Shares rose modestly by 2.2% following earnings that showed steady revenue growth and record annual performance, but lingering geopolitical uncertainty and the delayed closing of key restructuring deals restrained a stronger market response.

• Fiscal year 2026 revenue reached a record $2.6 billion, up 10% year-over-year; adjusted EPS rose 20% to $7.56.
• Fourth quarter revenue was $636 million with adjusted EPS of $1.63; Corporate Finance and Financial Valuation & Advisory posted their highest Q4 revenues ever.
• Financial Restructuring segment revenue declined 3% year-over-year for the full year; Q4 was impacted by delayed closings of two large transactions and a 21% drop in transaction volume.
• Corporate Finance closed 171 deals in Q4 (up from 147 last year) but average transaction fees decreased amid extended M&A timelines influenced by geopolitical tensions.
• Management expects variability in near-term Corporate Finance growth due to prolonged deal timelines but maintains a positive longer-term outlook supported by a record backlog and active pipeline.