Contact: Patrick Suehnholz
Director of Investor Relations
Greenhill & Co., Inc.
GREENHILL & CO. REPORTS FOURTH QUARTER EARNINGS PER SHARE OF $1.05 AND FULL YEAR EARNINGS PER SHARE OF $0.45
•Quarterly revenues of $106.7 million, up 20% from prior year fourth quarter
•Annual revenues of $301.0 million, down 14% from prior year, as reduced revenue in Europe more than offset increases in North America, Australia and the rest of the world
•Compensation ratio of 42% for the fourth quarter, lower than our historic norm in order to reduce the ratio to 59% for the full year
•Operating profit margin of 39% for the fourth quarter, 15% for the full year
•Effective tax rate for the fourth quarter and year was adversely impacted by unusually low proportion of earnings coming from low tax jurisdictions and a high proportion coming from higher tax jurisdictions
•Repurchased 1.5 million shares of common stock and common stock equivalents during the quarter at an average price of $15.98 per share; for the full year repurchased 3.8 million shares and share equivalents at an average price of $18.04 per share
•Board authorized up to $60 million of purchases of shares and share equivalents in 2020
NEW YORK, February 4, 2020 – Greenhill & Co., Inc. (NYSE: GHL) today reported revenues of $106.7 million, net income of $24.1 million and diluted earnings per share of $1.05 for the fourth quarter of 2019.
The Firm’s fourth quarter 2019 revenues compare to revenues of $89.1 million for the fourth quarter 2018, which represents an increase of $17.6 million, or 20%. The Firm's fourth quarter 2019 net income and diluted earnings per share compare to net income of $11.1 million and diluted earnings per share of $0.45 for the fourth quarter 2018, an increase of $13.0 million, or 117%, in net income and an increase of $0.60, or 133%, in diluted earnings per share.
For the year ended December 31, 2019, revenues of $301.0 million compare to $352.0 million for 2018, which represents a decrease of $51.0 million, or 14%. For 2019, net income of $11.0
The following information was filed by Greenhill Co Inc (GHL) on Tuesday, February 4, 2020 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.