Lazard, Inc. (LAZ) Form 10-Q — Oct 26, 2026
Lazard reported Q3 2026 net revenue of $814.2 million, up 8.8% from $748.1 million a year earlier, driven by record asset management fees of $347.0 million and investment banking fees of $467.8 million. However, net income attributable to Lazard fell sharply to $29.2 million from $71.2 million, with diluted EPS of $0.26 versus $0.65, reflecting higher adjusted compensation expense and a smaller Edgewater-related benefit. The company is set to close its acquisition of private markets advisor Campbell Lutyens in early November, with total consideration of $460 million upfront, $115 million deferred, and up to $85 million in earn-outs, payable in stock, cash, and loan notes.
Key figures
- Eps
- 0.26
- Revenue
- 2445976000
- Net Income
- 143965000
- Total Assets
- 4547910000
- Cash Position
- 1263956000
- Shares Outstanding
- 109783028
- Q3 2025 net income
- 73500000
- Q3 2026 net income
- 29670000
- Q3 2025 diluted eps
- 0.65
- Q3 2026 diluted eps
- 0.26
- Edgewater pretax gain
- 75508000
- Q3 2026 total revenue
- 836377000
- Ninetmonth revenue 2025
- 2257088000
- Campbell lutyens earnout
- 85000000
- Q3 asset management fees
- 347019000
- Avg repurchase price 2026
- 43.68
- Shares repurchased 9m2026
- 1945729
- Nine month net income 2025
- 196806000
- Q3 investment banking fees
- 467781000
- Quarterly dividend per share
- 0.5
- Total lazard stockholders equity
- 948786000
- Repurchase authorization remaining
- 224000000
- Campbell lutyens initial consideration
- 460000000
- Campbell lutyens deferred consideration
- 115000000
AI analysis
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