Core Viewpoint - Evercore (EVR) reported quarterly earnings of $2.42 per share, exceeding the Zacks Consensus Estimate of $1.78 per share, and showing an increase from $1.81 per share a year ago, resulting in an earnings surprise of +35.96% [1][2] Financial Performance - The company achieved revenues of $838.86 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 17.65%, compared to $695.27 million in the same quarter last year [2] - Over the last four quarters, Evercore has consistently exceeded consensus EPS estimates and revenue estimates [2] Stock Performance - Evercore shares have increased approximately 9.2% since the beginning of the year, outperforming the S&P 500's gain of 8.3% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.26 on revenues of $770.11 million, and for the current fiscal year, it is $11.71 on revenues of $3.31 billion [7] - The Zacks Rank for Evercore is currently 1 (Strong Buy), indicating expectations for the stock to outperform the market in the near future [6] Industry Context - The Financial - Investment Bank industry, to which Evercore belongs, is currently ranked in the top 6% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this sector [8]

[Financial & Business Highlights](index=1&type=section&id=Financial%20%26%20Business%20Highlights) Evercore achieved record Q2 and H1 2025 revenues, driven by strong growth in both GAAP and Adjusted metrics and strategic business developments Q2 & YTD 2025 Financial Performance Summary | Metric | Q2 2025 (GAAP) ($ mm) | Q2 2024 (GAAP) ($ mm) | Q2 2025 (Adjusted) ($ mm) | Q2 2024 (Adjusted) ($ mm) | | :--- | :--- | :--- | :--- | :--- | | **Net Revenues** | $833.8 | $689.2 | $838.9 | $695.3 | | **Operating Income** | $150.4 | $108.2 | $157.1 | $114.3 | | **Net Income Attributable to Evercore Inc.** | $97.2 | $73.8 | $105.4 | $78.7 | | **Diluted EPS ($)** | $2.36 | $1.81 | $2.42 | $1.81 | | **Operating Margin** | 18.0% | 15.7% | 18.7% | 16.4% | - Announced an agreement to acquire Robey Warshaw, a successful independent advisory firm based in the United Kingdom[2](index=2&type=chunk) - The Advisory business achieved record second quarter and first half revenues, advising on **4** of the **10** largest transactions year-to-date[2](index=2&type=chunk) - Year-to-date, **nine** Investment Banking Senior Managing Directors (SMDs) and one Senior Advisor have started or will join the firm, with **four** joining since the last earnings call[2](index=2&type=chunk) - Returned **$532.1 million** to shareholders in the first half of 2025 through dividends and the repurchase of **1.7 million** shares[2](index=2&type=chunk) [Leadership Commentary](index=3&type=section&id=Leadership%20Commentary) Leadership expressed satisfaction with record Q2 and H1 revenues, emphasizing strong forward momentum for the second half of the year - John S. Weinberg, Chairman and CEO, stated: "We are pleased with our forward momentum and remain focused on our client coverage, the quality of our execution, and our longer term strategy"[4](index=4&type=chunk) - Roger C. Altman, Founder and Senior Chairman, noted: "We delivered the strongest second quarter and first half revenues in our history, and are entering the second half of the year with meaningful momentum"[4](index=4&type=chunk) [Basis of Financial Presentation](index=4&type=section&id=Basis%20of%20Financial%20Presentation) Financial results are presented across two segments, utilizing non-GAAP Adjusted measures for comparability and reflecting a reclassification of technology expenses - The company's results are categorized into two segments: Investment Banking & Equities and Investment Management[6](index=6&type=chunk) - The report uses non-GAAP 'Adjusted' financial measures, which exclude certain items like acquisition costs and reflect the conversion of LP Units, to help investors understand operating performance[7](index=7&type=chunk) - In Q2 2025, the company reclassified technology and related expenses from 'Professional Fees' to a newly renamed 'Technology and Information Services' category. This change was applied to prior periods for comparability and did not affect previously reported Operating Income or EPS[10](index=10&type=chunk)[11](index=11&type=chunk) [U.S. GAAP Financial Results](index=6&type=section&id=U.S.