Financial Performance - First Quarter Net Revenues reached $694.8 million on a U.S. GAAP basis, a 20% increase compared to Q1 2024[2] - Operating Income for Q1 was $111.2 million on a U.S. GAAP basis, reflecting a 32% increase year-over-year[3] - Net Income attributable to Evercore Inc. was $146.2 million, up 70% from $85.7 million in Q1 2024[2] - Diluted Earnings Per Share increased to $3.48, compared to $2.09 in the same quarter last year, marking a 66% rise[2] - Net Revenues for Q1 2025 increased to $694.829 million, up 19.6% from $580.815 million in Q1 2024[49] - Adjusted Net Revenues for Q1 2025 were $699.901 million, compared to $587.328 million in Q1 2024, reflecting a 19.1% increase[49] - Operating Income on a U.S. GAAP basis for Q1 2025 was $111.184 million, a 32.2% increase from $84.120 million in Q1 2024[49] - Adjusted Operating Income for Q1 2025 reached $116.256 million, up from $90.633 million in Q1 2024, representing a 28.3% increase[49] - Net Income Attributable to Evercore Inc. on a U.S. GAAP basis for Q1 2025 was $146.184 million, compared to $85.693 million in Q1 2024, marking a 70.5% increase[49] - Adjusted Net Income Attributable to Evercore Inc. for Q1 2025 was $154.803 million, up from $92.867 million in Q1 2024, a 66.7% increase[49] - Diluted Earnings Per Share (EPS) on a U.S. GAAP basis for Q1 2025 was $3.48, compared to $2.09 in Q1 2024, an increase of 66.5%[49] - Adjusted Diluted EPS for Q1 2025 was $3.49, up from $2.13 in Q1 2024, reflecting a 64.0% increase[49] - The Operating Margin on a U.S. GAAP basis improved to 16.0% in Q1 2025 from 14.5% in Q1 2024[49] Advisory and Revenue Streams - Advisory Fees rose by $127.5 million, or 30%, year-over-year, driven by large transactions[13] - Evercore advised on significant transactions, including Calpine's $29.1 billion sale to Constellation Energy[3] - Net revenues for Investment Banking & Equities increased to $674.532 million in Q1 2025, up 20% from $561.728 million in Q1 2024[58] - Advisory fees rose to $557.349 million, a 30% increase compared to $429.838 million in the same period last year[58] - Commissions and Related Revenue increased by $6.9 million, or 14%, year-over-year, driven by higher trading commissions due to increased trading volume[24] - Asset Management and Administration Fees reached $20.983 million, a 12.9% increase from $18.699 million in Q1 2024[58] Expenses and Costs - Total expenses for the company were $583.645 million, reflecting a 17.5% increase from $496.695 million in Q1 2024[58] - Employee compensation and benefits expenses increased to $459.825 million, up 18.6% from $387.705 million in the same quarter last year[58] - Adjusted Employee Compensation and Benefits increased by $72.1 million, or 19%, year-over-year, with an adjusted compensation ratio of 65.7% compared to 66.0% in the prior year[27] - Non-compensation costs rose to $123.820 million, a 13.5% increase compared to $108.990 million in Q1 2024[58] - Adjusted Non-Compensation Costs rose by $14.8 million, or 14%, year-over-year, primarily due to increased expenses in communications, information services, and occupancy[28] Shareholder Returns - The company returned $454.3 million to shareholders through dividends and share repurchases during the quarter[3] - The quarterly dividend was increased by 5% to $0.84 per share[3] - The Board of Directors declared a quarterly dividend of $0.84 per share to be paid on June 13, 2025[37] - During the first quarter, the company repurchased 1.6 million shares at an average price of $261.15 per share[38] Assets and Employment - Total Assets Under Management increased by 5% to $13.7 billion from $12.999 billion in Q1 2024[12] - As of March 31, 2025, cash and cash equivalents were $553.0 million, with current assets exceeding current liabilities by $1.4 billion[30] - The company employed approximately 2,395 people as of March 31, 2025, up from 2,225 in the previous year[31] Taxation - The effective tax rate for Q1 was (37.2%), influenced by a tax benefit of $74.3 million related to employee share-based awards[19] - The first quarter adjusted effective tax rate was (39.7%), significantly higher than (9.3%) in the prior year, influenced by share price appreciation upon vesting of employee awards[29] Strategic Initiatives - The company continues to focus on expanding its market presence and enhancing its service offerings through strategic initiatives[60]

Core Viewpoint - Evercore (EVR) is anticipated to report a year-over-year decline in earnings due to lower revenues, with a consensus estimate of $1.60 per share, reflecting a decrease of 24.9% compared to the previous year [1][3]. Earnings Expectations - The expected revenues for the upcoming quarter are $586.82 million, which is a slight decrease of 0.1% from the same quarter last year [3]. - The consensus EPS estimate has been revised down by 34.25% over the last 30 days, indicating a significant reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for Evercore is the same as the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [10][11]. - Evercore currently holds a Zacks Rank of 5, suggesting a weak outlook for beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Evercore exceeded the expected earnings of $2.90 per share by delivering $3.41, resulting in a positive surprise of 17.59% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [13]. Investment Considerations - While an earnings beat can influence stock movement, other factors may also play a significant role in determining stock performance [14]. - The combination of a negative Earnings ESP and a low Zacks Rank makes it challenging to predict a positive earnings surprise for Evercore [11][16].

