Evercore Partners (NYSE: EVR) reported Q4 EPS of $2.72, $0.37 better than the analyst estimate of $2.35. Revenue for the quarter came in at $668.5 million versus the consensus estimate of $576.15 million.

Ralph Schlosstein, President and Chief Executive Officer

"2019 will be recognized as a strategically significant year for Evercore. We added more senior talent to our team than at any time in our history, positioning the Firm strongly in key markets and providing the foundation for future growth. We served clients with distinction, leading the M&A league tables for independent firms by a wide margin, retaining our top ranking in equity research among independent firms and delivering strong investment returns in wealth management. Net revenues exceeded $2 billion for the second consecutive year. We grew underwriting revenue by 25% and we project that we sustained our #4 position in Advisory market share among all firms. As we enter 2020, dialogues with clients remain very active and our backlogs remain strong,\" said Ralph Schlosstein, President and Chief Executive Officer.

"Our significant investment in talent and delayed closings of transactions originally planned for 2019 curtailed compensation leverage, which we generally have realized in previous fourth quarters. This, and the elevated level of operating costs driven by our investments, resulted in Adjusted operating margins modestly below 25% for the first time in four years. We remain focused on continuing the strong growth trajectory that we have achieved over the past decade and have implemented a realignment strategy in early 2020 to position the Firm to best capitalize on future growth opportunities. We will continue to manage our non-compensation expenses aggressively as well, as it is our objective to achieve Adjusted operating margins of 25% or greater in markets like these."

John S. Weinberg, Executive Chairman

"Our clients are challenged by many forces, including technological disruption, shifting trade relationships and geopolitical tensions. We continue to work hard to apply our business model of broad sector and market coverage with highly valued and diverse capabilities to help our clients address these issues," said John S. Weinberg, Executive Chairman.

Roger C. Altman, Founder and Senior Chairman

"We are proud of the nine skilled professionals who were just promoted to Senior Managing Director. Overall, the Firm’s personnel have never been stronger. And, this augurs well for our future," said Roger C. Altman, Founder and Senior Chairman.

For earnings history and earnings-related data on Evercore Partners (EVR) click here.