Evercore Partners Earnings: Here’s Why Investors are Buying Shares Now

Evercore Partners Inc. (NYSE:EVR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.42%.

Evercore Partners Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 32.65% to $0.65 in the quarter versus EPS of $0.49 in the year-earlier quarter.

Revenue: Rose 17.57% to $207 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Evercore Partners Inc. reported adjusted EPS income of $0.65 per share. By that measure, the company beat the mean analyst estimate of $0.54. It beat the average revenue estimate of $181.81 million.

Quoting Management: Evercore delivered strong Investment Banking results in this quarter. Our revenues of $180 million represent the second best quarterly results in our history, earning fees of $1 million or more from 38 clients and completing 18 underwriting transactions. We are consistently adding new talent to the firm, and did so again this quarter. We launched a Private Capital Advisory business, to be led by Nigel Dawn, and announced the addition of Scott Kamran to our Technology team and Keith Magnus, who will join us to open an office in Singapore, serving clients in Singapore and Southern Asia. Finally, overall, we expect Evercores investment banking market share to increase again, said Roger Altman, Executive Chairman.

Key Stats (on next page)…

Revenue increased 33.14% from $155.47 million in the previous quarter. EPS increased 75.68% from $0.37 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.53 to a profit $0.49. For the current year, the average estimate has moved down from a profit of $2.07 to a profit of $2.03 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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