Houlihan Lokey, Inc. (HLI) reported a typically strong set of 3QFY20 numbers – revenue rose 12% YoY to $334 million, while adjusted EPS beat consensus estimates by a solid $0.10 to come in at $0.88. Driving the earnings beat were favorable macro-economic trends that provided a strong tailwind to fuel the growth in the corporate finance and advisory businesses. Overall, the resilience of HLI’s earnings profile, primarily the result of its counter-cyclical restructuring business, coupled with a strong leadership team and its multiple expansion opportunities across business lines and geographies, reinforces my confidence