Locke Lord offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM Revenue Was Flat at Locke Lord in 2023, But Profits Per Partner Inched Up in 'Solid' Year
The Dallas-founded firm's lawyer head count grew slightly, a turnaround from years of declining lawyer numbers.
March 08, 2024 at 02:44 PM
5 minute read
Law Firm Profitability
What You Need to Know
- Revenue was flat at Locke Lord in 2023, coming in at a half-percent less than in 2022.
- Profits per equity partner improved, despite a 3.6% decline in net income, as the number of equity partners dropped by 6.7%.
- Busier practices include private equity, energy M&A and transactions, insurance and reinsurance transactions and litigation, financial services and litigation, but real estate felt the effects of higher interest rates.
Profits per equity partner improved by 3.3% at Locke Lord in 2023, but revenue slipped marginally as some practices were busy, but others faced challenges from higher interest rates.
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