Houlihan Lokey FY27 Q1 net income falls 20.41% to $78 million; revenue drops 15.54% to $511 million

Corporate Finance revenue slid 24% to $303 million, while Financial and Valuation Advisory rose 13% to $89 million.

Houlihan Lokey posted first-quarter fiscal 2027 revenue of $511 million, down 16% from a year earlier. Net income attributable to shareholders fell to $78 million; diluted EPS dropped to $1.15.

CEO Scott Adelson cited headwinds in Corporate Finance tied to Middle East instability and disruption in software, calling them temporary.

The board declared a $0.70 quarterly dividend, repurchased 348,000 shares, and ended the quarter with $797 million in cash and securities.