Evercore Inc. (NYSE:EVR) reported record first-quarter results on Wednesday, with earnings and revenue significantly exceeding analyst expectations.
Adjusted earnings per share came in at $7.53, well above the consensus estimate of $5.18, representing a $2.35 beat.
Shares rose 4.07% in premarket trading following the release, reflecting a positive market response.
Revenue reached $1.4 billion, surpassing forecasts of $1.16 billion and doubling compared with the same period last year. Adjusted revenue also stood at $1.4 billion, up from $699.9 million in the first quarter of 2025.
Advisory fees surged 123% year over year to $1.24 billion, driven by higher activity in large transactions and an increased number of deals generating fees during the quarter.
The firm advised on several major transactions, including Warner Bros Discovery’s $110 billion sale to Paramount Skydance and Devon Energy’s $58 billion merger with Coterra Energy.
Adjusted operating margin improved to 25.3%, up from 16.6% a year earlier, while the adjusted compensation ratio declined to 64.0% from 65.7%.
“Our record first quarter results reflect strong momentum coming into the year and the benefits of our long-term investment strategy,” said John S. Weinberg.
Adjusted net income attributable to Evercore rose to $334.7 million, compared with $154.8 million in the same period last year. The effective tax rate of 3.0% included a $94.0 million benefit tied to share-based compensation.
Evercore increased its quarterly dividend by 6% to $0.89 per share and returned $673.3 million to shareholders during the quarter through dividends and share repurchases.
The firm’s investment banking division now includes 182 Senior Managing Directors.