Highlights

  • Second quarter net revenues rose 19% to $990.2 million, led by a 201% jump in underwriting fees to $97.1 million.
  • Net income attributable to Evercore slipped 2% to $95.3 million, and diluted earnings per share edged down to $2.32.
  • The firm booked a $21.3 million special charge for estimated non-U.S. employment taxes relating to prior periods.
  • Evercore repurchased 1.33 million Class A shares for $412.6 million in six months and declared a $0.89 quarterly dividend.

Evercore (NYSE:EVR) shares were trading near their 52-week low at USD 253.88 on October 21, 2026, up 0.71%. The investment banking and investment management firm closed its Robey Warshaw acquisition on October 1, 2025, and filed its quarterly report for the period ended June 30, 2026 on August 5, showing higher revenue, slightly lower quarterly profit and a new tax-related charge.

Evercore is a holding company incorporated in Delaware and headquartered at 55 East 52nd Street in New York. It employed about 2,715 people at June 30, 2026, up from about 2,455 a year earlier. The Investment Banking & Equities segment advises on mergers, acquisitions, divestitures, restructurings and capital raising, underwrites offerings and runs equity research and agency trading. The Investment Management segment covers wealth management and private equity fund interests, including a stake in Atalanta Sosnoff Capital.

Advisory and Underwriting Lift Revenue, Expenses Rise Faster

Net revenues for the three months ended June 30, 2026 reached $990.2 million, compared with $833.8 million a year earlier. Advisory fees rose 11% to $775.6 million, commissions and related revenue gained 9% to $63.5 million, and asset management and administration fees climbed 14% to $23.7 million. Underwriting fees more than tripled to $97.1 million.

Costs grew faster than the top line. Employee compensation and benefits rose 17% to $641.8 million, equal to 64.8% of net revenues, and included $7.1 million tied to awards granted in the Robey Warshaw deal. Non-compensation expenses jumped 34% to $180.5 million, on higher travel, professional fees and a larger provision for credit losses. Income before taxes slipped 2% to $147.6 million.

The quarter also carried $21.3 million of special charges. Evercore said a recent decision by a non-U.S. court found that certain partnership members count as employees for some employment taxes. The company was not a party to those proceedings but concluded it was appropriate to record an estimated loss provision for prior periods. Net income attributable to Evercore was $95.3 million, down from $97.2 million, and diluted EPS was $2.32 versus $2.36.

For the six months, net revenues rose 56% to $2.38 billion, advisory fees grew 61% to $2.02 billion, and net income attributable to Evercore rose 63% to $396.5 million, or $9.56 per diluted share.

Buybacks, Dividends and Balance Sheet

Evercore repurchased 1,326,577 Class A shares at an average of $311.03, or $412.6 million, under its repurchase program during the six months. It also bought 933,835 shares from employees, mainly for tax withholding, for $321.1 million. A board authorization from April 2025 allows repurchases of up to the lesser of $1.6 billion or 8.0 million shares, and the program has no expiration date.

On July 28, 2026 the board declared a quarterly dividend of $0.89 per Class A share, payable September 11 to holders of record on August 28.

Cash and cash equivalents were $1.26 billion at June 30, compared with $1.43 billion at year-end. Operating activities provided $299.7 million over the six months, against an outflow of $111.9 million a year earlier, while financing activities used $890.1 million. Notes payable totaled $540.0 million after the company repaid $48.0 million of Series C senior notes at maturity. Two unsecured credit facilities, of $225 million and $75 million, had no drawings.

Outlook Language and Transaction Timing

Evercore's quarterly report does not provide numerical guidance. Management states that its liquidity depends heavily on closing client transactions and earning success fees, the timing of which is irregular and outside its control. It adds that geopolitical and macroeconomic uncertainty has led to market volatility and may affect the transaction environment and the timing of closings in the near to medium term.