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Sep 30, 2020
Evercore Q3 2020 Earnings Report
Evercore's Q3 2020 earnings were reported, marked by flat net revenues and a significant surge in underwriting revenue.
Key Takeaways
Evercore reported flat net revenues on both U.S. GAAP and adjusted basis compared to Q3 2019. Underwriting revenue increased by 278% compared to the prior year period. The firm maintained its #1 league table ranking for announced M&A transaction volume among independents.
Net Revenues were flat compared to the prior year period.
Underwriting Revenue increased 278% versus the prior year period.
Maintained #1 league table ranking for announced M&A transaction volume among independents.
Quarterly dividend increased 5% to $0.61 per share.
Revenue by Segment
Forward Guidance
Evercore's diverse capabilities have enabled them to offset weakened M&A activity and offer relevant services to their clients.
Positive Outlook
- Evercore's broad and diverse capabilities, including underwriting, restructuring, capital markets advisory and equity commissions and related fees, have enabled them to predominantly offset weakened M&A activity
- Teams continue to work diligently
- Continue to monitor cash levels
- Continue to monitor liquidity
- Continue to monitor regulatory capital requirements
Challenges Ahead
- The worldwide COVID-19 pandemic has posed, and is expected to continue to pose, significant challenges for our business.
- Revenues and cash flows have been adversely impacted to date
- There remains uncertainty as to how the pandemic and government response may impact the markets
- There remains uncertainty as to how the pandemic and government response may impact our clients' needs in the future.
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
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