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Evercore Q1 Earnings Beat Estimates, Revenues Hit Record Level
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Key Takeaways
EVR Q1 EPS of $7.53 beat estimates, with record revenues jumping y/y to $1.40B.
Evercore's growth was driven by strong advisory, underwriting and commissions revenue gains.
EVR expenses surged 81.8% due to Robey Warshaw acquisition-related costs and charges.
Evercore Inc. (EVR - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $7.53, surpassing the Zacks Consensus Estimate of $5.57. Also, the bottom line compared favorably with the prior-year quarter’s $3.49.
Results benefited from an increase in revenues generated from the Investment Banking & Equities and Investment Management segments. An increase in the assets under management (AUM) balance was another positive. However, the rise in expenses due to Robey Warshaw acquisition-related charges was an undermining factor.
The results include certain non-recurring items. After considering this, net income attributable to common shareholders (GAAP basis) was $301.2 million, up from $146.2 million in the year-ago quarter.
EVR’s Revenues & Expenses Rise
In the first quarter of 2026, the company reported record net revenues (adjusted) of $1.40 billion, beating the Zacks Consensus Estimate by 14.2%. The top line increased from $699.9 million in the year-ago quarter.
Total expenses increased 81.8% year over year to $1.06 billion. The rise partly reflected acquisition-related compensation charges, amortization of intangible assets, interest costs related to deferred acquisition consideration and acquisition and transition costs associated with the Robey Warshaw acquisition.
The adjusted compensation ratio was 64%, down from 65.7% in the prior-year quarter.
The adjusted operating margin was 25.3%, up from 16.6% in the prior-year quarter.
EVR’s Quarterly Segment Performance (GAAP Basis)
Investment Banking & Equities: Net revenues increased 102.9% year over year to $1.37 billion. This rise was primarily due to an increase in advisory fees, underwriting fees and commissions and related revenue. Also, operating income surged from $106.7 million in the year-ago quarter to $326.9 million.
Investment Management: Net revenues were $22.8 million, up 12.5% from the prior-year quarter. Operating income was $3.8 million, down 15% year over year. AUM was $15.1 billion as of March 31, 2026, up 10% year over year.
EVR’s Balance Sheet Position Strong
As of March 31, 2026, cash and cash equivalents were $986 million, and investment securities and certificates of deposit were $1 billion. Current assets exceeded current liabilities by $1.8 billion as of the same date. Amounts due related to the notes payable were $539.7 million as of March 31, 2026.
EVR’s Capital Distributions Activities
On April 28, 2026, the company declared a quarterly dividend of 89 cents per share, reflecting a 6% increase. The dividend will be paid out on June 12 to common stockholders of record as of May 29.
In the reported quarter, Evercore repurchased 1.9 million shares at an average price of $322.
Major Developments of EVR in Q1
In February 2026, Evercore completed the acquisition of Robey Warshaw, a leading UK-based independent advisory firm. This strategic move strengthens Evercore’s presence across EMEA, and broadens its sector and product coverage.
The Robey Warshaw acquisition accelerates Evercore’s growth strategy in the U.K. and wider EMEA region. The combination leverages Robey Warshaw’s strong client relationships and advisory track record to create opportunities for client engagement and revenue generation.
For Evercore, the deal is expected to be accretive to both adjusted and GAAP EPS in the first full year post-close. It strengthens the firm’s global advisory position, enhances cross-border capabilities, and supports long-term growth across strategic markets.
Our View on Evercore
EVR’s performance benefited from strong momentum in its advisory business, which drove record revenues. Higher AUM balance and solid segmental growth were other positives. Given the company’s strong liquidity position, capital distribution activities seem sustainable. However, elevated expenses, including costs associated with the Robey Warshaw acquisition, are likely to weigh on bottom-line growth in the near term.
The Goldman Sachs Group, Inc. (GS - Free Report) reported first-quarter 2026 earnings per share of $17.55, which topped the Zacks Consensus Estimate by 7.4%. The metric also rose 24.3% from $14.12 a year ago.
GS’s overall results have benefited from solid revenue growth in the Global Banking & Markets, and Asset & Wealth Management divisions. However, a rise in expenses and provision for credit losses were headwinds.
Morgan Stanley’s (MS - Free Report) first-quarter 2026 earnings were $3.43 per share, which outpaced the Zacks Consensus Estimate of $3.06. The bottom line jumped 32% from the prior-year quarter.
