Lazard Q2 FY26 net income drops 91% to $5 million; net revenue rises 1% to $808 million
LAZ•Capital return actions
The board authorized an additional USD 200 million share repurchase program; quarterly dividend set at USD 0.50 per share.
Q2 results and tax rate
Lazard posted Q2 net revenue of USD 808 million, up 1% year over year; U.S. GAAP net income fell to USD 5 million from USD 55 million.
U.S. GAAP diluted EPS dropped to USD 0.03; the effective tax rate rose to 63.5%, flagged as elevated and not indicative of full-year.
Business segment performance
Financial Advisory net revenue declined 9% to USD 450 million; Asset Management net revenue climbed 20% to USD 351 million.
Asset Management ending AUM increased 15% to USD 285 billion; first-half net flows totaled USD 7.4 billion, lifting AUM to a record.
