Houlihan Lokey, Inc. (HLI) 10-Q Quarterly Report November 2021

LOS ANGELES and NEW YORK - October 28, 2021 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its second quarter ended September 30, 2021. For the second quarter ended September 30, 2021, revenues were $537 million, compared with $276 million for the second quarter ended September 30, 2020.

Net income was $113 million, or $1.65 per diluted share, for the second quarter ended September 30, 2021, compared with $49 million, or $0.70 per diluted share, for the second quarter ended September 30, 2020. Adjusted net income for the second quarter ended September 30, 2021 was $117 million, or $1.71 per diluted share, compared with $52 million, or $0.75 per diluted share, for the second quarter ended September 30, 2020.

“We are beginning our third fiscal quarter with record year-to-date results and the completion of the largest acquisition in the firm’s history. I want to welcome our new colleagues from GCA to the Houlihan Lokey family. As a combined firm, we meaningfully increase our capabilities in the strategically important technology and technology related industry sectors, and become an even more formidable provider of investment banking services in Europe and Asia. We believe that this acquisition creates significant strategic and shareholder value for our firm, and we look forward to achieving these goals over the coming years.” stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.

Selected Financial Data


(In thousands, except per share data)	U.S. GAAP
	Three Months Ended September 30,				Six Months Ended September 30,
	2021		2020		2021		2020
Revenues	$	537,272	$	275,736	$	909,994	$	486,872
Operating expenses:
Employee compensation and benefits	333,374		177,249		565,678		314,370
Non-compensation	46,579		31,612		79,321		63,037
Operating income	157,319		66,875		264,995		109,465
Other (income)/expense, net	853		(196)		752		(1,357)
Income before provision for income taxes	156,466		67,071		264,243		110,822
Provision for income taxes	43,583		18,281		65,400		15,932
Net income attributable to Houlihan Lokey, Inc.	$	112,883	$	48,790	$	198,843	$	94,890

Diluted earnings per share	$	1.65	$	0.70	$	2.90	$	1.39

Revenues

For the second quarter ended September 30, 2021, revenues were $537 million, compared with $276 million for the second quarter ended September 30, 2020. For the second quarter ended September 30, 2021, Corporate Finance (“CF”) revenues increased 259%, Financial Restructuring (“FR”) revenues decreased (34)%, and Financial and Valuation Advisory (“FVA”) revenues increased 55% when compared with the second quarter ended September 30, 2020.

The following information was filed by Houlihan Lokey, Inc. (HLI) on Friday, October 29, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/1302215/000130221521000087/hli-20210930.htm

View differences made from one quarter to another to evaluate Houlihan Lokey, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Houlihan Lokey, Inc..

Continue

Assess how Houlihan Lokey, Inc.'s management team is paid from their Annual Proxy

Houlihan Lokey, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Financial

Revenue

Other

Filter Subcategory:

All

Earnings

Income

Expense

Product

Geography

Other

Inside Houlihan Lokey, Inc.'s 10-Q Quarterly Report:

Other - Other Highlight
Our liquidity is highly dependent upon cash receipts from clients that are generally dependent upon the successful completion of transactions, as well as the timing of receivables collections, which typically occur within 60 days of billing.

Other - Other Highlight
There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including but not limited to, the factors listed under the heading "Cautionary Note Regarding Forward-Looking Statements" in our Annual Report on Form 10-K for the year ended March 31, 2021 (the "2021 Annual Report").
Financial - Earnings Highlight
Profitability increased primarily as a result of an increase in revenues when compared to the same quarter last year.
Financial - Income Highlight
Other (income)/expense, net decreased (535)% to $0.9 million for the three months ended September 30, 2021, compared with $(0.2) million for the three months ended September 30, 2020, primarily due to lower interest (income) and an unrealized loss generated by our investment securities.
Financial - Earnings Highlight
Profitability decreased primarily as a result of lower revenues when compared to the same period last year.
Financial - Income
29 Table of Contents Other...Read more
Financial - Earnings
Profitability decreased primarily as a...Read more
Financial - Expense
Accordingly, the amount of employee...Read more
Other - Other
Six Months Ended September 30,...Read more
Revenue - Product
Revenues decreased primarily due to...Read more
Revenue - Product
The decrease in revenues was...Read more
Financial - Earnings
Segment profit for FVA was...Read more
Financial - Earnings
Segment profit for CF was...Read more
Financial - Earnings
Segment profit for CF was...Read more
Financial - Earnings
Segment profit for FVA was...Read more
Financial - Expense
This 22% increase was primarily...Read more
Other - Other
33 Table of Contents Liquidity...Read more
Financial - Expense
This 35% increase was primarily...Read more
Revenue - Product
Revenues increased primarily due to...Read more
Financial - Expense
27 Table of Contents Operating...Read more
Revenue - Product
Revenues increased primarily due to...Read more
Financial - Expense
Operating expenses were $380.0 million...Read more
Financial - Expense
Operating expenses were $645.0 million...Read more
Revenue - Geography
The Company also has various...Read more
Financial - Expense
Our employee compensation and benefits...Read more
Other - Other
In some cases, you can...Read more
Revenue - Product
Six Months Ended September 30,...Read more
Revenue - Product
28 Table of Contents Three...Read more
Revenue - Product
Six Months Ended September 30,...Read more
Revenue - Product
Corporate Finance Three Months Ended...Read more
Revenue - Product
31 Table of Contents Six...Read more
Financial - Expense
The increase in non-compensation expense...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Houlihan Lokey, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: HLI
CIK: 1302215
Form Type: 10-Q Quarterly Report
Accession Number: 0001302215-21-000087
Submitted to the SEC: Fri Nov 05 2021 4:47:05 PM EST
Accepted by the SEC: Fri Nov 05 2021
Period: Thursday, September 30, 2021
Industry: Investment Advice

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/hli/0001302215-21-000087.htm

Houlihan Lokey, Inc. (HLI) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

SEC Filings

HLI Valuations

HLI Annual Reports

HLI Quarterly Reports

HLI Corporate News