While the stock is already up 50% this year, it is still considered cheap based on its growth expectations. In this video, I will talk about Evercore (EVR -0.92%) and explain why this company is going to benefit from a lower interest rate environment. Check out the short video to learn more, consider subscribing, and click the special offer link below. *Stock prices used were from the trading day of Sept. 27, 2024. The video was published on Oct. 1, 2024. ...

Company Performance - Evercore has seen significant growth in M&A activity, driven by new managing directors and a steady stream of restructuring and liability management revenue [3] - Revenues for advisory in Q2 were up 52%, reflecting strength in M&A and other non-M&A businesses [5] - Underwriting revenues, connected with ECM and DCM activity, were better in the 6-month figures than in Q2 due to the short visibility of ECM business and dependence on immediate public market conditions [5] - Compensation expense ratios are around the same as last year despite headcount increases, indicating potential for improved net incomes if sponsor markets continue to accelerate [5] Industry Trends - Sponsor markets have seen a 15-20% increase in activity YTD, driven by investors in PE funds pushing for investment exits, redemptions, and new deployments [4] - The emergence of private credit and growth in global shadow banking have contributed to the availability of funding options, making credit spreads cheaper despite high risk-free benchmarks [4] - The rate environment or promise of lower rates on the yield curve has less to do with funds returning to the table, as PEs would ideally wait for a couple of rate cuts to happen [4] - The average holding periods of PE portfolios are approaching lengths more commonly seen in VC, around 7 years, indicating a need for portfolio rotation [4] Valuation and Investment Case - Evercore is cheaper than Moelis on a forward P/E basis despite similar leverage to sponsors and cheaper than Perella Weinberg when accounting for dilutive effects [3] - The return of sponsor markets is crucial for the investment case, with restructuring being solid and bankruptcy numbers expected to rise unless the economy improves significantly [6] - Evercore's valuation at a 23x forward PE is not a total steal but a good prospect, with a 5% forward earnings yield that should grow if sponsor markets deliver [6] - Further improvement in conditions is already priced in to some extent, meaning incomes need to accelerate for the company to hit its target [6]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _____________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-32975 _________________________________________________ ...

Evercore Inc.'s (EVR) second-quarter adjusted earnings per share of $1.81 surpassed the Zacks Consensus Estimate of $1.66. Also, the bottom line compared favorably with the prior-year quarter's reported figure of 96 cents. Shares of Evercore fell 3.2% following the release of its second-quarter results. Revenues & Expenses Rise On an adjusted basis, net revenues came in at $695.3 million, up 37.6% year over year. The adjusted compensation ratio was 66%, down from the prior-year quarter's 67%. Quarterly Segm ...

Financial Data and Key Metrics Changes - The company reported record second quarter adjusted net revenues of $695 million, a 38% increase year-over-year [68] - Adjusted advisory fees reached $568 million, up 52% year-over-year, reflecting a strengthening market environment [36][44] - Adjusted operating income increased by 80% to $114 million, with adjusted earnings per share rising 89% to $1.81 [68] Business Line Data and Key Metrics Changes - The Private Capital Advisory business experienced strong performance, driven by robust activity in the GP segment, with expectations for continued growth [39][55] - Underwriting fees were $31 million, down 19% year-over-year, but up nearly 42% for the first half of 2024 [44] - The Equities business had a solid quarter despite low volatility, providing clients with exceptional execution and differentiated corporate access [40] Market Data and Key Metrics Changes - The global M&A announced dollar volume increased by 24% year-over-year, indicating a gradual recovery in the M&A markets [36] - European advisory saw improvement compared to the first quarter, with expectations for a stronger second half of the year [27] - The company noted a 17% to 20% increase in sponsor activity year-to-date, reflecting a positive market tone [50] Company Strategy and Development Direction - The company is focused on expanding its industry coverage groups and geographic presence, particularly in Europe [65] - Investments in the Evercore ISI business include recruiting top-tier research analysts to enhance capabilities [26] - The strategy involves balancing strategic investments with improving expense margins over time [42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market outlook, anticipating a busy second half of the year supported by robust backlogs [25] - The company is monitoring economic and geopolitical risks that could impact recovery timing and trajectory [25] - There is a belief that the broader market recovery will progress throughout 2024 and into 2025 [72] Other Important Information - The adjusted compensation ratio for the second quarter was 66%, showing a slight improvement from 67% a year ago [45] - Non-compensation expenses increased by 18% year-over-year, reflecting higher client-related expenses and normalization of travel costs [46][70] - Cash and investment securities totaled nearly $1.7 billion, with $396 million returned to shareholders through dividends and share repurchases [47] Q&A Session Summary Question: What is the outlook for sponsor engagement around IPOs? - Management noted that sponsor activity is picking up, with significant bake-offs and a positive tone in the market, indicating a ramp-up in activity [50][51] Question: How does the European M&A pipeline compare to the US? - The US market is currently ahead of Europe in terms of activity, but both markets are showing positive trends [79] Question: What are the expectations for the compensation ratio moving forward? - The company aims to make meaningful improvements in the compensation ratio over the next few years, but it is premature to speculate on a return to sub-60% levels [94] Question: How are non-comp expenses expected to trend? - Non-comp expenses are expected to grow, influenced by travel normalization and inflationary pressures, but the company is exercising discipline in managing these costs [96][117]

Evercore (EVR) reported $695.27 million in revenue for the quarter ended June 2024, representing a year-overyear increase of 38.1%. EPS of $1.81 for the same period compares to $0.96 a year ago. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. View all Key Company Metrics for Evercore here>>> While investors scrutinize revenue and ear ...

This quarterly report represents an earnings surprise of 9.04%. A quarter ago, it was expected that this investment bank would post earnings of $2.20 per share when it actually produced earnings of $2.13, delivering a surprise of -3.18%. Evercore, which belongs to the Zacks Financial - Investment Bank industry, posted revenues of $695.27 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 12.08%. This compares to yearago revenues of $503.6 million. The company has topped cons ...

Exhibit 99.1 | | | g | Second Quarter Net Revenues were $689.2 million and $695.3 million on a U.S. GAAP and an Adjusted | | --- | --- | --- | --- | | | | | basis, respectively, representing a record second quarter by both measures | | | | g | Second Quarter Operating Income of $108.2 million and $114.3 million on a U.S. GAAP and an Adjusted | | | | | basis, respectively, increased 88% and 80%, respectively versus 2023; Second Quarter Operating Margins of 15.7% and 16.4% on a U.S. GAAP basis and an Adjusted ...

The market expects Evercore (EVR) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on J ...

TORONTO, June 10, 2024 /PRNewswire/ - Restaurant Brands International Inc. (TSX: QSR) (NYSE: QSR) (TSX: QSP) ("RBI") announced today that Chief Executive Officer, Josh Kobza, and Executive Chairman, Patrick Doyle, will participate in a fireside chat at the Evercore ISI Consumer and Retail Conference on June 13, 2024 at 9:30am Eastern Time. About Restaurant Brands International Inc. Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with over $40 billion in ...