Houlihan Lokey, Inc. (NYSE:HLI) Q4 2024 Earnings Call Transcript

Brendan O’Brien: That’s a great color. Thank you. And then just for my follow-up, I just wanted to touch on the time to complete deals and the deal cycle. So in you that in your prepared remarks, the time frame to close remains elongated. I just want to get a sense as to what could drive that normalization of deal timelines in your view. Is it just more certainty on the rate trajectory or the macro or global economic backdrop or anything else?

Scott Beiser: It is really that the — we are still in a buyer’s market at this point, and as that begins to shift to equilibrium, you will start to see velocity pick up. Right now, buyers are able to say, I’d like to see that one incremental piece of information. I’d like to wait one more quarter to see results. I mean, endless array of things that cause it to drag on, but it is clearly that we are still in an environment where buyers have that leverage, that it, but that is changing literally week-by-week at this point.

Brendan O’Brien: All right. Thank you for taking my questions.

Operator: And gentlemen, it appears we have no further questions this afternoon. Mr. Beiser, I’d like to turn things back to you, sir, for any closing comments.

Scott Beiser: I will end today’s call with a thank you to all employees at Houlihan Lokey. It is all of you that have made this firm’s success possible. You truly made my time as CEO enjoyable. And I look forward to continuing our journey together over the coming years. And finally, we look forward to updating everyone on our progress when we discuss our first quarter results from fiscal 2025 this summer.

Operator: Thank you, Mr. Beiser. Ladies and gentlemen, that will conclude today’s Houlihan Lokey fourth quarter and fiscal year 2024 earnings call. Again, thank you so much for joining us. We wish you all a great remainder of your day. Goodbye.