PJT Partners Inc.

Good day and welcome to the PJT Partners fourth quarter 2024 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 and good morning and welcome to the PJT Partners full year and fourth quarter 2024 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 Meigs, 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 2023 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. Thank you all for joining us today. Earlier this morning, we reported record-setting full-year 2024 results. Highlights include record revenues, record adjusted pre-tax income, and record adjusted EPS. For the full year 2024, revenues were $1.49 billion, up 29% year-on-year. Adjusted pre-tax income was $278 million, up 52% year-on-year. And adjusted EPS was $5.02 per share up 54% year on year. This strong performance was broad-based as PJT Park Hill, restructuring, and strategic advisory all delivered record performance. Our substantial free cash flow generation enabled us to direct a record $333 million to share repurchases while still ending the year with a record cash balance of $547 million. Our 2024 performance reflects continued progress in building the best advisory-focused investment bank through sustained, disciplined investment and a competitively advantaged culture. We remain committed to building upon the strong momentum through further investment. After Helen takes you through our financial results, I will review our business performance, recruiting initiatives, and outlook in greater detail. Helen?