Evercore Q3 2023 profit falls: GAAP EPS $1.30 vs $2.03 a year earlier, revenue down 1%
Evercore reported third quarter 2023 results on a U.S. GAAP basis, with net revenues of $570.2 million, down 1% from $576.9 million a year earlier. Net income attributable to Evercore fell to $52.1 million from $82.4 million, and diluted EPS dropped to $1.30 from $2.03, as advisory fees declined and compensation costs rose as a share of revenue. The company also declared a quarterly dividend of $0.76 per share, payable December 8, 2023.
Key points
- Q3 2023 GAAP net revenues were $570.2 million versus $576.9 million in Q3 2022; operating income was $76.8 million versus $130.4 million.
- Q3 2023 GAAP net income attributable to Evercore was $52.1 million, or $1.30 diluted EPS, versus $82.4 million, or $2.03, a year earlier.
- Advisory fees fell 4% in the quarter and 23% year to date, while the compensation ratio rose to 68.7% from 61.7%.
- Quarterly dividend of $0.76 per share declared October 24, 2023, payable December 8, 2023 to holders of record on November 24, 2023.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 25, 2023.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.