Lincoln

Q2 FY2026 EarningsQ2 FY26 results significantly beat consensus on the top line with revenue of $225.7M (+36.5% vs. expected $165.3M), driven by a 56% YoY surge in Investment Banking Advisory and the integration of MarshBerry. However, the bottom line was pressured by non-recurring IPO-related charges, including a $28.7M Liquidity Event Share expense, resulting in a GAAP net loss. Normalized EPS and net income missed consensus due to these structural and one-time transition costs associated with the May 2026 IPO, while the effective tax rate was volatile due to the new corporate structure.