PJT’s Help for ‘Walking Wounded’ Drives a Near-Record Profit (1)

PJT Partners Inc. said its work with “walking wounded” firms could help the investment bank approach a record year, as its restructuring arm drove a banner first quarter that beat analysts’ estimates.

With the effects from pandemic-era fiscal stimulus waning, New York-based PJT is drawing fees from its work with firms trying to survive amid trends that are disrupting their sectors, including artificial intelligence and decarbonization.

“What that did is it enabled companies to continue, but they’re really the walking wounded and at some point they need to address their issues,” Chief Executive Officer Paul Taubman said Thursday on a ...