%20GAAP%20Financial%20Results) GAAP Q2 2025 net revenues rose 21% to **$833.8 million**, with operating income up 39% to **$150.4 million**, driven by advisory fees and improved margins [Net Revenues](index=6&type=section&id=U.S.%20GAAP%20Net%20Revenues) GAAP Net Revenues for Q2 2025 increased 21% to **$833.8 million**, primarily driven by a 23% rise in Advisory Fees U.S. GAAP Net Revenues by Source (in thousands) | Revenue Source | Q2 2025 ($ thousands) | Q2 2024 ($ thousands) | % Change | | :--- | :--- | :--- | :--- | | Advisory Fees | $697,744 | $568,231 | 23% | | Underwriting Fees | $32,206 | $30,999 | 4% | | Commissions and Related Revenue | $58,272 | $53,199 | 10% | | Asset Management and Administration Fees | $20,684 | $19,200 | 8% | | **Total Net Revenues** | **$833,830** | **$689,224** | **21%** | - The number of advisory and underwriting client fees of at least **$1 million** increased by **17% YoY** to **111** in Q2 2025[14](index=14&type=chunk) - Assets Under Management (AUM) in the Wealth Management business grew **10% YoY** to **$14.48 billion**, primarily due to market appreciation[14](index=14&type=chunk)[18](index=18&type=chunk) [Expenses](index=7&type=section&id=U.S.%20GAAP%20Expenses) Total GAAP expenses were **$683.4 million**, with employee compensation up 20% to **$548.6 million**, and an improved compensation ratio of **65.8%** U.S. GAAP Expenses (in thousands) | Expense Category | Q2 2025 ($ thousands) | Q2 2024 ($ thousands) | % Change | | :--- | :--- | :--- | :--- | | Employee Compensation and Benefits | $548,611 | $458,935 | 20% | | Non-Compensation Costs | $134,830 | $122,046 | 10% | | **Total Expenses** | **$683,441** | **$580,981** | **18%** | - The GAAP compensation ratio for Q2 2025 improved to **65.8%** from **66.6%** in Q2 2024, while the non-compensation ratio improved to **16.2%** from **17.7%**[20](index=20&type=chunk) [Effective Tax Rate](index=8&type=section&id=U.S.%20GAAP%20Effective%20Tax%20Rate) The GAAP effective tax rate for Q2 2025 was **29.3%**, while the year-to-date rate was **1.0%** due to share-based award deductions - The Q2 2025 effective tax rate was **29.3%**, compared to **25.8%** in Q2 2024[23](index=23&type=chunk) - The year-to-date effective tax rate was **1.0%**, down from **11.0%** in the prior year, mainly due to deductions from vested employee share-based awards[23](index=23&type=chunk) [Adjusted Financial Results](index=9&type=section&id=Adjusted%20Financial%20Results) Adjusted Q2 2025 net revenues increased 21% to **$838.9 million**, with operating income up 37% to **$157.1 million** and an **18.7%** operating margin [Adjusted Net Revenues](index=9&type=section&id=Adjusted%20Net%20Revenues) Adjusted Net Revenues for Q2 2025 rose 21% to **$838.9 million**, primarily driven by a **23%** increase in Adjusted Advisory Fees Adjusted Net Revenues by Source (in thousands) | Revenue Source | Q2 2025 ($ thousands) | Q2 2024 ($ thousands) | % Change | | :--- | :--- | :--- | :--- | | Advisory Fees | $697,755 | $568,378 | 23% | | Underwriting Fees | $32,206 | $30,999 | 4% | | Commissions and Related Revenue | $58,272 | $53,199 | 10% | | Asset Management and Administration Fees | $21,488 | $20,910 | 3% | | **Total Net Revenues** | **$838,855** | **$695,270** | **21%** | [Adjusted Expenses](index=10&type=section&id=Adjusted%20Expenses) Adjusted Employee Compensation and Benefits increased 20% to **$548.6 million**, with the adjusted compensation ratio improving to **65.4%** Adjusted Expenses (in thousands) | Expense Category | Q2 2025 ($ thousands) | Q2 2024 ($ thousands) | % Change | | :--- | :--- | :--- | :--- | | Employee Compensation and Benefits | $548,611 | $458,935 | 20% | | Non-Compensation Costs | $133,193 | $122,046 | 9% | | **Total Expenses** | **$681,804** | **$580,981** | **17%** | - The adjusted compensation ratio for Q2 2025 improved to **65.4%** from **66.0%** in Q2 2024[34](index=34&type=chunk) [Adjusted Effective Tax Rate](index=11&type=section&id=Adjusted%20Effective%20Tax%20Rate) The adjusted effective tax rate for Q2 2025 was **30.0%**, while the year-to-date rate was **0.5%** due to share-based award benefits - The Q2 2025 adjusted effective tax rate was **30.0%**, compared to **26.9%** in Q2 2024[36](index=36&type=chunk) - The year-to-date adjusted effective tax rate was **0.5%**, down from **11.0%** in the prior year[36](index=36&type=chunk) [Balance Sheet and Operational Metrics](index=11&type=section&id=Balance%20Sheet%20and%20Operational%20Metrics) Evercore maintains strong liquidity with **$617.3 million** cash and **$1.6 billion** net current assets, alongside increased headcount and deferred compensation [Liquidity](index=11&type=section&id=Liquidity) As of June 30, 2025, the company held **$617.3 million** in cash and **$1.1 billion** in investment securities, with **$1.6 billion** net current assets - As of June 30, 2025, cash and cash equivalents were **$617.3 million** and investment securities were **$1.1 billion**[37](index=37&type=chunk) [Headcount](index=11&type=section&id=Headcount) Total headcount increased to approximately **2,455** as of June 30, 2025, with Investment Banking Senior Managing Directors growing to **159** - Total employees increased to approximately **2,455** as of June 30, 2025, from **2,330** a year earlier[38](index=38&type=chunk) - The number of Investment Banking Senior Managing Directors increased to **159** as of June 30, 2025, from **143** as of June 30, 2024[38](index=38&type=chunk) [Deferred Compensation](index=11&type=section&id=Deferred%20Compensation) Year-to-date, **1.7 million** RSUs valued at **$435.2 million** and **$83.0 million** in deferred cash awards were granted, with **$899.3 million** in unvested RSUs - Year-to-date, the company granted **1.7 million** RSUs with a grant date fair value of **$435.2 million** and **$83.0 million** of deferred cash awards[39](index=39&type=chunk) - As of June 30, 2025, the company had **4.7 million** unvested RSUs with an aggregate grant date fair value of **$899.3 million**[41](index=41&type=chunk) - The company expects to pay an aggregate of **$340.9 million** related to its deferred cash compensation program through 2029[42](index=42&type=chunk) [Capital Return](index=12&type=section&id=Capital%20Return) Evercore declared a **$0.84** quarterly dividend and repurchased **1.7 million** shares year-to-date at an average price of **$258.50** - The Board of Directors declared a quarterly dividend of **$0.84 per share**, payable on September 12, 2025[44](index=44&type=chunk) - Year-to-date, the Company repurchased an aggregate of **1.7 million shares** at an average price of **$258.50 per share**. This includes **0.8 million shares** under the share repurchase program and **0.9 million shares** for net settlement of stock-based awards[45](index=45&type=chunk) [Financial Statements and Reconciliations (Appendix)](index=14&type=section&id=Financial%20Statements%20and%20Reconciliations%20%28Appendix%29) This appendix provides detailed unaudited financial statements, including GAAP and Adjusted reconciliations, segment results, and explanatory notes for non-GAAP adjustments [Condensed Consolidated Statements of Operations (U.S. GAAP)](index=15&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20%28U.S.