PJT Partners Inc.

Stand by, your meeting is about to begin. Good day, everyone. Welcome to the PJT Partners First Quarter 2026 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Ms. Sharon Pearson, Head of Investor Relations. Ms. Pearson, please go ahead, ma'am.

Thanks very much, Beau, and good morning and welcome to the PJT Partners first quarter 2026 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 2025 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 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. Thank you, Sharon. Good morning, everybody. And thank you all for joining our earnings call. Earlier today, we reported revenues, adjusted pre-tax income, and adjusted EPS that were all Q1 records. Our revenues increased 29 percent. Our adjusted pre-tax income increased 49 percent. And our adjusted EPS increased 47 percent from year-ago levels. The substantial progress we have made is even more apparent when viewed through a longer lens. In just three years, our quarterly revenues have doubled, while our adjusted pre-tax income and adjusted EPS have nearly tripled. In this dislocated market environment, we delivered strong performance in all of our businesses with strategic advisory leading the way. Our consistent efforts to attract talent drove our increased partner count as we added eight new partners in the first quarter. Our hiring pipeline continues to be robust, and we expect to remain very active in recruiting senior professionals to our firm. While geopolitical uncertainties and other risks pressured many companies' prospects and valuations during the quarter, our outlook for our business remained unchanged. During the first quarter, we repurchased 1.6 million share equivalents, more than offsetting our year-end 2025 equity issuances. Even after this record $244 million of repurchases, we still ended the first quarter with record first quarter cash balances of nearly $400 million. All told, we have allocated almost $1 billion to repurchase shares and partnership units in just over two years. Our board of directors has authorized a new $800 million open market share repurchase program, reflecting our continuing confidence in our prospects, as well as the strength of our balance sheet. After Helen takes you through our financial results, I will review our business performance and outlook in greater detail. Helen?