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Mar 31, 2023
Evercore Q1 2023 Earnings Report
Evercore's first quarter results were announced, showing a decrease in revenue compared to the previous year, but highlighting strategic advisory roles and capital return to shareholders.
Key Takeaways
Evercore reported a decrease in first quarter net revenues to $572.1 million on a U.S. GAAP basis and $577.8 million on an Adjusted basis, a 21% decrease compared to Q1 2022. The company advised on notable transactions, including Blackstone's acquisition of Cvent and Diversey Holdings' sale to Solenis. Despite challenging market conditions, Evercore returned $327.8 million to shareholders through dividends and share repurchases.
First Quarter Net Revenues decreased 21% on both a U.S. GAAP and an Adjusted basis versus First Quarter 2022.
Evercore advised Blackstone on its $4.6 billion acquisition of Cvent.
Evercore served as a bookrunner on the two largest follow-on offerings in the quarter, American Water Works $1.7bn and AerCap’s $1.3bn.
Returned $327.8 million to shareholders during the quarter through dividends and repurchases of 2.2 million shares at an average price of $132.20.
Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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