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Houlihan Lokey, Inc. (HLI) SEC Filing 10-K Annual Report for the fiscal year ending Friday, March 31, 2023

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HLI Annual Reports

  • 10-K Annual Report May 2023
  • 10-K Annual Report May 2022
    10-K Annual Report May 2020
    10-K Annual Report May 2019
    10-K Annual Report May 2018
    10-K Annual Report June 2017
    10-K Annual Report June 2016

Houlihan Lokey, Inc.

CIK: 1792941 Ticker: HLI
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Houlihan Lokey Reports Fiscal Year and Fourth Quarter 2023 Financial Results
Fiscal Year 2023 Revenues of $1.81 billion
Fiscal Year 2023 Diluted EPS of $3.98
Adjusted Fiscal Year 2023 Diluted EPS of $4.54
Fourth Quarter Fiscal 2023 Revenues of $445 million
Fourth Quarter Fiscal 2023 Diluted EPS of $1.10
Adjusted Fourth Quarter Fiscal 2023 Diluted EPS of $1.11
Announces an Increase in the Quarterly Dividend to $0.55 per Share

LOS ANGELES and NEW YORK - May 9, 2023 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its fiscal year and fourth quarter ended March 31, 2023. For the fiscal year, revenues declined (20)% to $1.81 billion, compared with $2.27 billion for the fiscal year ended March 31, 2022. For the fourth quarter ended March 31, 2023, revenues declined (6)% to $445 million, compared with $471 million for the fourth quarter ended March 31, 2022.
Net income was $269 million, or $3.98 per diluted share, for the fiscal year ended March 31, 2023, compared with $438 million, or $6.41 per diluted share, for the fiscal year ended March 31, 2022. Adjusted net income for the fiscal year ended March 31, 2023 was $315 million, or $4.54 per diluted share, compared with $485 million, or $7.10 per diluted share, for the fiscal year ended March 31, 2022.
Net income was $75 million, or $1.10 per diluted share, for the fourth quarter ended March 31, 2023, compared with $65 million, or $0.97 per diluted share, for the fourth quarter ended March 31, 2022. Adjusted net income for the fourth quarter ended March 31, 2023 was $77 million, or $1.11 per diluted share, compared with $88 million, or $1.30 per diluted share, for the fourth quarter ended March 31, 2022.
“As we look towards a new fiscal year, we believe that our diversified business model will continue to help us produce solid profitability under the current market environment. Our Corporate Finance business continues to see strong new business activity and some consistency in its quarterly results, notwithstanding the complexities in closing transactions in this market environment. Our Financial Restructuring business had a solid fourth quarter and is poised to deliver strong results in fiscal 2024, and our Financial and Valuation Advisory business modestly grew in fiscal 2023, maintaining its growth profile in a challenging M&A environment,” stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.
Selected Financial Data
(In thousands, except per share data)
U.S. GAAP
Three Months Ended March 31,Year Ended March 31,
2023202220232022
Revenues by segment
Corporate Finance$256,425 $279,019 $1,127,126 $1,593,083 
Financial Restructuring120,382 121,586 395,733 392,818 
Financial and Valuation Advisory67,960 70,561 286,588 284,057 
Revenues
$444,767 $471,166 $1,809,447 $2,269,958 
Operating expenses:
Employee compensation and benefits$282,937 $293,580 $1,147,879 $1,408,634 
Non-compensation expenses71,206 78,977 319,830 248,460 
Operating income
90,624 98,609 341,738 612,864 
Other (income)/expense, net(4,678)7,921 2,738 8,926 
Income before provision for income taxes
95,302 90,688 339,000 603,938 
Provision for income taxes
20,642 25,515 69,777 165,614 
Net income
74,660 65,173 269,223 438,324 
Net income attributable to noncontrolling interest— — — (573)
Net income attributable to Houlihan Lokey, Inc.$74,660 $65,173 $269,223 $437,751 
Diluted earnings per share attributable to Houlihan Lokey, Inc.
$1.10 $0.97 $3.98 $6.41 
1

The following information was filed by Houlihan Lokey, Inc. (HLI) on Wednesday, May 10, 2023 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.

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Inside Houlihan Lokey, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income
- Revenues (Narrative) (Details)
- Summary Of Trading Securities (Details)
Allowance For Credit Losses (Details)
Allowance For Doubtful Accounts
Allowance For Doubtful Accounts (Tables)
Background
Background (Details)
Business Combinations
Business Combinations (Tables)
Business Combinations - Business Acquisition, Pro Forma Information (Details)
Business Combinations - Narrative (Details)
Business Combinations - Schedule Of Business Acquisitions, By Acquisition (Details)
Business Combinations - Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingencies
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Activity In Equity Classified Share Awards (Details)
Employee Benefit Plans - Activity In Liability Classified Shares (Details)
Employee Benefit Plans - Defined Contribution Plans (Details)
Employee Benefit Plans - Share-Based Incentive Plans Narrative (Details)
Employee Benefit Plans - Share-Based Payment Arrangement, Restricted Stock And Restricted Stock Unit, Activity (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments Fair Value Of Financial Instruments (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Finite-Lived Intangible Assets, Amortization Expense, Fiscal Year Maturity (Details)
Goodwill And Other Intangible Assets - Goodwill By Business Segments (Details)
Goodwill And Other Intangible Assets - Narrative (Details)
Goodwill And Other Intangible Assets - Schedule Of Goodwill And Other Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Income Taxes (Details)
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Narrative (Details)
Income Taxes - Provision (Benefit) For Income Taxes On Operations (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits (Details)
Investment Securities
Investment Securities (Tables)
Investment Securities - Summary Of Investment Contractual Maturity Dates (Details)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Maturity Of Existing Operating Leases (Details)
Leases - Narrative (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average Details (Details)
Loans Payable
Loans Payable (Details)
Net Income Per Share Attributable To Common Shareholders
Net Income Per Share Attributable To Common Shareholders (Details)
Net Income Per Share Attributable To Common Shareholders (Tables)
Other Comprehensive Income And Accumulated Other Comprehensive Loss
Other Comprehensive Income And Accumulated Other Comprehensive Loss (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Loss (Tables)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Related???Party Transactions
Related???Party Transactions (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Summary Of Receivables, Contract Assets, And Contract Liabilities (Details)
Segment And Geographical Information
Segment And Geographical Information (Tables)
Segment And Geographical Information - Revenue And Assets By Geographical Areas (Details)
Segment And Geographical Information - Revenue And Assets By Segment (Details)
Stockholders' Equity
Stockholders' Equity (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Summary Of Significant Accounting Policies - Reconciliation Of Cash, Cash Equivalents, And Restricted Cash (Details)
Summary Of Significant Accounting Policies - Translation Of Foreign Currency Transactions (Narrative) (Details)
Ticker: HLI
CIK: 1302215
Form Type: 10-K Annual Report
Accession Number: 0001302215-23-000031
Submitted to the SEC: Thu May 25 2023 4:50:16 PM EST
Accepted by the SEC: Thu May 25 2023
Period: Friday, March 31, 2023
Industry: Investment Advice

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