Keith Fullenweider, chair of Vinson & Elkins. Courtesy photo Benefiting From Energy Work and Strategic Hiring, Vinson & Elkins Breaks Above $1B Revenue Barrier in Record Year
Despite growth in its lawyer head count and equity partner ranks, Houston-based Vinson & Elkins also improved its revenue per lawyer by 2.7% and its profits per equity partner by 3.6%.
February 13, 2024 at 08:51 PM
6 minute read
What You Need to Know
- Vinson & Elkins posted a record year of financials in 2023, improving revenue by 7.4% when compared with 2022.
- Conventional energy and energy transition work were big drivers of the Texas-founded firm's financials success.
- The firm hired strategically in areas where demand is high, and plans to continue that in 2024.
Focused on strategic growth, watching expenses and benefiting from strong demand from clients across the energy sector, Vinson & Elkins posted a record year in 2023, topping the $1 billion revenue mark for the first time and growing profits by 9.5% even with higher head count.
"It was great for us to cross the billion-dollar revenue threshold," said Keith Fullenweider, the Houston-founded firm's chair. "At the same time, we've been very focused on growing in ways that are sustainable."
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