$LAZ
Lazard, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019039979 Filed on November 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $611.1M $687.2M $640.8M
YoY Change -4.64% 1.24% 2.55%
Cost Of Revenue $48.40M $46.90M $49.10M
YoY Change -1.43% 45.2% 55.38%
Gross Profit $562.6M $657.4M $591.7M
YoY Change -4.92% -0.41% -2.44%
Gross Profit Margin 92.07% 95.66% 92.34%
Selling, General & Admin $497.7M $465.1M $444.5M
YoY Change 11.97% 64.0% -1.9%
% of Gross Profit 88.46% 70.75% 75.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.700M $8.800M $8.600M
YoY Change 1.16% -31.25% 7.5%
% of Gross Profit 1.55% 1.34% 1.45%
Operating Expenses $510.4M $504.0M $459.7M
YoY Change 11.03% 67.16% -0.56%
Operating Profit $52.37M $156.3M $138.7M
YoY Change -62.23% -56.4% -3.84%
Interest Expense $20.01M $14.32M
YoY Change 39.71%
% of Operating Profit 38.2% 10.33%
Other Income/Expense, Net $11.53M $14.45M
YoY Change -20.22%
Pretax Income $52.40M $156.3M $138.7M
YoY Change -62.22% -56.4% -3.81%
Income Tax $4.177M $42.60M $29.96M
% Of Pretax Income 7.97% 27.26% 21.6%
Net Earnings $46.70M $113.4M $107.1M
YoY Change -56.38% -235.71% -1.96%
Net Earnings / Revenue 7.64% 16.5% 16.71%
Basic Earnings Per Share $0.42 $0.97 $0.90
Diluted Earnings Per Share $0.40 $0.89 $0.82
COMMON SHARES
Basic Shares Outstanding 109.3M 129.8M 119.5M
Diluted Shares Outstanding 113.9M 129.9M

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.289B $2.292B $2.186B
YoY Change 4.68% -6.64% 12.59%
Cash & Equivalents $959.0M $1.247B $2.186B
Short-Term Investments
Other Short-Term Assets $40.30M $38.40M $38.00M
YoY Change 6.05% 8.17% 7.34%
Inventory
Prepaid Expenses
Receivables $468.8M $501.4M $546.8M
Other Receivables $199.4M $184.1M $94.00M
Total Short-Term Assets $2.957B $2.977B $2.827B
YoY Change 4.59% -1.62% 13.37%
LONG-TERM ASSETS
Property, Plant & Equipment $217.0M $212.9M $214.3M
YoY Change 1.24% 3.72% 6.72%
Goodwill $366.9M $371.6M $375.0M
YoY Change -2.16% -3.56% -2.72%
Intangibles
YoY Change
Long-Term Investments $535.8M $575.1M $609.6M
YoY Change -12.11% 34.62% 274494.59%
Other Assets $601.2M $597.8M $610.4M
YoY Change -1.51% -8.07% -44.5%
Total Long-Term Assets $2.595B $2.020B $2.118B
YoY Change 22.54% 6.18% -9.6%
TOTAL ASSETS
Total Short-Term Assets $2.957B $2.977B $2.827B
Total Long-Term Assets $2.595B $2.020B $2.118B
Total Assets $5.552B $4.997B $4.945B
YoY Change 12.28% 1.39% 2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.406B $1.154B $1.056B
YoY Change 33.09% 16.32% 50.47%
Accrued Expenses $1.072B $585.5M $489.1M
YoY Change 119.08% -1.4% -0.35%
Deferred Revenue
YoY Change
Short-Term Debt $1.600M $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $2.479B $1.740B $1.545B
YoY Change 60.41% 9.68% 29.56%
LONG-TERM LIABILITIES
Long-Term Debt $1.679B $1.434B $1.434B
YoY Change 17.1% 20.49% 20.49%
Other Long-Term Liabilities $705.9M $847.6M $837.6M
YoY Change -15.72% -4.11% -22.5%
Total Long-Term Liabilities $2.385B $2.282B $2.271B
YoY Change 5.0% 10.01% 0.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.479B $1.740B $1.545B
Total Long-Term Liabilities $2.385B $2.282B $2.271B
Total Liabilities $4.866B $4.027B $3.878B
YoY Change 25.48% 9.74% 9.9%
SHAREHOLDERS EQUITY
Retained Earnings $1.168B $1.196B
YoY Change 10.66%
Common Stock $683.3M $752.0M
YoY Change -4.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $613.4M $916.9M $1.067B
YoY Change
Total Liabilities & Shareholders Equity $5.552B $4.997B $4.945B
YoY Change 12.28% 1.39% 2.24%

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $46.70M $113.4M $107.1M
YoY Change -56.38% -235.71% -1.96%
Depreciation, Depletion And Amortization $8.700M $8.800M $8.600M
YoY Change 1.16% -31.25% 7.5%
Cash From Operating Activities $235.8M $407.5M $226.7M
YoY Change 4.01% 25.89% -31.88%
INVESTING ACTIVITIES
Capital Expenditures -$22.60M -$10.30M -$7.300M
YoY Change 209.59% -15.57% 19.67%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.000M $100.0K
YoY Change -100.0% 300.0% 0.0%
Cash From Investing Activities -$22.60M -$8.200M -$7.300M
YoY Change 209.59% -29.91% 21.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -101.4M -270.4M 103.5M
YoY Change -197.97% -263.38% -161.35%
NET CHANGE
Cash From Operating Activities 235.8M 407.5M 226.7M
Cash From Investing Activities -22.60M -8.200M -7.300M
Cash From Financing Activities -101.4M -270.4M 103.5M
Net Change In Cash 111.8M 128.9M 322.9M
YoY Change -65.38% -73.01% 104.24%
FREE CASH FLOW
Cash From Operating Activities $235.8M $407.5M $226.7M
Capital Expenditures -$22.60M -$10.30M -$7.300M
Free Cash Flow $258.4M $417.8M $234.0M
YoY Change 10.43% 24.38% -30.95%

Facts In Submission

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