Exhibit 99.1

E V E R C O R E
EVERCORE REPORTS FIRST QUARTER 2020 RESULTS;
QUARTERLY DIVIDEND OF $0.58 PER SHARE
 
First Quarter 2020 Results
 
U.S. GAAP
 
Adjusted
 
 
vs.
Q1 2019
 
 
vs.
Q1 2019
Net Revenues ($ millions)
$
427.0

3%
 
$
435.0

4%
Operating Income ($ millions)
$
49.3

(41%)
 
$
82.5

(14%)
Net Income Attributable to Evercore Inc.
($ millions)
$
31.2

(54%)
 
$
57.8

(29%)
Diluted Earnings Per Share
$
0.74

(51%)
 
$
1.21

(27%)
Operating Margin
11.5
%
(863) bps
 
19.0
%
(381) bps
 
 
 
 
Business and Financial
 Highlights

g
Net Revenues on both a U.S. GAAP and an Adjusted basis increased versus the prior year period

g
Sustained #1 league table ranking among independents and #4 position in the U.S. and #6 position globally among all firms over the last twelve months

g
Advised on two of the four largest global M&A transactions and four of the seven largest U.S. M&A transactions in the first quarter

g
Evercore ISI research and trading groups generated high levels of engagement with clients, driving a 32% increase in commission revenues versus the prior year period

g
Executed previously announced realignment strategy for 2020

g
Implementing cost reduction initiatives and downsizing or deferring capital investments
 
 
 
 
 
 
 
 
Responding to COVID-19 and the Market Downturn

g
COVID-19 has had a substantial negative effect on the global markets - creating extreme uncertainty, market volatility and dislocation in certain debt and equity markets. The M&A market is largely on hold and, in some cases, deals have been terminated, as principals are sidelined until signs of stability in the economy and the markets become evident

g
Evercore is focused on four priorities in the current market environment:
 

g
Ensuring the health and safety of our workforce and their families
 

g
Pivoting our Advisory and Research businesses to meet the changing needs of our clients
 

g
Sustaining the operations of the Firm with nearly all of our people working from home
 

g
Maintaining our strong and liquid balance sheet
 
 
 
 
 
 
 
Talent

g
Joe Todd joined the Advisory business as a Senior Managing Director in January, enhancing our advisory capabilities on complex and large cap corporate realignments

g
One additional Senior Managing Director has committed to join in 2020
 
 
 
 
 
 
 
Capital Return

g
Quarterly dividend of $0.58 per share

g
Returned $178.1 million to shareholders during the quarter through dividends and repurchases of 1.8 million shares at an average price of $76.57
 
 
 
 


The following information was filed by Evercore Inc. (EVR) on Wednesday, April 22, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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