Houlihan Lokey's first quarter fiscal 2027 revenue fell 16% to $511 million, driven by weakness in Corporate Finance.

Houlihan Lokey reported first quarter fiscal 2027 revenue of $511 million, down 16% from the prior year, and GAAP diluted EPS of $1.15, compared to $1.42 a year ago. The company attributed the decline to continued challenges in its Corporate Finance business.

Key Highlights

• Corporate Finance revenue, the firm's largest segment, declined 24% year-over-year to $303 million, which the company stated was due to a lower average transaction fee on closed deals.
• Financial Restructuring revenue decreased 7% to $119 million, while the Financial and Valuation Advisory segment saw revenues increase 13% to $89 million.
• The company repurchased 348 thousand shares during the quarter and announced a quarterly dividend of $0.70 per share.