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Dec 31, 2023
Evercore Q4 2023 Earnings Report
Evercore reported fourth quarter results with a slight decrease in net revenues compared to the previous year, but demonstrated strength in its Equities business and strategic advisory roles.
Key Takeaways
Evercore reported Q4 2023 results, with net revenues of $784.2 million on a U.S. GAAP basis and $790.3 million on an adjusted basis. The company advised on significant transactions and saw its Equities business achieve its strongest fourth quarter in five years. Despite a challenging operating environment in 2023, Evercore continued to invest in its business.
Q4 Net Revenues were $784.2 million on a U.S. GAAP basis.
Evercore advised Chevron on its $60 billion acquisition of Hess.
Equities business had its strongest fourth quarter revenue in the past five years.
Company returned $523.5 million to shareholders during 2023.
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 anticipates continued strengthening of market activity and internal dialogue levels, with ongoing investments in the business expected to drive market share gains.
Positive Outlook
- Strengthening of market activity
- Exceptional group of newly promoted and externally hired SMDs
- Better positioned than at any point in history to gain market share
- Advised on three of the four largest global transactions to date
- Commitment to invest heavily in the business
Challenges Ahead
- No specific negative aspects provided in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income