Perella Weinberg Partners

Good morning, and welcome to the Perella Weinberg Partners Third Quarter 2024 Earnings Conference Call. Currently, all callers have been placed in a listen-only mode, and following management's prepared remarks, the call will be open for your questions. If you would like to ask a question at that time, please press star 1 on your telephone keypad. If you need to remove yourself from the queue, please press star 2. At any time, if you should need operator assistance, press star 0. Please be advised that today's call is being recorded. And I will now turn the call over to Taylor Reinhart, Head of Communications and Marketing. You may begin.

Thank you, Operator, and welcome all. Joining me today are Andrew Bednar, Chief Executive Officer, and Alex Gottschalk, Chief Financial Officer. Before we begin, I'd like to note that this call may contain forward-looking statements, including Cruella Weinberg's expectations of future financial and business performance and conditions and industry outlook. Forward-looking statements are inherently subject to risk uncertainties, and assumptions that could cause actual results to differ materially from those discussed in the forward-looking statements and are not guarantees of future events or performance. Please refer to Parola Weinberg's most recent SEC filings for a discussion of certain of these risks and uncertainties. The forward-looking statements are based on our current beliefs and expectations, and the firm undertakes no obligation to update any forward-looking statements. During the call, There will also be a discussion of some metrics, which are non-GAAP financial measures, which management believes are relevant in assessing the financial performance of the business. Perla Weinberg has reconciled these items to the most comparable GAAP measures in the press release files of today's Form 8K, which can be found on the company's website. I will now turn the call over to Andrew Bednar to discuss the results.

Andrew Bednar Thank you, Taylor, and good morning. We are pleased to report another quarterly record for the firm. In the third quarter, we reported revenues of $278 million up 100% year-over-year. And our year-to-date revenues at $652 million are up 50% year-over-year and are the highest first nine months in the firm's history. And with our fourth quarter revenues tracking at a similar level to those seen in Q4 2023, we remain on pace to deliver strong results for the full year of 2024. Our results reported today reflect top-line growth across our businesses driven by an increase in larger fee events. This is an encouraging trend and reflects both our deliberate strategic positioning and business selection optimization, as well as a deepening of trusted relationships with both new and existing clients. Our team is firing on all cylinders, and the results speak for themselves. I could not be more proud of our teammates and what they have achieved. Our business momentum signals that we are in the early stages of a multi-year growth cycle in the transaction markets. Corporate activity, which supported our franchise through the down cycle, has accelerated, and while announced activity from sponsors continues to lag corporates, the desire to transact among sponsors is increasing. At the same time, restructuring and liability management support and the need for creative financing solutions remain in high demand. We are seeing these trends across industries and geographies and believe we have increasingly strong tailwinds at our back. Across the firm, we are investing in growth. Since our last call, we have added two partners with client coverage in consumer health, wellness, beauty, and personal care, and in transportation, leasing, and logistics. These investments in talent plus others made in prior years are investments in client relationships and are already yielding results. We have also continued to invest at the managing director level, bolstering that rank with two additional hires to deepen our client coverage and strengthen our internal partner pipeline. Our performance to date in 2024 reflects an improving operating environment, but even more so represents the underlying strength of our client-focused franchise. We are successfully executing on our strategy to achieve scale, while simultaneously solidifying our position as a leader in providing independent advice, especially in larger and more complex situations. Simply put, we are achieving what we said we would, and we feel no constraint. Rather, we see an exceptional opportunity to drive long-term growth. We look forward to continuing to deliver superior results for our clients and increase returns for our shareholders. Alex, I'll now turn the call over to you to review our financial results and capital management in more detail.