On July 30, Evercore Partners fell 11.06% in regular trading, trading at $303.305/share with turnover of $235 million, following the release of its Q2 earnings report.
The company reported Q2 adjusted EPS of $2.91, which beat the IBES consensus estimate of $2.77 but fell short of the FactSet estimate of $3.03. Revenue came in at $990.2 million, up 18.7% year-over-year from $833.8 million. However, compared to the prior quarter's $1.402 billion in revenue and adjusted EPS of $7.53, Q2 results represented a dramatic sequential decline. Operating profit margin compressed to just 14.8%, a sharp deterioration from Q1's 21.65% net margin.
The broader Investment Banking and Brokerage sector also traded lower, with Goldman Sachs down 4.52%, Interactive Brokers down 4.76%, Robinhood down 3.98%, and Morgan Stanley down 3.58%, while Charles Schwab edged up 0.25%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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