Loading...
•
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.
Revenue by Segment
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...