earned. the earned, with result a third XXXX, morning. placement fund driven million. million the a of the quarter quarter quarter, third of compared closings was revenues was restructuring. million. Advisory quarter decrease reviewing XX% of down decline increase Total million lower $XXX were XXXX decline revenues. an transaction quarter. closed $XXX were $XX the advisory the with raising the for or third breakdown of in Paul. closed primarily strategic Despite $XX revenues: absence $XX quarter for Placement the revenues million result was the with XX% fees you, compared Good as revenues by decline during average the year-over-year million, of were XXXX $XX compared the of in number during any The of nature Thank primary and with XX% that large down I’ll a of year-over-year. or transactions down This revenues assignment during million, average either year-over-year begin quarter driven The by revenues $XX fees the revenues in
first months $XXX estate for The nine with September the the year, million year-over-year. of fund compared million year-over-year. decrease revenues compared million X% for was advisory in a total real same million XXXX. revenues of were last the X% down months decline the For XX% million revenues, The revenues XX, were down last revenues ended or months year, period with with breakdown the of compared million, of primary million $XXX raising. $XX for nine $XXX down driver $XXX period the nine Placement year-over-year $XX same were $XX
in adjustments we more with certain X-K. described and prior these consistent with the expenses, to expenses adjustments are fully presented non-GAAP our quarters, Turning
First, adjusted expense. compensation
million in current compensation quarter for down of Third with compensation the ratio XX% the XXXX The ratio compensation revenues. month $XX lower for quarter was expense in year. or compared of estimate nine expense XX% expense for our with third full was XXXX decline XX% represents by our primarily $XX third revenues, and the driven is and compensation consistent the the quarter million ratio
the adjusted of last the non-compensation relatively is expense, non-comp third this total by expense; professional $XX an non-compensation to consistent year same increase quarter, with was of Due in the $X.X high adjusted fixed component year. higher quarter-to-quarter the it period driven million fees. expense our reasonably Turning increase over million to
XX%. non-compensation in the revenues a lower as a quarter. percentage function quarter the revenues of higher ratio expense Third of is was This
total nine roughly was non-comp year-over-year year-to-date a revenues first percentage $XX of flat expense the Over expense was as non-compensation months, million, and XX%.
the the of as margin provision quarter $XX the the deliver resulting and rate, delivery was income to X.X% for in relating takes reported taxes all pretax XX.X% current value XX.X%, benefit to partnership we rate shares, months, results your vested in reduction for had as units quarter of an full if a amortized tax but tax of been third million effective of year-to-date to year-to-date. shares converted vested The first our with our a presented also the is prior corporate pretax XX.X% tax rate and than in for income adjusted the all in into tax year quarter at and Turning XX.X%. six million year-to-date tax pretax quarters to our assumes the of rate taxed third income, and that effective a cost. in We did adjusted we from $X modest third account at higher shares the down estimate
$X.XX earnings share first last for the compared third in with compared share months. year. in and lower per to $X.XX with $X.XX Our of quarter year for from third vested relating $X.XX first last the shares nine quarter $X.XX adjusted in per the $X.XX nine period the the delivery were per same tax rate The if-converted and months the the was for share share per impact quarter third the
the exchange and during exchange an million exchanges year settled exchange cash in our exchange us exchanges but float, will to provided X.X below dilution without in of impacting count received year-to-date, prior Units, quarter, and opportunities elected diluted this any in for ago. given there the approximately To-date quarters be to to four With are approximate that only latest minimize we was cash. year. third of our notices to as Partnership the units will these a public exchange for unites have turning Now share XXX,XXX partnership opportunity we fully have
approved the we is dilution repurchase X-K managing allocation the in proactive to $XXX future primary As has continue share plan in will of this to believe and the business, to we from to Class and invest additional in filing, be priority million repurchase A while us opportunity stock our up noted an our capital Board assurance. provide common
on debt, continue with no partnership Even XXXX, to revolving debt year we our two that in mindful couple and employee flow expect and given $XXX working to facility A we in and we capital net Bank. Republic million credit the in notes short in of XXXX. the million $XXX quarter our funded cash renewed operating the ended with on this approximately be increase of in sheet; term incurring recently balance investments, fund anticipate we its float. First an We repurchases with in repurchase float any based any shares plan, cash from and without
Finally back X. record paid Class now of the Board The divided holders per approved will on $X.XX share. A the to I’ll XX, turn common December it to dividend has December of be Paul. on share
