PJT Partners Inc.

Good day, everyone, and welcome to the PJT Partners first quarter 2025 earnings conference call. Just a reminder, today's conference is being recorded, and at this time, I would like to turn the conference over to Ms. Sharon Pearson, Head of Investor Relations. Please go ahead, ma'am.

Thank you very much, Beau. Good morning, and welcome to the PJT Partners first quarter 2025 earnings call. I'm Sharon Pearson, Head of Investor Relations at PJT Partners. 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 2024 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. I thank all of you for joining us this morning. Earlier today, we reported first quarter revenues of $325 million. adjusted pre-tax income of $56 million, and adjusted EPS of $1.05. These first quarter results reflect record Q1 adjusted net income and record Q1 adjusted EPS and revenues nearly equal to last year's record Q1 levels. The current environment poses significant risks to the U.S. and global economies. as reflected in volatile capital markets, subdued M&A activity, fragile business confidence, and delayed investments. How long these uncertainties persist, the economic consequences of these uncertainties, and the degree to which global trading relationships will be reshaped all weigh heavily on market sentiment. Our firm is uniquely positioned for these uncertain times given our strength of franchise and broad mix of businesses. While the operating environment has shifted dramatically since the start of the year, our full-year outlook has not. After Helen takes you through our financial results, I will review our business performance and outlook in greater detail. Helen.