Q2 2026 Evercore Inc Earnings Call Transcript
Key Points
- Evercore Inc (EVR) reported record second-quarter revenues of $1 billion, marking a 19% increase from the previous year.
- The company achieved its best quarter ever for underwriting and wealth management, highlighting the strength of its diversified business model.
- Evercore Inc (EVR) saw robust performance across nearly all business sectors, particularly in North American strategic advisory, private funds group, and equities.
- The firm's backlog remains near record levels, indicating strong client engagement and potential for future revenue.
- Evercore Inc (EVR) continues to invest in talent, with 19 new senior managing directors added year-to-date, enhancing its global investment banking practice.
- Non-compensation expenses increased significantly, attributed to investments in growth and episodic costs, impacting operating leverage.
- The mid-cap and sponsor-related M&A markets remain below historical levels, posing challenges for growth in these segments.
- Despite strong revenues, Evercore Inc (EVR) faces tough comparisons in the second half of the year due to record quarters in the previous year.
- The company is experiencing higher growth rates in non-compensation expenses, partly due to investments in technology and AI, which may not yield immediate returns.
- There is uncertainty around the impact of potential rate hikes on the business, although current dialogues suggest limited immediate effects.
Good morning, and welcome to Evercore's second-quarter 2026 earnings conference call.
Today's call is scheduled to last about one hour, including remarks by Evercore management and the question-and-answer session.
To ask a question, please press the star key followed by the number 1 on your touch-tone phone at any time.
I will now turn the call over to Katy Haber, Head of Investor Relations at Evercore. Please go ahead.
Thank you, operator. Good morning, and thank you for joining us today for Evercore's second-quarter 2026 financial results conference call. I'm Katy Haber, Evercore's Head of Investor Relations. Joining me on the call today is John Weinberg, our Chairman and CEO and Tim LaLonde, our CFO. After our prepared remarks, we will open up the call for questions.
Earlier today, we issued a press release announcing Evercore's second-quarter 2026 financial results. Our discussion of our results today is complementary to the press release, which is
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