Equity Profile

HLI

Houlihan Lokey, Inc.

FinancialsInvestment Banking & Brokerage$9.6B

May6Wed

Post-Earnings Recap

ReportedQ4-2026After Close4:40 PM EDT

Houlihan Lokey Misses on EPS, Stock Down 1.96%

Metric	Actual	Expected	Surprise
EPS	$1.63	$1.79	-11.56%
Revenue	—	$679M	—

management commentary, guidance changes, and full analysis available with Pro.

Houlihan Lokey Misses on EPS, Stock Down 1.96%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$1.63	$1.79	-11.56%
Revenue	—	$679M	—

Management Commentary

Tone: Unknown

No transcript is on record, and the analysis is based solely on numerical results.

What It Means

The earnings report indicates that Houlihan Lokey fell short of EPS expectations, which contributed to a 1.96% decline in stock price. Investors may be concerned about the company's performance relative to market expectations, especially given the lack of revenue data and guidance. The absence of management commentary leaves uncertainty about future prospects.

Company Snapshot

Houlihan Lokey, Inc. (HLI) is a global investment banking and financial services firm that specializes in mergers and acquisitions, financial restructuring, and capital markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

$1.79

Revenue

Revenue figures will provide insight into the company's overall business performance and demand for its services.

$679M

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Houlihan Lokey, Inc. (HLI) is a global investment banking and financial services firm that specializes in mergers and acquisitions, financial restructuring, and capital markets. With a market cap of $10 billion, the company plays a crucial role in advising clients on complex financial transactions, making it significant in the financial sector.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+8.53%

Avg Stock Reaction

+0.06%

Last Quarter Recap

In Q3-2026, Houlihan Lokey reported an EPS of $1.94, exceeding expectations by 5.15%. The stock reacted positively, gaining 0.49% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Houlihan Lokey to report solid earnings, with a consensus EPS of $1.79. The market is keenly watching for any signs of growth in revenue and profitability.

Bull Case

If the company beats EPS estimates, it could indicate strong demand for its services and effective cost management, leading to a positive stock reaction.

Bear Case

Conversely, if the company misses earnings expectations, it may raise concerns about declining demand in the investment banking sector, potentially leading to a negative stock reaction.

Key Metrics to Watch

EPS

$1.79

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

Revenue

$679M

Revenue figures will provide insight into the company's overall business performance and demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $1.79?

A beat on EPS could signal strong operational performance and boost investor confidence.

What revenue figures will the company report, and how do they compare to the consensus of $679M?

Revenue performance is critical for understanding the company's growth trajectory and market demand.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Houlihan Lokey's ability to capitalize on recent market trends, particularly in M&A activity, which could drive stronger-than-expected revenue growth.

Supporting Evidence

The company has consistently beaten EPS estimates in recent quarters, indicating strong operational performance.

Options pricing suggests a significant move, which may reflect investor sentiment that is more optimistic than the consensus.

Key Risk

If the revenue comes in below $650M, it could undermine the bullish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it will reflect the company's ability to navigate a competitive investment banking landscape.

Bull Confirmed If

An EPS of $1.85 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $1.70 would confirm the bear case, suggesting potential issues in revenue generation.

Pre-Earnings Positioning

Options Market

Implied Move

±7.05%

Historical Avg

±1.0%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings announcement.

Options are pricing ±7.0% while HLI has averaged ±1.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

23.7%

Calls (15K)P/C Ratio: 0.42Puts (0)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: X of Y (Z%)

This setup has occurred 30 times across Financials in the last 2 years. The average absolute 1-day move is 3.2%, with a raw directional average of -1.0% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Houlihan Lokey beats expectations, history suggests a potential stock increase of around +0.12%, confirming strong demand.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline, with historical patterns suggesting an average drop of around +0.60%.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on M&A activity trends and how they are impacting revenue.
2Insights into cost management strategies and their effect on profitability.
3Management's outlook on market conditions for the upcoming quarter.
4Details on any new service offerings or strategic initiatives.
5Responses to how the company is navigating competitive pressures in the investment banking sector.

See the full picture

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Company Snapshot

Houlihan Lokey, Inc. (HLI) is a global investment banking and financial services firm that specializes in mergers and acquisitions, financial restructuring, and capital markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

$1.79

Revenue

Revenue figures will provide insight into the company's overall business performance and demand for its services.

$679M

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+8.53%

Avg Stock Reaction

+0.06%

Last Quarter Recap

In Q3-2026, Houlihan Lokey reported an EPS of $1.94, exceeding expectations by 5.15%. The stock reacted positively, gaining 0.49% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Houlihan Lokey to report solid earnings, with a consensus EPS of $1.79. The market is keenly watching for any signs of growth in revenue and profitability.

Bull Case

If the company beats EPS estimates, it could indicate strong demand for its services and effective cost management, leading to a positive stock reaction.

Bear Case

Conversely, if the company misses earnings expectations, it may raise concerns about declining demand in the investment banking sector, potentially leading to a negative stock reaction.

Key Metrics to Watch

EPS

$1.79

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

Revenue

$679M

Revenue figures will provide insight into the company's overall business performance and demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $1.79?

A beat on EPS could signal strong operational performance and boost investor confidence.

What revenue figures will the company report, and how do they compare to the consensus of $679M?

Revenue performance is critical for understanding the company's growth trajectory and market demand.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Houlihan Lokey's ability to capitalize on recent market trends, particularly in M&A activity, which could drive stronger-than-expected revenue growth.

Supporting Evidence

The company has consistently beaten EPS estimates in recent quarters, indicating strong operational performance.

Options pricing suggests a significant move, which may reflect investor sentiment that is more optimistic than the consensus.

Key Risk

If the revenue comes in below $650M, it could undermine the bullish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it will reflect the company's ability to navigate a competitive investment banking landscape.

Bull Confirmed If

An EPS of $1.85 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $1.70 would confirm the bear case, suggesting potential issues in revenue generation.

Pre-Earnings Positioning

Options Market

Implied Move

±7.05%

Historical Avg

±1.0%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings announcement.

Options are pricing ±7.0% while HLI has averaged ±1.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

23.7%

Calls (15K)P/C Ratio: 0.42Puts (0)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: X of Y (Z%)

This setup has occurred 30 times across Financials in the last 2 years. The average absolute 1-day move is 3.2%, with a raw directional average of -1.0% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Houlihan Lokey beats expectations, history suggests a potential stock increase of around +0.12%, confirming strong demand.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline, with historical patterns suggesting an average drop of around +0.60%.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on M&A activity trends and how they are impacting revenue.
2Insights into cost management strategies and their effect on profitability.
3Management's outlook on market conditions for the upcoming quarter.
4Details on any new service offerings or strategic initiatives.
5Responses to how the company is navigating competitive pressures in the investment banking sector.