Four Florida Firms Among Am Law Second Hundred
Carlton Fields, GrayRobinson, Shutts & Bowen, and Greenspoon Marder are among the nation's 101st to 200th highest-grossing firms in the Am Law Second Hundred report.
May 22, 2018 at 03:19 PM
3 minute read
Four Florida firms appear on the Am Law Second Hundred list, which ranks the 101st to 200th highest-grossing U.S. firms in 2017. The list was published Tuesday.
Another three Florida firms with high revenue—Greenberg Traurig, Holland & Knight and Akerman—appeared on the Am Law 100 published in May. The Am Law 100 is comprised of the nation's 100 highest-grossing firms, and the Second Hundred includes the next 100 highest-grossing firms.
Three of the four Florida firms on the Second Hundred moved up in the rankings, while one slipped a few spots when compared with rankings on last year's Second Hundred, which considered 2016 revenue.
Am Law Second 100 – Florida firms Nationwide, the Second Hundred firms did not do as well in 2017 as the Am Law 100 firms. Gross revenue grew by 5.5 percent for the Am Law 100, but slipped by 0.2 percent for the Second Hundred. Revenue per lawyer grew by 3.2 percent for the Am Law 100, but declined by 0.3 percent for the Second Hundred. And profits per equity partner grew by 6.3 percent for the Am Law 100 but dipped 1.4 percent for the Second Hundred.
Carlton Fields was the highest-ranking Florida firm on the Second Hundred list, taking the 156th spot with $174.5 million in revenue. It lost some ground, though, as the firm ranked 146th last year.
GrayRobinson took the 161st spot with $156.5 million in revenue, up from 165th last year. Shutts & Bowen was right behind in the 162nd position, with revenue of $155.6 million. The firm ranked 169th last year. Rounding out the Florida firms on the Second Hundred, Greenspoon Marder was 172nd, with revenue of $134.7 million, up from 176 last year.
Many consider revenue per lawyer (RPL) the most accurate measure of a firm's financial performance. Fort Lauderdale-based Greenspoon Marder posted a 6.8 percent increase in RPL in 2017—the largest increase among the four Florida firms. RPL improved by 2.9 percent at Orlando's GrayRobinson and by 1.3 percent at Miami-based Shutts & Bowen. But RPL dipped 1.3 percent at Miami's Carlton Fields.
Profits per equity partner improved by 5.2 percent at Greenspoon Marder and by 4.2 percent at Shutts & Bowen. It declined 2.7 percent at GrayRobinson and 3 percent at Carlton Fields.
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