Chasing High-End Work, Vinson & Elkins Sees Profits Soar in 2019
Chair Mark Kelly said the firm improved its financials by going after more sophisticated matters, resulting in 6.1% revenue growth.
February 27, 2020 at 06:53 PM
6 minute read
The original version of this story was published on Texas Lawyer
Revenue was up 6.1% at Vinson & Elkins in 2019 as the Am Law 100 firm posted its fourth consecutive year of revenue growth, while profits per equity partner improved by 11.2%, as the firm looked to take on more sophisticated matters and shifted certain practices toward growth sectors.
Revenue for the Houston-founded firm came in at $792.6 million, compared with $747.2 million in 2018. Revenue per lawyer was nearly flat for the year at $1.21 million, compared with $1.20 million the year before, a metric affected by 5.5% growth in the firm's total head count.
Profitability was strong in 2019, with PEP hitting $2.80 million, compared with $2.52 million in 2018. Net income was $349.5 million, up 10.9% from $315.2 million in 2018.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Law Firms Mentioned
Trending Stories
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250