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Jun 30
Evercore Q2 2025 Earnings Report
Evercore reported strong second quarter 2025 results, with record net revenues and significant increases in operating income and diluted EPS compared to the prior year.
Key Takeaways
Evercore delivered a robust second quarter in 2025, achieving record net revenues of $833.8 million, a 21% increase year-over-year. Operating income surged by 39% to $150.4 million, and diluted earnings per share rose to $2.36. The company's advisory business had record revenues, contributing to overall strong performance.
Record Second Quarter Net Revenues reached $833.8 million on a U.S. GAAP basis, marking a 21% increase from Q2 2024.
Operating Income grew by 39% to $150.4 million, with operating margins improving to 18.0% on a U.S. GAAP basis.
Diluted Earnings Per Share increased to $2.36, up from $1.81 in the same period last year.
The Advisory business achieved record second quarter revenues and advised on significant transactions, including 4 of the 10 largest year-to-date.
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.comOther Revenue, Including Interest and Investments Revenue
CapyFin.com Forward Guidance
Evercore anticipates continued strong momentum into the second half of the year, driven by its advisory business and strategic acquisitions. The company remains focused on client coverage, execution quality, and long-term growth strategies.
Positive Outlook
- Strong momentum expected to continue into the second half of the year.
- Acquisition of Robey Warshaw is anticipated to enhance the independent advisory firm's presence in the United Kingdom.
- Advisory business continues to secure significant transactions, indicating sustained client demand.
- Continued expansion of Investment Banking Senior Managing Directors and Wealth Management partners, strengthening talent base.
- Commitment to capital return through quarterly dividends and share repurchases.
Challenges Ahead
- Quarterly results may fluctuate significantly due to the timing and amount of transaction fees.
- Effective tax rate increased year-over-year, potentially impacting future net income.
- Other Revenue, net, decreased year-to-date, primarily due to lower performance of investment funds portfolio.
- The investment funds portfolio, used as an economic hedge, showed lower performance.
- No specific negative forward-looking statements were explicitly mentioned beyond the general fluctuation of results.