Key Highlights

● Net revenues were $990.2 million on a GAAP basis, up 19%.

● GAAP diluted earnings per share were $2.32, against $2.36 a year ago.

● Adjusted diluted earnings per share rose to $2.91 from $2.42.

● The quarterly dividend is $0.89 per share, payable on 11 September 2026.

Evercore (NYSE:EVR) reported second-quarter 2026 results for the quarter ended 30 June 2026, with revenue growth that was not matched on a GAAP earnings basis. Net revenues were $990.2 million, up 19% from $833.8 million. On an adjusted basis they were $999.5 million, also up 19%.

Revenue Mix

Advisory fees were $775.6 million, up 11% from $697.7 million. Because advisory is the core of the firm, that growth is the main read on dealmaking demand. Total revenue grew faster than advisory fees, which shows other businesses contributed to the quarter as well. Chairman and CEO John S. Weinberg cited broad-based strength across nearly every business.

Earnings and Margins

Net income attributable to Evercore was $95.3 million on a GAAP basis, compared with $97.2 million a year earlier, and GAAP diluted earnings per share were $2.32 against $2.36. Adjusted figures were stronger, with net income of $127.1 million against $105.4 million and diluted earnings per share of $2.91 against $2.42.

The GAAP compensation ratio improved to 64.8% from 65.8%, and the adjusted ratio was 63.5% against 65.4%. The GAAP operating margin fell to 14.8% from 18.0%, while the adjusted operating margin rose to 19.0% from 18.7%.

Capital and Dividend

Cash and equivalents were $1.3 billion, and investment securities and certificates of deposit were $1.1 billion at 30 June 2026. The board declared a quarterly dividend of $0.89 per share, payable on 11 September 2026 to holders of record on 28 August 2026. Evercore returned $822.9 million to shareholders in the first six months of 2026 through dividends and buybacks.

Risks to Track

The gap between GAAP and adjusted results is wide, so readers should compare like with like. Advisory revenue depends on deal closings, which can shift between quarters.

Advisory Momentum Ahead

Points to watch are whether advisory fee growth keeps pace with total revenue, how the compensation ratio holds, and whether the GAAP operating margin recovers toward the adjusted figure.