Houlihan Lokey, Inc. (NYSE:HLI) Q3 2024 Earnings Call Transcript

Scott Beiser: So for almost every year I’ve ever been at the firm minus the last two, December was always an abnormally great quarter for the industry. It’s still a better quarter than normal, but there just hasn’t been the classical rush for tax reasons, accounting reasons, bonus reasons that the service providers have. And so we just haven’t seen that since really, I guess, December of 2021. And so we still have always felt that our second half is better than our first half. When December is really cooking, I guess we typically see a decline heading into our March. I just don’t think we had as much of a in the industry and uptick in the December quarter, like we used to have, and therefore it could go both ways. There could be some classical industry softening into the March quarter.

On the other hand, it is our fiscal year ends, we have some greater push and wanting to do things. And like I said, I think we feel rather good about our business, and our backlog and our opportunities. And like I said, I think things have been increasing month-by-month, really, since we called April of 2023 as the trough and still believe that’s the trough and it’s not a straight line, but it continues to improve since then.

Jim Mitchell: All right. Well, thanks for all your colors, Scott. Thanks.

Scott Beiser: Yes, thank you.

Operator: Thank you. And this does — we have reached out at the end of the question-and-answer session. I’ll now turn the call back over to CEO, Scott Beiser, for closing remarks.

Scott Beiser: Thank you. And I want to thank you all for participating in our third quarter fiscal year 2024 earnings call, and we look forward to updating everybody on our progress when we discuss our fourth quarter and full year results for fiscal 2024 this coming spring. Bye, bye.

Operator: This concludes today’s conference. You may disconnect your line at this time. Thank you for your participation.