Big Law Firms See Mixed Q3 Lobbying Revenue as Election Approaches.

Big Law firms experienced varied lobbying earnings in the third quarter of 2024, with some seeing declines while others reported increases. Brownstein Hyatt Farber Schreck and K&L Gates saw revenue drops compared to Q2, while Akin Gump Strauss Hauer & Feld and Hogan Lovells reported increases. The mixed results come as attention shifts to the upcoming U.S. election, with some clients adopting a "wait and see" approach.

Despite the slowdown, firms remain busy with lobbying activities related to the National Defense Authorization Act and expiring provisions of the Tax Cuts and Jobs Act. Brownstein and Akin are on track to lead in lobbying revenue for Q3 2024 and are poised for record years. The upcoming election between Donald Trump and Kamala Harris is causing uncertainty, with firms anticipating potential changes in Washington regardless of the outcome.

Brownstein reported $17 million in Q3 revenue, slightly down from Q2 but up from Q3 2023. Akin saw its strongest quarter ever with $14.3 million in revenue. K&L Gates reported a decline to $4 million, while Hogan Lovells saw an increase to $3.34 million. Despite the mixed results, firms remain optimistic about post-election engagement and are preparing for potential policy shifts in areas such as tax, healthcare, and AI.

Report by The National Law Journal