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Dec 31, 2022
Evercore Q4 2022 Earnings Report
Evercore's Q4 2022 results reflected a decrease in revenue and net income compared to the previous year, but the firm achieved its second-best full-year performance in history.
Key Takeaways
Evercore reported Q4 2022 net revenues of $831.3 million and net income of $140.4 million on a U.S. GAAP basis. Adjusted net revenues were $836.7 million and adjusted net income was $152.4 million. While these results represent a decrease compared to Q4 2021, Evercore's full-year performance was the second best in the firm's history.
Q4 Net Revenues were $831.3 million on a U.S. GAAP basis and $836.7 million on an Adjusted basis, decreasing versus 2021.
Q4 Net Income was $140.4 million on a U.S. GAAP basis and $152.4 million on an Adjusted basis, decreasing versus 2021.
Full Year Advisory Fees were $2.4 billion on both a U.S. GAAP and an Adjusted basis, representing the second best year in Evercore's history.
Evercore was bookrunner on all equity and equity-linked underwriting transactions that the Firm participated in.
Revenue by Segment
Forward Guidance
Evercore does not provide specific financial guidance. However, they remain focused on executing their growth strategy and believe the breadth and depth of their diverse platform will continue to drive long-term value.
Positive Outlook
- Firm has never been more strongly positioned competitively.
- Remain focused on executing our growth strategy.
- Believe the breadth and depth of our diverse platform will continue to drive long-term value.
- Advisory team in Europe had a record year.
- Private capital advisory activities had the second-best year on record.
Challenges Ahead
- Evercore's quarterly results may fluctuate significantly due to the timing and amount of transaction fees earned.
- Weakening macroeconomic conditions.
- Uncertainty about how 2023 will unfold.
- Advisory Fees decreased $267.0 million, or 27%, year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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