MS’s results benefited from robust client engagement and strength in investment banking and trading activities.
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Evercore Q1 Earnings Beat Estimates, Revenues Hit Record Level
Key Takeaways
Evercore Inc. (EVR - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $7.53, surpassing the Zacks Consensus Estimate of $5.57. Also, the bottom line compared favorably with the prior-year quarter’s $3.49.
Results benefited from an increase in revenues generated from the Investment Banking & Equities and Investment Management segments. An increase in the assets under management (AUM) balance was another positive. However, the rise in expenses due to Robey Warshaw acquisition-related charges was an undermining factor.
The results include certain non-recurring items. After considering this, net income attributable to common shareholders (GAAP basis) was $301.2 million, up from $146.2 million in the year-ago quarter.
EVR’s Revenues & Expenses Rise
In the first quarter of 2026, the company reported record net revenues (adjusted) of $1.40 billion, beating the Zacks Consensus Estimate by 14.2%. The top line increased from $699.9 million in the year-ago quarter.
Total expenses increased 81.8% year over year to $1.06 billion. The rise partly reflected acquisition-related compensation charges, amortization of intangible assets, interest costs related to deferred acquisition consideration and acquisition and transition costs associated with the Robey Warshaw acquisition.
The adjusted compensation ratio was 64%, down from 65.7% in the prior-year quarter.
The adjusted operating margin was 25.3%, up from 16.6% in the prior-year quarter.
EVR’s Quarterly Segment Performance (GAAP Basis)
Investment Banking & Equities: Net revenues increased 102.9% year over year to $1.37 billion. This rise was primarily due to an increase in advisory fees, underwriting fees and commissions and related revenue. Also, operating income surged from $106.7 million in the year-ago quarter to $326.9 million.
Investment Management: Net revenues were $22.8 million, up 12.5% from the prior-year quarter. Operating income was $3.8 million, down 15% year over year. AUM was $15.1 billion as of March 31, 2026, up 10% year over year.
EVR’s Balance Sheet Position Strong
As of March 31, 2026, cash and cash equivalents were $986 million, and investment securities and certificates of deposit were $1 billion. Current assets exceeded current liabilities by $1.8 billion as of the same date. Amounts due related to the notes payable were $539.7 million as of March 31, 2026.
EVR’s Capital Distributions Activities
On April 28, 2026, the company declared a quarterly dividend of 89 cents per share, reflecting a 6% increase. The dividend will be paid out on June 12 to common stockholders of record as of May 29.
In the reported quarter, Evercore repurchased 1.9 million shares at an average price of $322.
Major Developments of EVR in Q1
In February 2026, Evercore completed the acquisition of Robey Warshaw, a leading UK-based independent advisory firm. This strategic move strengthens Evercore’s presence across EMEA, and broadens its sector and product coverage.
The Robey Warshaw acquisition accelerates Evercore’s growth strategy in the U.K. and wider EMEA region. The combination leverages Robey Warshaw’s strong client relationships and advisory track record to create opportunities for client engagement and revenue generation.
For Evercore, the deal is expected to be accretive to both adjusted and GAAP EPS in the first full year post-close. It strengthens the firm’s global advisory position, enhances cross-border capabilities, and supports long-term growth across strategic markets.
Our View on Evercore
EVR’s performance benefited from strong momentum in its advisory business, which drove record revenues. Higher AUM balance and solid segmental growth were other positives. Given the company’s strong liquidity position, capital distribution activities seem sustainable. However, elevated expenses, including costs associated with the Robey Warshaw acquisition, are likely to weigh on bottom-line growth in the near term.
Evercore Inc Price, Consensus and EPS Surprise
Evercore Inc price-consensus-eps-surprise-chart | Evercore Inc Quote
Currently, Evercore carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Finance Stocks
The Goldman Sachs Group, Inc. (GS - Free Report) reported first-quarter 2026 earnings per share of $17.55, which topped the Zacks Consensus Estimate by 7.4%. The metric also rose 24.3% from $14.12 a year ago.
GS’s overall results have benefited from solid revenue growth in the Global Banking & Markets, and Asset & Wealth Management divisions. However, a rise in expenses and provision for credit losses were headwinds.
Morgan Stanley’s (MS - Free Report) first-quarter 2026 earnings were $3.43 per share, which outpaced the Zacks Consensus Estimate of $3.06. The bottom line jumped 32% from the prior-year quarter.
MS’s results benefited from robust client engagement and strength in investment banking and trading activities.