Evercore Partners Earnings: Here’s Why the Stock is Down Now

Evercore Partners Inc. (NYSE:EVR) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.19%.

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Evercore Partners Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 270% to $0.37 in the quarter versus EPS of $0.10 in the year-earlier quarter.

Revenue: Rose 43.86% to $153.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Evercore Partners Inc. reported adjusted EPS income of $0.37 per share. By that measure, the company missed the mean analyst estimate of $0.47. It missed the average revenue estimate of $167.2 million.

Quoting Management: “We are very pleased with the sustained momentum of our business. Our first quarter was the best first quarter in our history and our fourth best quarter ever in terms of revenue. Our Advisory business continues to perform well, as clients and Boards continue to embrace our independent advisory model. Our work with international investment banking clients has continued to grow, generating $58 million of revenues in the quarter, substantially higher than one year ago. Institutional Equities more than doubled in revenues versus the prior year and reported an operating profit for the quarter. And our Investment Management business returned to growth as operating profits and assets under management increased,” said Ralph Schlosstein, President and Chief Executive Officer. “In short, we continue to execute our strategy, gaining market share in each of our core businesses, controlling costs and delivering solid returns to our shareholders. For the quarter, we returned $38 million to our shareholders, including repurchasing 784 thousand shares of stock.”

Key Stats (on next page)…

Revenue decreased 30.11% from $219.35 million in the previous quarter. EPS decreased 54.32% from $0.81 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.53 to a profit $0.55. For the current year, the average estimate has moved up from a profit of $2.03 to a profit of $2.2 over the last ninety days.

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