%20GAAP%29) Presents the detailed unaudited U.S. GAAP income statement for the three and six months ended June 30, 2025 and 2024 [U.S. GAAP to Adjusted Results Reconciliation](index=16&type=section&id=U.S.%20GAAP%20to%20Adjusted%20Results%20Reconciliation) Details the reconciliation of key financial metrics from U.S. GAAP to Adjusted results, including Net Revenues, Operating Income, Net Income, and Diluted EPS [Segment Results and Reconciliations](index=19&type=section&id=Segment%20Results%20and%20Reconciliations) Presents a breakdown of financial results for Investment Banking & Equities and Investment Management segments on both GAAP and Adjusted bases [Non-Compensation Costs Reconciliation](index=22&type=section&id=Non-Compensation%20Costs%20Reconciliation) Details the components of U.S. GAAP non-compensation costs and adjustments to derive Adjusted non-compensation cost figures [Notes to Financial Data](index=23&type=section&id=Notes%20to%20Financial%20Data) Provides explanatory notes for adjustments used in reconciling U.S. GAAP to Adjusted financial data, covering various financial items

Core Insights - Evercore Inc. (EVR) is expected to report second-quarter 2025 results on July 30, 2025, with a consensus estimate for sales at $713 million, reflecting a 2.5% year-over-year increase [1] - The earnings consensus estimate remains unchanged at $1.78 per share, indicating a 1.7% decline from the prior-year quarter [2] - Evercore has a strong earnings surprise history, having outperformed the Zacks Consensus Estimate in the last four quarters with an average beat of 37.35% [2] Investment Banking & Equities - Global mergers and acquisitions activity in Q2 2025 was stronger than anticipated, although advisory fees are expected to decline by 1.9% year-over-year to $557.3 million [3][4] - The IPO market saw a significant rebound, leading to an expected 10% increase in underwriting fees to $34.1 million compared to the prior-year quarter [5][6] - High trading volumes due to market volatility are likely to have improved commission and related fees, with a consensus estimate of $56.92 million, suggesting a 6.9% increase year-over-year [6] Asset Management - Favorable market conditions and sustained client inflows are expected to result in a 20.9% year-over-year increase in asset management and administration fees, with a consensus estimate of $22.25 billion [7] Expenses - Company expenses are anticipated to rise in Q2 2025 due to increased employee compensation and benefits costs [7] Earnings Outlook - The model indicates a high probability of Evercore beating estimates, supported by a positive Earnings ESP of +4.79% and a Zacks Rank of 1 (Strong Buy) [8][9] - Key factors contributing to potential earnings growth include increased AUM, a rebound in IPOs, and strong trading volumes, although higher compensation expenses may pressure profitability [8]

Core Viewpoint - Evercore Inc (EVR) is showing potential for a bullish breakout as it has reached a significant support level and experienced a "golden cross" in its moving averages [1][2]. Technical Analysis - A "golden cross" occurs when a stock's short-term moving average (50-day) crosses above its long-term moving average (200-day), indicating a bullish trend [2]. - The formation of a golden cross involves three stages: a downtrend that bottoms out, the crossover of moving averages, and a subsequent upward price movement [3]. Recent Performance - EVR has increased by 21.1% over the past four weeks, suggesting strong momentum [4]. - The company currently holds a 1 (Strong Buy) rating on the Zacks Rank, indicating positive market sentiment [4]. Earnings Outlook - There have been no cuts to earnings estimates for the current quarter, with two revisions upward in the last 60 days, contributing to a positive earnings outlook [4]. - The Zacks Consensus Estimate for earnings has also increased, further supporting the bullish case for EVR [5].

