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Mar 31, 2021
Evercore Q1 2021 Earnings Report
Evercore reported record first quarter results driven by strong advisory and underwriting performance.
Key Takeaways
Evercore reported a record first quarter in 2021, with net revenues increasing by 55% to $662.3 million and adjusted net revenues increasing by 54% to $669.9 million. The company's advisory business maintained its #1 league table ranking for announced M&A volumes among independent firms, and the underwriting business experienced significant momentum.
Net Revenues increased 55% on a U.S. GAAP basis and 54% on an Adjusted basis.
Maintained #1 league table ranking among independents for announced M&A volumes.
Underwriting Revenue generated $79 million, reflecting ECM momentum.
Returned $275.3 million to shareholders through dividends and share repurchases.
Evercore
Evercore
Evercore Revenue by Segment
Revenue by Segment
Advisory Fees Revenue
CapyFin.comUnderwriting Fees Revenue
CapyFin.comCommissions and Related Revenue
CapyFin.comAsset Management and Administration Fees Revenue
CapyFin.com Forward Guidance
Evercore is optimistic about continued growth, driven by robust M&A volumes, capital raising activities, and strategic investments in talent and business capabilities.
Positive Outlook
- Strong M&A and capital raising environment
- Momentum in Underwriting business
- Investments in convertibles and SPACs paying off
- Expanded sector coverage creating growth opportunities
- Active dialogues with talented individuals for team expansion
Challenges Ahead
- Quarterly results may fluctuate significantly due to transaction timing
- Travel and related expenses may increase as employees return to offices
- Compensation ratio subject to fluctuation based on revenue earned
- Potential risks described in Evercore's Annual Report on Form 10-K
- Unpredictability of new risks and uncertainties
Revenue & Expenses
Visualization of income flow from segment revenue to net income