Lincoln International (NYSE:LCLN) Posts Earnings Results, Beats Expectations By $0.07 EPS

Lincoln International (NYSE:LCLN) announced its quarterly earnings results on Thursday. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.07, FiscalAI reports. The company had revenue of $293.65 million during the quarter.

Here are the key takeaways from Lincoln International’s conference call:

• Lincoln reported record third-quarter revenue of $293.7 million, up 57% year over year, and adjusted diluted EPS of $0.46. Investment banking revenue rose 70% and valuations and opinions revenue rose 18%.
• Management described an improving M&A environment, with near-record, quality-screened backlog, strong recent pitch activity, and greater sponsor engagement. The company expects fourth-quarter investment banking revenue to be within its usual 30%–40% share of annual revenue, but toward the lower end.
• Capital advisory and private funds advisory benefited from financing and fundraising demand, while valuations and opinions saw record quarterly revenue and 25% more portfolio valuations year over year. Management pointed to more frequent valuations and increasingly complex private-market investments as potential long-term growth drivers.
• Management said the sponsor market is improving but not yet strong, with buyers remaining selective; it also noted rising foreclosure activity and pressure on some portfolio companies. The company expects a new tax-code provision to put upward pressure on its tax rate beginning in 2027.
• MarshBerry, acquired in October 2025, has an all-time-high backlog and is expected to perform well, though its business is more weighted to the fourth quarter. Management also said it is evaluating potential acquisitions, but gave no timing or details on any deals.

Lincoln International Trading Up 0.2%

LCLN traded up $0.05 during trading hours on Friday, hitting $26.88. The company’s stock had a trading volume of 403,926 shares, compared to its average volume of 486,518. Lincoln International has a fifty-two week low of $20.05 and a fifty-two week high of $28.71. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $936.69 million and a price-to-earnings ratio of 103.38. The business’s 50-day moving average is $24.85.

Lincoln International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, December 1st. Lincoln International’s dividend payout ratio is 107.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LCLN. Alyeska Investment Group L.P. bought a new stake in shares of Lincoln International during the second quarter valued at about $6,326,000. Citadel Advisors LLC acquired a new stake in Lincoln International in the second quarter worth about $22,029,000. Readystate Asset Management LP acquired a new stake in Lincoln International in the second quarter worth about $716,000. Squarepoint Ops LLC bought a new position in Lincoln International in the 2nd quarter valued at about $813,000. Finally, Russell Investments Group Ltd. bought a new position in Lincoln International in the 3rd quarter valued at about $43,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore set a $26.00 target price on Lincoln International in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Lincoln International in a report on Friday. Morgan Stanley reduced their price target on shares of Lincoln International from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, October 8th. Weiss Ratings initiated coverage on shares of Lincoln International in a research report on Monday, August 17th. They set a “sell (e)” rating for the company. Finally, Zacks Research cut shares of Lincoln International from a “hold” rating to a “strong sell” rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.21.

About Lincoln International

Lincoln International is a global investment banking and advisory firm that focuses on serving middle-market companies, private equity firms and other financial sponsors. The firm provides advice on mergers and acquisitions, divestitures, recapitalizations, restructurings and other strategic transactions.

Its services also include capital advisory, private funds advisory, valuation and fairness opinions, and other financial analysis. Lincoln International works with clients across a range of industries, including business services, consumer products, healthcare, industrials, technology and financial services.

Founded in 1996, Lincoln International is headquartered in Chicago and serves clients through offices and professionals across North America, Europe and Asia.