Evercore (NYSE:VR) reported unprecedented financial results for the first quarter ended March 31, 2026, as a surge in large-scale strategic transactions propelled the firm to record performance across nearly every business line.
The New York-based investment bank posted net revenues of $1.4 billion on both a U.S. GAAP and adjusted basis, representing a 100% increase compared to the first quarter of 2025.
The surge in top-line growth translated into significant profitability gains.
Adjusted operating income rose 205% to $354.5 million, while adjusted diluted earnings per share (EPS) hit $7.53, up from $3.49 in the prior-year period.
Evercore’s adjusted operating margin expanded by 868 basis points to 25.3%, driven by strong revenue leverage and a disciplined compensation ratio of 64.0%.
The firm’s performance was anchored by its Advisory business, which benefited from a series of high-profile, multi-billion-dollar mandates.
Evercore served as a lead advisor on several of the quarter's most notable transactions, including Warner Brothers Discovery’s $110 billion sale to Paramount Skydance and Devon Energy’s $58 billion merger with Coterra Energy.