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|Director of Investor Relations|
|Greenhill & Co., Inc.|
GREENHILL & CO. REPORTS SECOND QUARTER EARNINGS PER SHARE OF $0.20
|||Total quarterly revenues of $67.3 million, down 26% from prior years second quarter due to fewer large transaction completion fees|
|||Total year to date revenues of $124.2 million, down 21% primarily due to reduced merger and acquisition revenue outside the U.S.|
|||Compensation ratio for the quarter and year to date higher than our historic norm as a result of lower revenues|
|||Recruited 3 Managing Directors for U.S. offices; year to date recruited 9 Managing Directors globally|
NEW YORK, NEW YORK, July 27, 2017 Greenhill & Co., Inc. (NYSE: GHL) today reported revenues of $67.3 million, net income allocated to common stockholders of $6.2 million and diluted earnings per share of $0.20 for the quarter ended June 30, 2017.
The Firms second quarter 2017 revenues compare to revenues of $90.5 million for the second quarter of 2016, which represents a decrease of $23.2 million, or 26%. For the second quarter of 2017, net income allocated to common stockholders compares to net income of $19.6 million for the same period in 2016, representing a decrease of $13.4 million, or 68%. Diluted earnings per share for the three months ended June 30, 2017 of $0.20 compares to $0.62 for the second quarter of 2016, representing a decrease of $0.42.
For the six months ended June 30, 2017, revenues of $124.2 million compare to $157.4 million for the comparable period in 2016, a decrease of $33.2 million, or 21%. For the first half of 2017, net income allocated to common stockholders of $5.5 million and diluted earnings per share of $0.17 compare to net income allocated to common stockholders of $24.0 million and diluted earnings per share of $0.75 for the same period in 2016.
The Firms revenues and net income can fluctuate materially depending on the number, size and timing of completed transactions on which it advised and other factors. Accordingly, the revenues and net income in any particular period may not be indicative of future results.
The following information was filed by Greenhill Co Inc (GHL) on Thursday, July 27, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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