Raymond James Financial, Inc. (RJF) Misses Q2 EPS by 6c, Sales Beat

Raymond James Financial, Inc. (NYSE: RJF) reported Q2 EPS of $0.77, $0.06 worse than the analyst estimate of $0.83. Revenue for the quarter came in at $1.29 billion versus the consensus estimate of $1.27 billion.

“While we generated record net revenues this quarter, our profitability was negatively impacted by seasonal expenses and other factors, including fewer days than the preceding quarter,” explained CEO Paul Reilly. “Notwithstanding the items that impacted our fiscal second quarter results, we had the strongest start ever to a first half of our fiscal year, as net revenues of $2.54 billion grew 7 percent and pre-tax income of $383.2 million grew 11 percent over the first half of fiscal 2014.”

Highlights:

• Record quarterly net revenues of $1.29 billion, up 9 percent over last year’s March quarter and 3 percent over the preceding quarter
• Quarterly net income of $113.5 million, or $0.77 per diluted share
• Quarter-end records for client assets under administration of $495.8 billion, financial assets under management of $69.4 billion, and net loans of $12.1 billion at Raymond James Bank
• The number of Private Client Group financial advisors reached a record 6,384, increases of 182 over last year’s March and 48 over the preceding quarter

For earnings history and earnings-related data on Raymond James Financial, Inc. (RJF) click here.

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