income tax on its allocable share of earnings. The remaining 9% of activity is subject to certain state, local and foreign income taxes (including New York City Unincorporated Business Tax), which is accounted for at the partner level through the noncontrolling interests. For Adjusted purposes, we have assumed that 100% of the Firm’s second quarter 2026 operating results were taxed at our corporate effective tax rate of 29.1% resulting in a tax expense of approximately $22.2 million. Capital Management and Balance Sheet Moelis & Company continues to maintain a strong financial position, and as of June 30, 2026, we held cash and liquid investments of $481.1 million and had no funded debt on our balance sheet. The Board of Directors of Moelis & Company declared a regular quarterly dividend of $0.65 per share. The $0.65 per share will be paid on September 17, 2026, to common stockholders of record on August 10, 2026. During the second quarter of 2026, we repurchased 0.3 million shares on the open market at an average price of $64.43 per share. During the first half of 2026, we repurchased approximately 2.3 million shares through open market repurchases and net share settlements for a total cost of $140.8 million. Including the dividend declared today, we will have returned $246.4 million to shareholders with respect to the first half of 2026. Earnings Call We will host a conference call beginning at 5:00pm ET on Wednesday, July 29, 2026, accessible via telephone and the internet. Navid Mahmoodzadegan, Chief Executive Officer and Co-Founder, and Chris Callesano, Chief Financial Officer, will review our second quarter 2026 financial results. Following the review, there will be a question and answer session. Investors and analysts may participate in the live conference call by dialing +1 (833) 461 5787 and using meeting ID 263 383 779. Please dial in 15 minutes before the conference call begins. The conference call will also be accessible as a listen-only audio webcast through the Investor Relations section of the Moelis & Company website at www.moelis.com. For those unable to listen to the live broadcast, a replay of the call will be available approximately one hour after the live call ends. The replay can be accessed through the Investor Relations section of the Moelis & Company website at www.moelis.com. About Moelis & Company Moelis & Company ("Moelis") is a leading global independent investment bank that provides innovative strategic advice and solutions to a diverse client base, including corporations, governments, and financial sponsors. The Firm assists its clients in achieving their strategic goals by offering comprehensive integrated financial advisory services across all major industry sectors. Moelis’s experienced professionals advise clients on their most critical decisions, including mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, secondary transactions and primary fundraising, and other corporate finance matters. The Firm serves its clients from locations across North and South America, Europe, the Middle East, and Asia-Pacific. For further information, please visit: www.moelis.com. Forward-Looking Statements This press release contains forward-looking statements, which reflect the Firm’s current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "target," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are based on certain assumptions and estimates and subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under "Risk Factors" discussed in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent reports filed on Form 10-Q and our other filings with the SEC. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. In addition, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results. The Firm undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. Non-GAAP Financial Measures The Company prepares its consolidated financial statements using accounting principles generally accepted in the United States (GAAP). From time to time, the Company may disclose certain "non-GAAP financial measures" in the course of its earnings releases, earnings conference calls, financial presentations and otherwise. The Securities and Exchange Commission defines a "non-GAAP financial measure" as a numerical measure of historical or future financial performance, financial position, or cash flows that is subject to adjustments that effectively exclude, or include amounts from the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures disclosed by the Company are provided as additional information to analysts, investors and other stakeholders in order to provide them with greater transparency about, or an alternative method for assessing our financial condition, operating results, or capital adequacy. Adjusted results are a non-GAAP financial measure which provide additional information on management’s view of operating results. These measures are not in accordance with, or a substitute for GAAP, and may be different from or inconsistent with non-GAAP financial measures used by other companies. Whenever we refer to a non-GAAP financial measure, we will also generally define it or present the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference and such comparable GAAP financial measure. The Company’s Adjusted revenues may include amounts reflected within other income (expenses) which are considered the equivalent of revenues for compensation. Such adjustments may include gains on founder investments where our employees and the Moelis advisory platform contributed meaningfully to the value creation; or the mark-to-market impact of equity instruments held by the Company that were originally received as payment for our banking services and included in revenues. We believe these adjustments are useful to allow comparability of period-to-period operating performance and compensation levels. The Company’s Adjusted compensation and benefits expenses may include adjustments reflected within other income (expenses) associated with compensation awards forfeited or returned to the Company by former employees. Management views the credits associated with such forfeitures as an offset to compensation and benefits expenses since the Firm will utilize the forfeited economics to recruit and or retain talent. We believe the netted presentation of forfeiture credits and compensation expenses is useful to allow comparability of period-to-period operating performance. The Company’s Adjusted non-compensation expenses and other income (expenses) may exclude certain one-time items that reduce the comparability of our operating performance as well as the amounts related to revenues and compensation and benefits expenses discussed above and adjustments to our provision for income taxes discussed below. Such adjustments increase the comparability of our financial performance across reporting periods and versus our peers. The Company’s Adjusted provision (benefit) for income taxes is adjusted to illustrate the result as if 100% of the Firm’s income is being taxed at our corporate effective tax rates for the periods presented. Adjusted provision (benefit) for income taxes periodically includes the tax impact related to the settlement of share-based awards, the reclassification of TRA liability adjustments, or adjustments to our deferred tax assets and liabilities that occur in connection with new tax legislation. Such adjustments increase the comparability of our financial performance across reporting periods and versus our peers. The Company’s Adjusted basic and diluted shares of Class A common stock outstanding is presented for each period as if all outstanding Class A partnership units have been exchanged into Class A common stock. The Adjusted presentation helps analysts, investors, and other stakeholders understand the effect of the Firm’s ownership structure on its results, including the impact of all the Firm’s income becoming subject to corporate-level tax. Appendix GAAP Consolidated Statement of Operations (Unaudited) Reconciliation of GAAP to Adjusted (non-GAAP) Financial Information (Unaudited) View source version on businesswire.com: https://www.businesswire.com/news/home/20260729967572/en/ Contacts Investor Contact: Matt TsukroffMoelis & Companyt: +1 212 883 3800m: +1 917 526 [email protected] Media Contact: Melissa ChilesMoelis & Companyt: +1 212 883 [email protected]

Tradeweb Markets (TW) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This electronic marketplaces operator is expected to post quarterly earnings of $0.96 per share in its upcoming report, which represents a year-over-year change of +10.3%. Revenues are expected to be $564.05 million, up 10% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.43% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Tradeweb, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.68%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Tradeweb will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Tradeweb would post earnings of $1.06 per share when it actually produced earnings of $1.08, delivering a surprise of +1.89%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Tradeweb doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Moelis (MC), another stock in the Zacks Financial - Investment Bank industry, is expected to report earnings per share of $0.62 for the quarter ended June 2026. This estimate points to a year-over-year change of +17%. Revenues for the quarter are expected to be $391.55 million, up 7.2% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Moelis has been revised 0.2% up to the current level. Nevertheless, the company now has an Earnings ESP of +1.98%, reflecting a higher Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Moelis will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tradeweb Markets Inc. (TW) : Free Stock Analysis Report Moelis & Company (MC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Wall Street expects a year-over-year increase in earnings on higher revenues when Moelis (MC) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on July 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This investment bank is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +17%. Revenues are expected to be $391.55 million, up 7.2% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.19% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Moelis, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.98%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination indicates that Moelis will most likely beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Moelis would post earnings of $0.59 per share when it actually produced earnings of $0.50, delivering a surprise of -15.25%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Moelis appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Moelis & Company (MC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research