Core Viewpoint - Evercore (EVR) is positioned well to continue its trend of beating earnings estimates in upcoming quarterly reports, supported by a strong history of performance in the investment banking sector [1]. Group 1: Earnings Performance - Evercore has consistently surpassed earnings estimates, achieving an average beat of 67.86% over the last two quarters [2]. - In the most recent quarter, Evercore was expected to report earnings of $3.49 per share but instead reported $1.6 per share, resulting in a surprise of 118.13% [2]. - For the previous quarter, the consensus estimate was $2.9 per share, while the actual earnings were $3.41 per share, leading to a surprise of 17.59% [2]. Group 2: Earnings Estimates and Predictions - There has been a favorable adjustment in earnings estimates for Evercore, with a positive Zacks Earnings ESP (Expected Surprise Prediction) indicating potential for another earnings beat [5]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [6]. - Evercore currently has an Earnings ESP of +13.81%, suggesting increased analyst optimism regarding its near-term earnings potential [7]. Group 3: Importance of Earnings ESP - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [7]. - A positive Earnings ESP combined with a Zacks Rank 1 (Strong Buy) indicates a high likelihood of another earnings beat for Evercore [7]. - It is crucial for investors to check a company's Earnings ESP prior to quarterly releases to enhance the probability of successful investment decisions [9].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Evercore (EVR) - Evercore currently holds a Momentum Style Score of B and a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperformance [2][3] - The stock has shown significant price performance, with a 1.4% increase over the past week, compared to a 0.82% decline in the Zacks Financial - Investment Bank industry [5] - Over the past quarter, Evercore shares have risen 66.78%, and 23.79% over the last year, outperforming the S&P 500's gains of 16.27% and 12.91%, respectively [6] Trading Volume - Evercore's average 20-day trading volume is 583,648 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, two earnings estimates for Evercore have increased, raising the consensus estimate from $10.79 to $11.71 [9] - For the next fiscal year, two estimates have also moved upwards, with no downward revisions noted [9] Conclusion - Given the strong performance metrics and positive earnings outlook, Evercore is positioned as a 1 (Strong Buy) stock with a Momentum Score of B, making it a compelling investment option [11]

Core Viewpoint - Evercore (EVR) presents a strong investment opportunity due to its improving earnings outlook and analysts' increasing earnings estimates [1][2] Earnings Estimate Revisions - Analysts have shown growing optimism regarding Evercore's earnings prospects, reflected in the upward trend of estimate revisions, which typically correlates with stock price movements [2] - The consensus earnings estimate for the current quarter is $1.49 per share, a decrease of 17.68% from the previous year, but has increased by 6.07% over the last 30 days due to one upward revision [6] - For the full year, the expected earnings are $11.41 per share, representing a 21.13% increase from the prior year, with a 5.8% increase in consensus estimates over the past month [7][8] Zacks Rank and Performance - Evercore has achieved a Zacks Rank 1 (Strong Buy), indicating strong potential for outperformance based on earnings estimate revisions [9] - Historically, Zacks 1 Ranked stocks have generated an average annual return of +25% since 2008, suggesting a favorable investment environment for Evercore [3] Stock Performance - The stock has appreciated by 13.1% over the past four weeks, indicating positive market sentiment and potential for further upside [10]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: Evercore (EVR) - Evercore currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3]. - The company has a Zacks Rank of 1 (Strong Buy), which historically outperforms the market when combined with a Style Score of A or B [4]. Performance Metrics - Over the past week, Evercore's shares increased by 1.84%, outperforming the Zacks Financial - Investment Bank industry, which rose by 1.49% [6]. - In a longer timeframe, Evercore's shares have risen by 32.28% over the past three months and 36.33% over the past year, while the S&P 500 only increased by 6.01% and 13.18%, respectively [7]. - The average 20-day trading volume for Evercore is 493,485 shares, indicating a bullish sign with rising stock prices [8]. Earnings Outlook - In the last two months, two earnings estimates for Evercore have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $9.67 to $11.41 [10]. - For the next fiscal year, two estimates have also moved upwards, with no downward revisions during the same period [10]. Conclusion - Given the strong performance metrics and positive earnings outlook, Evercore is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a compelling investment option [11][12].

Evercore (EVR) FY 2025 Annual General Meeting June 11, 2025 09:00 AM ET Speaker0 Good morning and welcome to the twenty twenty five Annual Meeting of Stockholders of Evercore. Please note that this meeting will be recorded and will consist of copyrighted material. You may not record or rebroadcast these materials without Evercore's consent. I will now turn the call over to John Weinberg, Chairman of the Board and Chief Executive Officer of Evercore. Speaker1 Thank you. We sincerely thank you for taking the ...

Evercore (EVR) 2025 Conference June 10, 2025 11:25 AM ET Speaker0 All right, I'll start with our disclosure. So for important disclosures, please see Morgan Stanley Research disclosure website, ww.morganstanley.com/researchdisclosures. If you have any questions, please feel free to reach out to your Morgan Stanley sales representative. All right. So we are pleased to have with us John Weinberg, Chairman and CEO of Evercore. John, thanks so much for joining us. Speaker1 Thank you for having me. Speaker0 So j ...