PJT Partners Inc.

Good day and welcome to the PJT Partners Second Quarter 2026 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 Second Quarter 2026 Earnings Conference Call. I'm Sharon Pearson, Head of Investor Relations at PJP, and joining me today is Paul Taubman, our Chairman and Chief Executive Officer, and Helen Meates, 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 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 just call over to Paul.

Thank you, Sharon. Good morning, and thank you for joining today's earnings call. Earlier today, we reported record results across the board. Second quarter and first half revenues, adjusted pre-tax income, and adjusted EPS were all the highest in our firm's history. For the second quarter, revenues were $486 million, up 20%, adjusted pre-tax income was $106 million, up 32%, and adjusted EPS was $1.97, up 28% from year-ago levels. For the first half of the year, revenues increased 24%, adjusted pre-tax income increased 39%, and adjusted EPS increased 36% compared to 2025 levels. When we began this journey, we characterized our firm as an alpha play on strategic advisory. For more than a decade, we've been committed to consistent and continuing investment in our strategic advisory business with the goal of enhancing our footprint Our capabilities and our brand. These investments have transformed the scale and scope of our strategic advisory business and it's clearly evident in our financial results. Even with this significant build-out, we still have much more to build and much more to achieve. And as that build-out progresses, it will drive opportunities for additional growth in our other businesses. We are increasingly becoming an alpha play, not just in strategic advisory, but across all of our businesses. Before I turn the call over to Helen, I'd like to say a few words about our CFO transition. Helen will be stepping down as Chief Financial Officer on October 1st, after more than a decade of extraordinary service. She will, however, remain with us through year end to ensure a seamless transition. Helen has been my partner and sounding board from day one. A lot of what we have accomplished reflects her leadership, her dedication, and her uncompromising integrity. On behalf of the Board and all her colleagues, I want to thank her for her innumerable contributions to PJT Partners. I would also like to congratulate Arun Kalra on his elevation from Director of Finance to CFO. Since joining PJT in 2016, Arun has worked side by side with Helen to develop our global finance function. I am confident that Arun will build upon the strong foundation Helen has established and help write the next chapters of our growth story. After Helen takes you through our financial results, I will review our business performance and outlook in greater detail. Helen?