Houlihan Lokey reported first-quarter fiscal 2027 revenue of $511 million, a 15.5% decline from $605 million a year earlier, as geopolitical uncertainty and software-sector reassessments delayed larger fee transactions. Adjusted diluted earnings per share fell to $1.35 from $2.14, while the adjusted effective tax rate rose to 13% from negative 1% due to lower stock-based tax benefits. Corporate Finance revenue dropped 24% to $303 million on 127 closed deals, Financial Restructuring declined 8% to $119 million, and Financial and Valuation Advisory grew 13% to $89 million with 1,042 fee events. The company expects the acquisition of energy-focused Intrepid Financial Partners to close by the end of the second fiscal quarter and maintained its long-term adjusted compensation ratio target of 61.5%.
Houlihan Lokey IncQ1 revenue and EPS declined sharply due to delayed M&A deals.
Acquisition expected to close by end of Q2, expanding energy focus.
