NYSE$EVR

Evercore Inc. · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Evercore reported strong Q3 2021 results driven by record revenues and strategic growth initiatives.

Evercore announced record third-quarter revenues, driven by robust M&A activity and successful strategic growth initiatives. The firm ranked #1 globally and in the U.S. among independents in M&A league tables. The company returned $135.2 million to shareholders through buybacks and dividends in the third quarter.

  • Record 3Q revenues on a U.S. GAAP and an Adjusted basis; fourth straight quarter of Advisory revenues greater than $500 million.
  • Ranked #1 in announced M&A volume both globally and in the U.S. among independents.
  • Advising on three of the top 10 largest announced U.S. M&A transactions of 2021.
  • Evercore ISI recognized as the top independent research firm in the Institutional Investor All-America Equity Research team rankings for the eighth straight year.

Headline financials

Total Revenue

$828M

Previous: $408M+103.2%
EPS (adj)

$3.96

Previous: $1.11+256.8%
Assets Under Management

$11.3B

Previous: $10.9B+3.5%
Advisory Client Transactions

257

No prior period
Advisory Client Transactions >= $1M

130

No prior period
Underwriting Transactions

28

Previous: 30-6.7%
Underwriting Transactions as Bookrunner

26

Previous: 23+13.0%
Free Cash Flow

$160M

Previous: $42.6M+274.4%
Net Income

$160M

Previous: $42.6M+274.4%
Operating Income

$250M

Previous: $62.8M+297.4%
Gross Profit

$828M

Previous: $402M+106.1%
Cash & Equivalents

$479M

Previous: $1.15B-58.3%
Total Assets

$3.27B

Previous: $2.65B+23.7%
Stock-Based Comp

$107M

Previous: $94.2M+13.6%

Revenue & EPS history

Evercore · Revenue · Quarterly

$828M

Q3 2021+103.2%vs Q3 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Evercore · $826M total across 4 segments · Q3 2021

  • Advisory Fees
    $708M+161.7%
  • Underwriting Fees
    $54.4M-18.2%
  • Commissions and Related Revenue
    $46.8M+6.6%
  • Asset Management and Administration Fees
    $17M+20.9%

Forward guidance

Our pipeline continues to be strong and we remain focused on addressing our clients’ objectives, growing our firm and returning capital to shareholders.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+0.3%

Avg return

Earnings day

+0.0%

Avg return

5 days after

+1.3%

Avg return

30 days after

57%

37 / 65 earnings

Positive

+8.5%

Q3 2013

Best reaction

-14.2%

Q4 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.0%-6.3%+0.2%
Q4 2025+5.2%+6.2%-14.7%
Q3 2025-9.4%-6.7%-0.5%
Q1 2025+3.2%+6.5%+16.3%
Q4 2024+0.8%-3.8%-26.9%
Q3 2024-4.7%-5.2%+13.0%
Q2 2024+0.6%+0.4%+0.4%
Q1 2024-6.3%-5.7%+4.2%
Q4 2023-0.7%-0.8%+5.7%
Q3 2023-2.7%-1.2%+12.1%
Q2 2023-4.8%-4.0%-4.6%
Q1 2023-7.0%-6.8%-8.3%
Q4 2022+2.2%+3.2%+2.0%
Q3 2022+6.0%+10.3%+19.2%
Q2 2022+4.6%+5.1%+2.2%
Q1 2022+3.2%+2.7%+7.3%
Q4 2021+1.2%+2.4%-6.2%
Q3 2021-5.3%-4.1%-11.0%
Q2 2021+0.3%-2.0%+4.6%
Q1 2021+0.3%-1.0%+2.8%
Q4 2020+0.8%+2.4%+7.5%
Q3 2020+6.9%+5.9%+13.6%
Q2 2020-2.9%-4.7%+4.2%
Q1 2020-3.3%-0.9%+2.6%
Q4 2019+8.0%+3.9%-9.3%
Q3 2019-5.9%-3.5%-0.5%
Q2 2019+1.6%+0.0%-12.3%
Q1 2019+1.0%+2.2%-14.4%
Q4 2018+7.0%+7.2%+11.9%
Q3 2018-2.2%-5.4%-5.2%
Q2 2018-0.6%-2.1%-4.2%
Q1 2018+8.0%+9.5%+18.6%
Q4 2017+5.5%-2.5%-4.8%
Q3 2017+2.3%+3.2%+10.1%
Q2 2017-1.5%+0.4%-4.5%
Q1 2017-6.7%-5.6%-10.0%
Q4 2016+0.3%+4.8%+4.8%
Q3 2016-2.0%-1.2%+23.5%
Q2 2016+0.2%-1.0%+1.6%
Q1 2016-2.6%
Q4 2015+7.5%
Q3 2015+5.5%
Q2 2015+1.4%
Q1 2015+1.3%
Q4 2014+1.7%
Q3 2014+0.9%
Q2 2014+3.4%
Q1 2014+1.6%
Q4 2013-2.4%
Q3 2013+8.5%
Q2 2013+3.5%
Q1 2013+2.4%
Q4 2012+7.6%
Q3 2012-0.4%
Q2 2012+5.3%
Q1 2011-0.3%
Q1 2012+0.6%
Q1 2010-1.9%
Q4 2011-1.9%
Q4 2009-1.9%
Q2 2011-1.4%
Q3 2010-4.5%
Q3 2011-4.5%
Q4 2010-14.2%
Q2 2010+5.4%

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