Five Pa. Firms Hold Steady in Am Law Second Hundred
The Pennsylvania firms barely budged from their previous perches in the annual ranking of the country's highest-grossing law firms.
May 22, 2019 at 02:34 PM
2 minute read
The Am Law Second Hundred was announced May 22.
Pennsylvania's Am Law Second Hundred law firms saw only slight movement in the rankings of law firms by gross revenue, in a year when upward movement required strong revenue growth.
Pepper Hamilton and Buchanan Ingersoll & Rooney are still the two biggest firms by revenue in the state among the Second Hundred, which includes firms ranked 101 to 200 in the Am Law 200. But both dropped slightly in the rankings.
Pepper Hamilton had been in the Am Law 100 for several years until dropping into the Second Hundred last year. Another year of gross revenue decline took the firm down four places, to No. 105. However, a decline in head count contributed to its results—Pepper saw revenue per lawyer (RPL) actually increase by 3.8%, to $789,000.
Buchanan posted a 1% increase in gross revenue from 2017 to 2018. But as other firms reported greater growth, Buchanan dropped one place in the Second Hundred, to 113.
The other three Pennsylvania firms on the list—Saul Ewing Arnstein & Lehr, Marshall Dennehey Warner Coleman & Goggin, and Eckert Seamans Cherin & Mellott—each climbed two spots, driven by mid-single-digit revenue growth.
Nationwide, the Am Law Second Hundred in 2018 had one of its best all-around financial performances in a decade. Among those 100 firms, 11 grew revenue more than 10% and 38 saw revenue increase more than 5%.
While 25 firms in the Second Hundred saw revenue declines, that is an improvement from the prior year, when 32 firms saw gross revenue dip. Only two firms in 2018 saw revenue decline by more than 10%.
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