Group 1 - Evercore Inc. is recognized as one of the leading investment banks in the U.S., particularly noted for its strong presence in mergers and acquisitions (M&A) [1] - The company operates primarily through its Strategic and Capital Advisory segments, which focus on corporate strategy and capital markets [1]

LITTLE ROCK, Ark., Feb. 28, 2025 /PRNewswire/ -- Montrose Environmental Group, Inc. (the "Company," "Montrose" or "MEG") (NYSE: MEG), a company on a mission to help protect the air we breathe, the water we drink, and the soil that feeds us, today announced that it will attend the Evercore 17th Annual Industrial Conference in New York, New York on Tuesday, March 4, 2025.About MontroseMontrose is a leading environmental solutions company focused on supporting commercial and government organizations as they de ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K _____________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR For the transition period from to . Commission File Number 001-32975 ____________________________________________________ EVERCORE INC. (Exact name of registrant as specified in its charter) ______________________ ...

Evercore Inc.’s (EVR) fourth-quarter 2024 adjusted earnings per share of $3.41 surpassed the Zacks Consensus Estimate of $2.90. Also, the bottom line compared favorably with the prior-year quarter’s $2.02. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results benefited from an increase in revenues generated from the Investment Management, and Investment Banking & Equities segments.  An improvement in assets under management (AUM) balance was another positive. However, the rise in ...

Financial Data and Key Metrics Changes - In 2024, Evercore Inc. achieved firm-wide adjusted net revenues of just over $3 billion, marking the second-best year ever for the company [8] - For Q4 2024, net revenues were $975 million, operating income was $213 million, and EPS on a GAAP basis was $3.30 [29] - Adjusted net revenues for Q4 2024 increased by 24% year-over-year, while full-year adjusted net revenues increased by 23% compared to 2023 [30] - Adjusted operating income for Q4 2024 rose by 76% year-over-year, and adjusted EPS increased by 69% [31][32] - The adjusted operating margin for Q4 was 22.2%, up 650 basis points from the previous year [32] Business Line Data and Key Metrics Changes - Adjusted advisory fees for Q4 2024 were $850 million, a 29% increase year-over-year, and full-year advisory fees reached $2.4 billion, up 24% compared to 2023 [33] - Underwriting fees for Q4 2024 were $26 million, up 38% from a year ago, with full-year underwriting revenues at $157 million, up 41% [34] - Asset management and administration fees for Q4 and full-year were $22 million and $85 million, respectively, both increasing by 16% year-over-year [35] Market Data and Key Metrics Changes - The European advisory business saw momentum build in Q4 2024, finishing the year with a strong backlog for 2025, although it still lags behind the U.S. market [16] - The underwriting business rebounded in 2024, particularly among follow-ons, with over 50% of underwriting revenue coming from sectors outside healthcare [21] Company Strategy and Development Direction - The company is focused on diversifying its revenue base, with over 40% of total revenues coming from non-M&A sources [10] - Evercore Inc. aims to continue improving expense margins and enhancing shareholder value over time [25] - The firm is committed to recruiting high-quality talent, having added nearly 60 new senior bankers over the past three years [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, citing improved market trends, increased CEO confidence, and a strong macroeconomic backdrop [11] - Despite some geopolitical uncertainties, the deal-making environment is expected to gradually improve throughout the year [12] - The company anticipates continued strong performance in its private capital advisory and private funds group, which achieved record years [19][94] Other Important Information - The adjusted compensation ratio improved by 190 basis points in 2024, reflecting the company's focus on expense management [28] - The company returned $591 million