Evercore Inc. reported unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2017. For the quarter, net revenues were $540,031,000 against $445,369,000 for the same period of last year. Income before income from equity method investments and was $184,146,000 against $97,359,000 for the same period of last year. Income before income taxes was $187,477,000 against $99,871,000 for the same period of last year. Net loss attributable to the company's common shareholders was $19,412,000 against income of $43,428,000 for the same period of last year. Diluted loss per share was $0.50 against income of $0.98 for the same period of last year. Adjusted net Revenue was $465,452,000 against $442,189,000 for the same period of last year. Adjusted operating income was $134,192,000 against $127,010,000 for the same period of last year. Adjusted net income attributable to the company's shareholders was $77,998,000 against $74,417,000 for the same period of last year. Adjusted diluted earnings per share was $1.55 against $1.43 for the same period of last year.

For the year, net revenues were $1,704,349,000 against $1,440,052,000 for the same period of last year. Income before income from equity method investments and was $428,811,000 against $261,174,000 for the same period of last year. Income before income taxes was $437,649,000 against $267,815,000 for the same period of last year. Net income attributable to the company's common shareholders was $125,454,000 against $107,528,000 for the same period of last year. Diluted earnings per share was $2.80 against $2.43 for the same period of last year. Adjusted net Revenue was $1,625,752,000 against $1,431,137,000 for the same period of last year. Adjusted operating income was $426,497,000 against $378,829,000 for the same period of last year. Adjusted net income attributable to the company's shareholders was $276,371,000 against $223,018,000 for the same period of last year. Adjusted diluted earnings per share was $5.45 against $4.32 for the same period of last year. Without the benefit of the reduced tax rate, which is primarily in the first quarter of each year, EPS would have been up approximately 15%. Net revenues and adjusted net revenues were increased, driven by an increase in Investment Banking revenues, primarily due to an increase in Advisory fees.

The company expects 2018 adjusted effective tax rate to be approximately 21%, reflecting the lower tax structure of the Tax Cuts and Jobs Act. The adjusted effective tax rate would be approximately 25%, excluding any impact of share price changes on the deduction associated with share-based compensation.