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Jun 30, 2023
Evercore Q2 2023 Earnings Report
Evercore's Q2 2023 results were announced, showing decreased net revenues but increased underwriting fees.
Key Takeaways
Evercore reported second quarter net revenues of $499.4 million on a U.S. GAAP basis and $505.1 million on an Adjusted basis, a decrease of 21% compared to the previous year. However, underwriting fees increased by 183% year-over-year, driven by an increase in the number of transactions. The firm's adjusted EPS was $0.96, compared to $2.46 in the prior year.
Second Quarter and First Half Net Revenues were $499.4 million and $1.1 billion, respectively, on a U.S. GAAP basis and $505.1 million and $1.1 billion, respectively, on an Adjusted basis.
Evercore participated in two of the top three largest follow-on offerings in the quarter, including lead-left bookrunner on GE Healthcare Technologies, Inc.’s $2.2 billion follow-on offering.
Advisory Senior Managing Directors committed to join Evercore, strengthening coverage in European Telecommunications, Technology, Sponsors, Industrials, Business Services and Real Estate.
Returned $418.7 million to shareholders during the first six months of 2023 through dividends and repurchases of 2.7 million shares at an average price of $128.01.
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
We continue to focus on serving our clients. It has been an extraordinary time to recruit exceptional talent and we are proud of our hiring success so far this year, positioning the Firm for when the market recovers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income