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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.
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
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.
- Continue to monitor debt covenants
Revenue & Expenses
Visualization of income flow from segment revenue to net income