Free Post Earnings Research Report: Evercore Delivered Record Quarterly Revenue and Earnings on an Adjusted Basis

Stock Monitor: AllianceBernstein Holding Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 20, 2018 / Active-Investors.com has just released a free earnings report on Evercore Inc. (EVR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EVR. Evercore reported its fourth quarter and fiscal 2017 operating and financial results on January 31, 2018. The investment bank outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Evercore most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the three months ended December 31, 2017, Evercore's net revenues of $540.0 million increased 21% versus Q4 2016 revenue of $445.37 million, driven by an increase in Investment Banking revenues, primarily due to an increase in Advisory fees. During Q4 2017, Evercore's adjusted net revenues grew 5% on a y-o-y basis to $465.5 million. The Company's reported numbers were better than analysts' estimates by $58.28 million.

For the twelve months ended December 31, 2017, (FY 2017), Evercore's net revenues advanced 18% to $1.70 compared to $1.44 billion in FY16, driven by an increase in Investment Banking revenues. For FY17, Evercore's adjusted net revenues totaled $1.63 billion, up 14% on a y-o-y basis.

During Q4 2017, Evercore's compensation ratio was 50.6% versus 60.1% for Q4 2016, driven by higher revenues in the Company's Investment Banking business and the adjustment of amounts due pursuant to its tax receivable agreement as well as lower costs associated with acquisition-related LP Units/Interests during 2017. For the reported quarter, the Company's adjusted compensation ratio was 57.3% versus 57.2% for the year earlier same quarter.

For Q4 2017, Evercore's operating income of $184.1 million soared 89% versus Q4 2016 operating income of $97.36 million, driven by an increase in net revenues, partially offset by increased compensation and non-compensation costs in the Investment Banking business. The Company's adjusted operating income of $134.2 million increased 6% on a y-o-y basis.

During Q4 2017, Evercore's effective tax rate was 100.7% versus 40.0% in Q4 2016. For FY17, the Company's effective tax rate was 59.1% versus 44.5% for the year ago comparable period.

Evercore reported Q4 2017 net loss attributable to the Company of $19.41 million, or $0.50 per diluted share, compared to net income attributable to Evercore of $43.43 million, or $0.98 per diluted share, in Q4 2016, with the decline principally driven by an increase in the effective tax rate. For the reported quarter, the Company's adjusted net income grew 8% to $1.55 per share on a y-o-y basis for the reported quarter and came in ahead of Wall Street's estimates of $1.32 per share.

For FY17, net income attributable to Evercore was $125.5 million, or $2.80 per share, compared to net income of $107.53 million, or $2.43 per share, in FY6, principally driven by an increase in net revenues in the Investment Banking business, partially offset by an increase in the effective tax rate. For FY17, Evercore's adjusted net income attributable to the Company surged 26% to $5.45 per share.

Segment Results

Investment Banking - During Q4 2017, Evercore's advisory fees advanced 9% to $384.57 million on a y-o-y basis, driven primarily by the composition of fees in excess of $1 million, taking into account the size and type of transaction and the nature of services provided. The Company's commissions and related fees fell 10% to $56.64 million for the reported quarter. Evercore's underwriting fees of $15.7 million surged 33% on a y-o-y basis for Q4 2017, as the Company participated in 18 underwriting transactions versus 14 in Q4 2016 and 13 as a bookrunner as against 9 in Q4 2016.

Investment Management - Evercore's management fees and related income of $12.1 million for Q4 2017 increased 11% on a y-o-y basis, primarily attributed to higher fees in Wealth Management. The Company's private equity investments of $0.07 million for the reported quarter decreased relative to $1.53 million during the year ago same period, principally driven by lower realized and unrealized gains in Private Equity.

Balance Sheet

As of December 31, 2017, Evercore had cash, cash equivalents, marketable securities, and certificates of deposit of $738.1 million. The Company's current assets exceeded current liabilities by $536.2 million at December 31, 2017.

During Q4 2017, Evercore repurchased approximately 27,000 shares at an average price per share of $80.16. During FY17, the Company repurchased a total of 3.9 million shares/units at an average price per share/unit of $75.02.

Stock Performance Snapshot

February 16, 2018 - At Friday's closing bell, Evercore's stock was marginally down 0.16%, ending the trading session at $96.60.

Volume traded for the day: 386.41 thousand shares.

Stock performance in the last month – up 2.17%; previous three-month period – up 16.60%; past twelve-month period – up 20.52%; and year-to-date – up 7.33%

After last Friday's close, Evercore's market cap was at $4.15 billion.

Price to Earnings (P/E) ratio was at 35.65.

The stock has a dividend yield of 1.66%.

The stock is part of the Financial sector, categorized under the Asset Management industry. This sector was up 0.1% at the end of the session.

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