Contact: Patrick Suehnholz
Director of Investor Relations
Greenhill & Co., Inc.
GREENHILL & CO. REPORTS FOURTH QUARTER EARNINGS PER SHARE OF $2.71 AND FULL YEAR 2020 EARNINGS PER SHARE OF $1.36
•Record quarterly revenue and earnings per share, resulting in significant full year profitability and accelerated debt reduction
•Quarterly revenues of $140.7 million, up 32% from prior year fourth quarter
•Annual revenues of $311.7 million, up 4% from prior year
•Compensation ratio of 33% for the fourth quarter in order to reduce the ratio to 62% for the full year
•Operating profit margin of 57% for the fourth quarter, 18% for the full year
•Accelerated debt reduction with $20 million discretionary repayment in fourth quarter
•Board authorized up to $50 million of purchases of shares and share equivalents
•Recruited additional Managing Director to expand our coverage of the Latin American sector
NEW YORK, February 4, 2021 – Greenhill & Co., Inc. (NYSE: GHL) today reported revenues of $140.7 million, net income of $63.3 million and diluted earnings per share of $2.71 for the fourth quarter of 2020.
The Firm’s fourth quarter 2020 revenues compare to revenues of $106.7 million for the fourth quarter of 2019, which represents an increase of $34.0 million, or 32%. The Firm's fourth quarter 2020 net income and diluted earnings per share compare to net income of $24.1 million and diluted earnings per share of $1.05 for the fourth quarter of 2019, an increase of $39.2 million, or 162%, in net income and of $1.66, or 158%, in diluted earnings per share.
For the year ended December 31, 2020, revenues of $311.7 million compare to $301.0 million for 2019, which represents an increase of $10.7 million, or 4%. For 2020, net income of $31.3 million and diluted earnings per share of $1.36 compare to net income of $11.0 million and
The following information was filed by Greenhill Co Inc (GHL) on Thursday, February 4, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.