to shareholders through dividends and share repurchases in 2024 [42] Q&A Session Summary Question: Expectations for comp ratio improvement in 2025 - Management indicated striving for meaningful improvement in the comp ratio for 2025, although they do not provide specific guidance [49] Question: Recruiting expectations for the coming year - The company is actively working on recruiting and retaining talent, with a robust pipeline of candidates [55][57] Question: M&A activity and larger deals post-election - Management noted robust activity at the board level and a strengthening backlog, with optimism for large deals [66] Question: Acceleration in M&A activity - Management observed that while January had lower announcement volumes, overall activity levels remain robust and are expected to build throughout the year [74] Question: Outlook for restructuring business - The restructuring business had a strong year, and management expects activity levels to remain elevated due to increased liability management needs [110]

Core Insights - Evercore reported a revenue of $980.5 million for the quarter ended December 2024, marking a 25% increase year-over-year and a surprise of +12.81% over the Zacks Consensus Estimate of $869.15 million [1] - The earnings per share (EPS) for the quarter was $3.41, compared to $2.02 in the same quarter last year, resulting in an EPS surprise of +17.59% against the consensus estimate of $2.90 [1] Financial Performance Metrics - Net Revenues from Other Revenue were reported at $24.42 million, exceeding the average estimate of $22.50 million, but reflecting a -23.2% change year-over-year [4] - Adjusted Net Revenues from Investment Management, specifically Asset Management and Administration Fees, were $22.04 million, slightly below the average estimate of $22.22 million, showing a +16.3% year-over-year change [4] - Adjusted Net Revenues from Investment Banking & Equities totaled $958.20 million, significantly surpassing the average estimate of $823.93 million, with a year-over-year increase of +24.3% [4] Stock Performance - Over the past month, Evercore's shares have returned +2.9%, outperforming the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - Evercore (EVR) reported quarterly earnings of $3.41 per share, exceeding the Zacks Consensus Estimate of $2.90 per share, and showing a significant increase from $2.02 per share a year ago, representing an earnings surprise of 17.59% [1] - The company achieved revenues of $980.5 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 12.81% and up from $784.17 million year-over-year [2] - Evercore has outperformed consensus EPS estimates three times in the last four quarters and has also topped revenue estimates three times during the same period [2] Earnings Outlook - The sustainability of Evercore's stock price movement will largely depend on management's commentary during the earnings call and future earnings expectations [3] - The current consensus EPS estimate for the upcoming quarter is $3.70, with expected revenues of $808.09 million, and for the current fiscal year, the EPS estimate is $16.08 on revenues of $3.76 billion [7] Industry Context - The Financial - Investment Bank industry, to which Evercore belongs, is currently ranked in the top 1% of over 250 Zacks industries, indicating a favorable outlook for stocks within this sector [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Fourth Quarter Net Revenues were $975.3 million, a 24% increase year-over-year, and Full Year Net Revenues reached $3.0 billion, up 23% from 2023[1] - Fourth Quarter Operating Income was $212.6 million, an 81% increase year-over-year, with Operating Margins of 21.8%, up 679 basis points from 2023[1] - Net Income Attributable to Evercore Inc. for Q4 was $140.4 million, a 70% increase year-over-year, and Full Year Net Income was $378.3 million, up 48% from 2023[1] - Total revenues for the twelve months ended December 31, 2024, were $2,996.4 million, up from $2,442.7 million in 2023, representing a 22.7% increase[54] - Net income attributable to Evercore Inc. for the twelve months ended December 31, 2024, was $378.3 million, compared to $255.5 million in 2023, reflecting a 