UPDATE: Evercore Partners (EVR) Tops Q3 EPS by 26c, Revenues Beat
Evercore Partners (NYSE: EVR) reported Q3 EPS of $1.23, $0.26 better than the analyst estimate of $0.97. Revenue for the quarter came in at $376.03 million versus the consensus estimate of $329.21 million.
Ralph Schlosstein, President and Chief Executive Officer "Despite a reduced number of closings in our Advisory business this quarter, the momentum in our business remains very strong, as we work closely with clients to complete Advisory assignments in 2018 and to announce transactions that will complete next year. Growth in Equity Capital Markets activity is high and our capabilities here are becoming more widely recognized. Our Equities team continues to deliver high quality research while working with clients to receive appropriate compensation for our services, earning revenues that were equal to those in the third quarter of 2017. And our Wealth Management team continues to deliver steady growth," said Ralph Schlosstein, President and Chief Executive Officer. "We are pleased with our results year to date and are working hard to finish the year strongly. These strong results year to date have enabled us to return more than $251 million to our shareholders."
John S. Weinberg, Executive Chairman "We are pleased to once again be recognized by our clients through the recent Institutional Investor All-America Research survey as a top-tier quality research provider," said John S. Weinberg, Executive Chairman. \"We remain in active dialogues with additional talent for all of our businesses as we look ahead to the 2019 recruiting class.\"
Mr. Weinberg also noted, "We are pleased to welcome Ken Wilson to our Board. He is an established leader in finance, government and philanthropy, and his expertise will further enhance our Board\'s capabilities."
Roger C. Altman, Founder and Senior Chairman "The tone and breadth of client dialogue and activity remains healthy. The M&A and capital markets environment continues to be favorable and our backlog is strong," said Roger C. Altman, Founder and Senior Chairman.
For earnings history and earnings-related data on Evercore Partners (EVR) click here.