Evercore Sees ‘Strong Momentum’ in M&A as Results Beat Estimates

Evercore Inc. said it sees “strong momentum” in mergers and acquisitions as it reported earnings significantly above expectations, a positive sign for a sector looking to rebound after a prolonged dealmaking slump.

The independent investment bank, which also helps clients restructure debt and navigate policy questions, reported adjusted net revenue of $790 million for the fourth quarter, higher than the $716 million average estimate of analysts surveyed by Bloomberg.

Investors are gauging the mood for mergers and acquisitions after a muted year for dealmaking in 2023. With the Federal Reserve expected to lower interest rates this year, conditions are ripe ...