PJT Partners Inc.

Good day and welcome to the PJT Partners third quarter 2022 earnings call. Today's conference is being recorded. At this time, I would like to turn the conference over to Sharon Pearson, Head of Investor Relations. Please go ahead, ma'am.

Thank you very much. Good morning and welcome to the PJT Partners third quarter 2022 earnings conference call. I'm Sharon Pearson, Head of Investor Relations at PJT Partners. And joining me today is Paul Taubman, our Chairman and Chief Executive Officer, and Helen Mates, our Chief Financial Officer. Before I turn the call over to Paul, I want to point out that during the course of this conference call, we may make a number of forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, and there are important factors that could cause actual outcomes to differ materially from those indicated in these statements. We believe that these factors are described in the risk factors section contained in PJT Partners 2021 Form 10-K, which is available on our website at pjtpartners.com. I want to remind you that the company assumes no duty to update any forward-looking statements and that the presentation we make today contains non-GAAP financial measures, which we believe are meaningful in evaluating the company's performance. For detailed disclosures on these non-GAAP metrics and their GAAP reconciliations, you should refer to the financial data contained within the press release we issued this morning, also available on our website. And with that, I'll turn the call over to Paul.

Thank you, Sharon. And thank you all for joining us. This morning, we reported third quarter revenues of $266 million, adjusted pre-tax income of $54 million, and adjusted EPS of $0.96 per share. For the nine-month period, we had record revenues of $746 million, adjusted pre-tax income of $159 million, and adjusted EPS of $2.84 per share. Before we review our results in more detail, I wanted to make a few comments on the broader operating environment. We have previously spoken about an increasingly challenging macro environment. As the year has progressed, hopes of a soft landing have grown increasingly less likely as successive rate hikes have failed to stem the inflationary tide. Clearly, the Fed will need to go further and push rates higher than previously thought. This, in turn, has increased the probability of an economic contraction next year. At the same time, further disruptions caused by the war in Ukraine, rising energy prices, and political instability are pressuring markets and economies in Europe and elsewhere around the globe. Notwithstanding these significant headwinds, each of our businesses continues to perform well. with higher revenues in both the three- and nine-month periods compared to a year ago. After Helen takes you through our financial results, I will review our business performance and outlook in greater detail. Helen?