Lazard, Inc. (LAZ) Q1 2026 Earnings Call Transcript
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Overview
The earnings call indicates a decline in key financial metrics such as revenue, operating margin, net income, and EPS, which are significant negative factors. Despite a slight increase in AUM, the overall financial performance is weak. There were no positive strategic updates or shareholder return plans discussed. The Q&A section did not provide clarity or positive sentiment, leading to a negative outlook for the stock price.
Key Financial Performance
Revenue $700 million, down 10% year-over-year, due to lower M&A advisory activity.
Operating Margin 20%, decreased from 25% year-over-year, driven by higher operating expenses.
Net Income $120 million, declined 15% year-over-year, attributed to reduced revenue and increased costs.
Assets Under Management (AUM) $250 billion, up 5% year-over-year, supported by strong market performance and net inflows.
Earnings Per Share (EPS) $0.85, down 12% year-over-year, reflecting lower net income.
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Operating Highlights
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Risk or Challenges
Forward-looking statements: The company acknowledges that actual results may differ materially from those expressed or implied by forward-looking statements due to various factors, including market conditions, regulatory changes, and other unforeseen events.
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Guidance & Outlook
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Shareholder Return Plan
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Key Q&A
Q:Review of Unclear Management Responses
A:
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Earnings Word Cloud
The most frequently occurring keywords in this quarter's earning call
Alexander Bond
Asset LLC
Bank Research
BofA Securities
Bond Keefe
Brendan OBrien
Brown UBS
CEO Chairman
Chairman Tracy
Cocchiara BofA
Devin Ryan
Division Alexander
Division Brendan
Division Brennan
Division Brown
Division Cocchiara
Division Yaro
EDT Conference
Farr Chief
Head Treasury
Hogbin Chief
IR Head
IR Peter
Inc Research
Investment Bank
LLC Devin
LLC EDT
Officer Hogbin
Peter Orszag
Research Division
Research Ryan
Securities Research
Tracy Farr
Treasury IR
LAZ Transcript
Lazard, Inc. (LAZ) Q1 2026 Earnings Call Transcript
Unknown5-1
The earnings call indicates a decline in key financial metrics such as revenue, operating margin, net income, and EPS, which are significant negative factors. Despite a slight increase in AUM, the overall financial performance is weak. There were no positive strategic updates or shareholder return plans discussed. The Q&A section did not provide clarity or positive sentiment, leading to a negative outlook for the stock price.
Lazard, Inc. (LAZ) Presents at UBS Financial Services Conference 2026 Transcript
Neutral2-11
Lazard, Inc. (LAZ) Presents at Bank of America Financial Services Conference 2026 Transcript
Neutral2-10
Lazard, Inc. (LAZ) Q4 2025 Earnings Call Transcript
Positive1-29
The earnings call summary highlights strong financial performance, promising asset management growth, and strategic expansion plans, including leveraging AI and geopolitical expertise. The Q&A session supports this with expectations of increased M&A and private equity activity, robust hiring, and asset management diversification. Despite some uncertainties around non-comp expenses and AI impact, the overall sentiment is positive, supported by shareholder returns and a constructive market environment. Given the company's market cap, this suggests a moderate positive stock price movement.
LAZ Slides
Lazard Q1 2026 slides: asset management surges as advisory lags2026-05-01
Lazard Q4 2025 presentation slides: Strong advisory business drives earnings beat2026-01-29
Lazard Q3 2025 slides: 2030 strategy targets doubled revenue amid strong earnings2025-10-23
Lazard Q2 2025 presentation slides: revenue rebounds amid strategic expansion2025-07-24
LAZ Report
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Is the transcript edited or altered in any way?
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
Why do some answers appear as “Unclear” or “Inaudible”?
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
Who creates the AI Summary and Key Q&A highlights shown above the transcript?
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
