Lazard Reports Second Quarter And First Half 2026 Results

NEW YORK, July 23, 2026 – Lazard, Inc. (NYSE: LAZ) today reported net revenue of $808 million and adjusted net revenue¹ of $786 million for the quarter ended June 30, 2026. For the first half of 2026, Lazard reported net revenue of $1,564 million and adjusted net revenue¹ of $1,459 million.

On a U.S. GAAP basis, Lazard reported second-quarter 2026 net income of $5 million or $0.03 per share, diluted. For the first half of 2026, net income on a U.S. GAAP basis was $106 million or $0.94 per share, diluted. On an adjusted basis¹, Lazard reported second-quarter 2026 net income of $13 million or $0.12 per share, diluted. For the first half of 2026, adjusted net income¹ was $60 million or $0.54 per share, diluted.

"Lazard continues to progress toward our 2030 objectives, with underlying trends reinforcing our confidence in our long-term growth strategy," said Peter R. Orszag, CEO and Chairman. "In Asset Management, we delivered our best first-half net inflows in nearly 20 years and reached record reported AUM, providing clear evidence of the inflection we anticipated. In Financial Advisory, we achieved our strongest announced half-year league table position since 2014, with a variety of forward indicators supporting our view that the investments we made to strengthen our MD talent are shifting from a headwind to a tailwind for productivity and revenue growth."

"We are excited about the momentum and evidence of progress across both of our businesses," said Tracy Farr, CFO. "This quarter's earnings were impacted by an elevated tax rate, which is not indicative of the full-year rate. In addition, as we exit the most substantial period of repositioning our advisory talent, the benefits of our growth investments will increasingly mature into earnings. Combined with our focus on operational efficiency, this supports our path toward long-term profitability and shareholder value."

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