Evercore Inc. has recently released its 10-K report, providing a detailed insight into its financial performance and operations. Evercore operates as an independent investment banking advisory firm in the United States, Europe, Latin America, and internationally, through its two segments: Investment Banking & Equities, and Investment Management. The Investment Banking & Equities segment offers strategic advisory services, private capital advisory and fundraising, market risk management, and equity capital markets execution. The Investment Management segment provides wealth management services to high-net-worth individuals and manages financial assets for institutional investors.
In the 10-K report, Evercore Inc. discusses key financial measures such as revenue and expenses. The company's total revenues reflect revenues from its Investment Banking & Equities and Investment Management business segments, including fees for services, transaction-related client reimbursements, and other revenue. The report details that the majority of revenue in the Investment Banking & Equities segment consists of advisory fees, underwriting fees, commissions, and fees from research and sales and trading activities. The revenue trends in the advisory business are correlated with the volume of M&A activity, restructuring activity, and capital advisory activity.
Furthermore, the report outlines the revenue sources in the Investment Management segment, primarily including management fees, fiduciary fees, and gains (or losses) on investments. Additionally, it covers transaction-related client reimbursements, other revenue, and interest expenses, providing a comprehensive breakdown of the company's financial components.
The report also delves into the company's expenses, particularly employee compensation and benefits, non-compensation expenses, and special charges, including business realignment costs. It details the various components of employee compensation, including base salary, cash, deferred cash, and equity bonus awards, as well as the impact of newly-hired senior professionals on compensation. The report also discusses the Long-term Incentive Plans and the issuance of Class L Interests to certain named executive officers.
Moreover, the 10-K report includes a discussion on income from equity method investments, provision for income taxes, and noncontrolling interest, providing a comprehensive overview of Evercore's financial condition and results of operations. The report's detailed breakdown of financial measures and operations offers investors and stakeholders valuable insights into Evercore's performance and strategic direction. Following these announcements, the company's shares moved -2.7%, and are now trading at a price of $250.13. Check out the company's full 10-K submission here.