48.1% increase[54] - Basic net income per share attributable to Evercore Inc. common shareholders increased to $9.86 in 2024 from $6.71 in 2023[54] - Adjusted Net Revenues for Q4 2024 were $790.3 million, a 24% increase from Q4 2023, while full year adjusted net revenues reached $3.0 billion, up 23% year-over-year[25] - Adjusted Net Revenues for the twelve months ended December 31, 2024, were $3.0 billion, up 22.5% from $2.4 billion in 2023[59] - Adjusted Operating Income for Q4 2024 was $217.7 million, representing an increase of 75.8% compared to $123.9 million in Q4 2023[59] - Diluted Earnings Per Share (EPS) for Q4 2024 was $3.30, up 62.1% from $2.03 in Q4 2023[59] - Adjusted Diluted EPS for the twelve months ended December 31, 2024, was $9.42, a 46.5% increase from $6.46 in 2023[59] Advisory and Underwriting Fees - Advisory Fees for Q4 increased by $190.2 million, or 29%, year-over-year, while Full Year Advisory Fees rose by $476.7 million, or 24%[14] - Underwriting Fees for Q4 increased by $7.3 million, or 38%, year-over-year, with Full Year Underwriting Fees up by $46.1 million, or 41%[15] - Advisory fees in Q4 2024 increased by $190.0 million, or 29%, year-over-year, driven by large transactions[27] - Underwriting Fees for Q4 2024 rose by $7.3 million, or 38%, year-over-year, reflecting an increase in transaction participation[28] - Advisory fees increased to $849.556 million in Q4 2024, up 28.9% from $659.338 million in Q4 2023[67] Assets and Shareholder Returns - Total Assets Under Management as of December 31, 2024, were $13.9 billion, reflecting a 13% increase from $12.3 billion in 2023[13] - Evercore returned $590.6 million to shareholders in 2024 through dividends and share repurchases[1] - As of December 31, 2024, cash and cash equivalents were $873.0 million, with current assets exceeding current liabilities by $1.8 billion[36] - The Company declared a quarterly dividend of $0.80 per share to be paid on March 14, 2025[43] - In Q4 2024, the Company repurchased 14,000 shares at an average price of $297.41 and 0.1 million shares at an average price of $269.06, totaling 2.3 million shares repurchased throughout 2024 at an average price of $193.40[44] Employee Compensation and Costs - Employee Compensation and Benefits increased by $79.5 million, or 14%, year-over-year in Q4 2024, with a compensation ratio of 65.6% compared to 71.4% in Q4 2023[19] - Full year Employee Compensation and Benefits increased by $317.2 million, or 19%, year-over-year, with a full year compensation ratio of 66.3% versus 68.3% in the prior year[19] - Non-Compensation Costs rose by $16.8 million, or 16%, year-over-year in Q4 2024, primarily due to increased professional fees and occupancy expenses[20] - Full year adjusted Non-Compensation Costs increased by $64.3 million, or 16%, year-over-year, with a full year adjusted Non-Compensation ratio of 15.8% down from 16.8%[20] - Employee compensation and benefits for the full year 2024 totaled $1.974036 billion, up 19.1% from $1.656875 billion in 2023[67] Future Outlook - The company expects strong momentum to continue into 2025, with gradual market improvement anticipated throughout the year[3] - Future guidance indicates a projected revenue growth of 5-7% for the upcoming fiscal year, driven by increased advisory activity and market expansion[64] - The company plans to expand its market presence through strategic acquisitions and new product offerings in 2025[64] Segment Performance - Investment Banking & Equities segment net revenues for Q4 2024 reached $958.2 million, a 3.5% increase from Q4 2023's $770.7 million[64] - Total expenses for the Investment Banking & Equities segment in Q4 2024 were $745.9 million, compared to $653.9 million in Q4 2023, reflecting a 14.1% increase[64] - Operating income for the Investment Banking & Equities segment in Q4 2024 was $212.3 million, a 12.5% increase from $116.7 million in Q4 2023[64] - Investment Management segment net revenues for Q4 2024 were $22.3 million, up from $19.7 million in Q4 2023, indicating a 7.5% increase[64] - Operating income for the Investment Management segment in Q4 2024 was $5.4 million, compared to $7.1 million in Q4 2023, showing a decrease of 24.0%[64]