Evercore Shatters Records with $1.4B Quarter Amid M&A Boom

NEW YORK, NY – April 29, 2026 – Evercore Inc. (NYSE: EVR) today announced a stunning start to 2026, posting record-breaking first-quarter financial results that significantly outpaced Wall Street expectations and sent a strong signal of a revitalized mergers and acquisitions market. The premier independent investment bank reported net revenues of $1.4 billion, a staggering 100% increase compared to the same period last year, driven by a surge in high-value advisory work.

The performance translated into a massive jump in profitability. Adjusted diluted earnings per share (EPS) soared to $7.53, crushing analyst consensus estimates of $5.18 by over 45%. The firm's leadership underscored the achievement, which reflects a confluence of strategic investments and a favorable, if complex, market environment.

"Our record first quarter results reflect strong momentum coming into the year and the benefits of our long-term investment strategy," said John S. Weinberg, Chairman and Chief Executive Officer, in a statement accompanying the results. "Our focus remains on serving our clients and building on the strength of our franchise."

Reflecting its confidence and robust financial health, Evercore also announced a 6% increase in its quarterly dividend to $0.89 per share, marking its 18th consecutive year of dividend growth and reinforcing its commitment to shareholder returns.

Riding the M&A Superwave

Evercore's phenomenal quarter is a powerful reflection of a broader resurgence in global M&A activity. After a period of relative quiet, the first quarter of 2026 saw deal-making roar back to life, with global M&A volumes climbing nearly 10% year-over-year to over $860 billion. This market recovery, however, has been characterized by a "K-shaped" dynamic: a surge in large, transformational megadeals, while smaller transactions remain more subdued. This is a landscape where Evercore's expertise in complex, strategic advisory shines.

The firm was at the center of some of the quarter's most significant transactions, showcasing its dominance in high-stakes negotiations. It advised Warner Brothers Discovery on its monumental $110 billion sale to Paramount Skydance and guided Devon Energy through its $58 billion merger with Coterra Energy. These deals, among others, propelled Evercore's advisory fees to $1.24 billion for the quarter, a 123% increase from the prior year.

"We delivered an exceptional first quarter, with record revenues of $1.4 billion, underscoring the relentless build-out of the Evercore platform," commented Roger C. Altman, Founder and Senior Chairman. The results show the firm is not just participating in the market upswing but is actively capturing a leading share of it.

Outperforming the Pack

While the rising tide of M&A activity is lifting many boats, Evercore's performance stands out dramatically from its peers. The firm's 100% year-over-year revenue growth far outpaces that of competitors like Moelis & Company, which reported a modest 4% increase, and PJT Partners, which saw a still-impressive but comparatively smaller 29% rise in revenues for the quarter.

This outperformance has catapulted Evercore into the top tier of global advisors. According to industry data, the firm now ranks third globally by advisory fees, trailing only the bulge-bracket giants Goldman Sachs and JPMorgan Chase. Its adjusted operating margin expanded to an impressive 25.3%, well above the five-year peer average of 18.6%, demonstrating remarkable efficiency and profitability even as it grows.

The firm's success was broad-based, with record first-quarter revenues not only in its powerhouse North American and EMEA advisory businesses but also across its Private Capital Advisory, Private Funds Group, Equities, and Wealth Management divisions. This diversification provides a stable foundation and multiple avenues for growth, insulating the firm from volatility in any single market segment.

The Talent Engine Fueling Growth

Underpinning Evercore's financial success is a deliberate and aggressive human capital strategy. The firm has consistently invested in attracting and retaining top-tier talent, understanding that in the advisory business, expertise is the ultimate asset. As of March 31, 2026, Evercore's roster of Investment Banking Senior Managing Directors (SMDs) grew to 182, a key factor in its ability to source and execute a high volume of complex mandates.

Recent strategic hires highlight this focus. In the past several months, the firm has onboarded senior bankers in critical, high-growth sectors, including Ben Carpenter and Bennett Blau in Healthcare, David Ke in Equity Capital Markets with a focus on biotechnology, and Chris Macios in the Financial Sponsors Group. This infusion of specialized expertise directly correlates with the firm's ability to win business in the most active and lucrative market segments.

The firm also announced that three additional SMDs have committed to join later this year in its Industrials, Healthcare, and Private Capital Advisory groups. This continuous talent acquisition, coupled with a class of eight internally promoted Investment Banking SMDs to start the year, ensures Evercore's advisory teams have the depth and breadth required to navigate an increasingly intricate global financial landscape.

A Windfall for Shareholders

Evercore's record-breaking quarter is translating directly into significant value for its shareholders. The firm executed a record capital distribution, returning an massive $673.3 million to shareholders in the first quarter alone. This was accomplished through its increased dividend and the repurchase of 1.9 million shares.

This robust capital return program is built on a fortress-like balance sheet. As of the end of the quarter, Evercore held nearly $2 billion in cash and investment securities, providing substantial liquidity and financial flexibility. This strength allows the firm to simultaneously invest in its growth by hiring top talent and reward its investors with consistent, growing returns.

The long-term results of this balanced approach are striking. Over the past decade, Evercore has delivered a total shareholder return of 614%, vastly outpacing the S&P 500 and its financial sector peers. The latest dividend increase and share buybacks are a continuation of a proven strategy that prioritizes both strategic expansion and shareholder value, solidifying its reputation as a top performer not just on deal tables, but also on the stock market.