Evercore Q2 2022 Earnings Report
Key Takeaways
Evercore reported second quarter net revenues of $630.9 million on a U.S. GAAP basis. Advisory revenues for the first half of 2022 reached a record $1.2 billion. The firm remains committed to its capital return strategy, returning $502.0 million to shareholders in the first six months of the year.
Second Quarter Net Revenues were $630.9 million.
First Half Net Revenues were flat versus 2021.
Advisory Revenues of $1.2 billion for the first half of 2022, increasing 12% versus the same period in 2021.
Returned $502.0 million to shareholders during the first six months of 2022.
Evercore
Evercore
Evercore Revenue by Segment
Forward Guidance
Despite the uncertain environment, Evercore accomplished a solid second quarter and first half of 2022 and remains confident in its growth strategy.
Positive Outlook
- Backlogs remain strong.
- Investments in the business will allow the company to continue to achieve success.
- Seven Advisory Senior Managing Directors joined this year.
- Committed to capital return strategy.
- Maintain a durable balance sheet.
Challenges Ahead
- Increased risk associated with the current geopolitical, economic, and market headwinds.
- Quarterly results may fluctuate significantly due to the timing and amount of transaction fees earned.
- Lower performance of investment funds portfolio during the current year period.
- Decrease in fees from Wealth Management clients as associated AUM decreased 6%, primarily from market depreciation.
- Shift from gains to losses on investment funds portfolio due to the overall market decline.
Revenue & Expenses
Visualization of income flow from segment revenue to net income