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Houlihan Lokey, Inc. (HLI) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, March 31, 2022

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  • 10-K Annual Report May 2022
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    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: 1302215 Ticker: HLI
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Houlihan Lokey Reports Fiscal Year and Fourth Quarter 2022 Financial Results

Record Fiscal Year 2022 Revenues of $2.27 billion
Fiscal Year 2022 Diluted EPS of $6.41
Adjusted Fiscal Year 2022 Diluted EPS of $7.10

Fourth Quarter Fiscal 2022 Revenues of $471 million
Fourth Quarter Fiscal 2022 Diluted EPS of $0.97
Adjusted Fourth Quarter Fiscal 2022 Diluted EPS of $1.30

Announces an Increase in the Quarterly Dividend to $0.53 per Share
– Announces Replacement Share Repurchase Program of up to $500 million –

LOS ANGELES and NEW YORK - May 12, 2022 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its fiscal year and fourth quarter ended March 31, 2022. For the fiscal year, revenues grew 49% to a fiscal year record of $2.27 billion, compared with $1.53 billion for the fiscal year ended March 31, 2021. For the fourth quarter ended March 31, 2022, revenues decreased (6)% to $471 million, compared with $501 million for the fourth quarter ended March 31, 2021.
Net income was $438 million, or $6.41 per diluted share, for the fiscal year ended March 31, 2022, compared with $313 million, or $4.55 per diluted share, for the fiscal year ended March 31, 2021. Adjusted net income for the fiscal year ended March 31, 2022 grew 53% to $486 million, or $7.10 per diluted share, compared with $317 million, or $4.62 per diluted share, for the fiscal year ended March 31, 2021.
Net income was $65 million, or $0.97 per diluted share, for the fourth quarter ended March 31, 2022, compared with $99 million, or $1.44 per diluted share, for the fourth quarter ended March 31, 2021. Adjusted net income for the fourth quarter ended March 31, 2022 was $88 million, or $1.30 per diluted share, compared with $104 million, or $1.51 per diluted share, for the fourth quarter ended March 31, 2021.
“We are pleased with our financial performance in fiscal year 2022 as we reached a new milestone of over $2 billion in revenue. We continue to build our advisory model focused on growth and diversification across geography, industry, product line and banker. We enter fiscal year 2023 optimistic about the firm’s continued ability to perform in today’s evolving market 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,
2022202120222021
Revenues
$471,166 $500,704 $2,269,958 $1,525,452 
Operating expenses:
Employee compensation and benefits293,580 317,082 1,408,634 971,195 
Non-compensation expenses78,977 43,346 248,460 146,100 
Operating income
98,609 140,276 612,864 408,157 
Other (income)/expense, net7,921 473 8,926 (1,071)
Income before provision for income taxes
90,688 139,803 603,938 409,228 
Provision for income taxes
25,515 40,437 165,614 96,457 
Net income
65,173 99,366 438,324 312,771 
Net income attributable to noncontrolling interest— — (573)— 
Net income attributable to Houlihan Lokey, Inc.$65,173 $99,366 $437,751 $312,771 
Diluted earnings per share attributable to Houlihan Lokey, Inc.
$0.97 $1.44 $6.41 $4.55 
1

The following information was filed by Houlihan Lokey, Inc. (HLI) on Friday, May 13, 2022 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: 0001302215-22-000029
Submitted to the SEC: Fri May 27 2022 5:22:18 PM EST
Accepted by the SEC: Fri May 27 2022
Period: Thursday, March 31, 2022
Industry: Investment Advice

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