Evercore Inc. (NYSE:EVR) Q2 2018 Earnings Conference Call - Final Transcript
Jul 25, 2018 • 08:00 am ET
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Evercore Second Quarter and First-half 2018 Financial Results Conference Call. [Operator Instructions]
I would now like to turn the conference over to your host, Evercore's Head of Investor Relations, Jamie Easton. Please go ahead, ma'am.
Good morning, and thank you, for joining us today for Evercore's second quarter and first-half 2018 Financial Results Conference Call. I'm Jamie Easton, Evercore's Head of Investor Relations. Joining me on the call today are Ralph Schlosstein, our President and Chief Executive Officer; John Weinberg, our Executive Chairman; and Bob Walsh, our CFO. After our prepared remarks, we will open the call for questions.
Earlier today, we issued a press release announcing Evercore's second quarter and first-half 2018 financial results. The company's discussion of our results today is complementary to that press release, which is available on our website at evercore.com. This conference call is being webcast live on the For Investors section on the website, and an archive of it will be available for 30 days beginning approximately one hour after the conclusion of this call.
I want to point out that during the course of this conference call, we may make a number of forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, and there are important factors that could cause actual outcomes to differ materially from those indicated in these statements. These factors include, but are not limited to, those discussed in Evercore's filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. I want to remind you that the company assumes no duty to update any forward-looking statements.
In our presentation today, unless otherwise indicated, we will be discussing adjusted financial measures, which are non-GAAP measures that we believe are meaningful when evaluating the company's performance. For detailed disclosures on these measures and the GAAP reconciliation, you should refer to the financial data contained within our press release, which, as previously mentioned, is posted on our website.
We continue to believe that it is important to evaluate Evercore's performance on an annual basis. As we've noted previously, our results for any particular quarter are influenced by the timing of transaction closings.
I'll now turn the call over to Ralph.
Thanks very much, Jamie, and good morning, everyone. We are very pleased, obviously, with our performance in the second quarter and the first half of 2018. Second quarter and first half net revenues, net income and earnings per share were all record levels. Our sustained growth in Advisory Fees continues to drive increases in Evercore's market share of Advisory Fees among all publicly reporting firms.
In fact, over the last 12 months, ending June 30, three of the seven largest firms in terms of Advisory Revenues globally are independent firms. When one considers that the independent firms compete solely on the basis of our ideas, or intellectual capital, and our relationships and