Stifel Financial (SF) Tops Q3 EPS by 6c, Beats on Revenues
Stifel Financial (NYSE: SF) reported Q3 EPS of $0.89, $0.06 better than the analyst estimate of $0.83. Revenue for the quarter came in at $721.2 million versus the consensus estimate of $701.12 million.
- Net revenues of $721.2 million, increased 12.3% compared with the year-ago quarter and decreased 0.6% sequentially.
- Record net revenues and pre-tax operating income in Global Wealth Management.
- Record pre-tax operating margin in Institutional Group.
- Net income available to common shareholders of $64.2 million, or $0.79 per diluted common share.
- Non-GAAP net income available to common shareholders of $71.6 million, or $0.89 per diluted common share.
- Record client assets of $264.7 billion, increased 12.9% compared with the year-ago quarter and 2.6% sequentially.
- Payment of regular quarterly dividend of $0.10 per common share.
- Issuance of $225 million of Senior Notes (settled in October 2017).
- Assets of $20.5 billion, increased 4.9% from June 30, 2017.
- Bank net interest margin of 2.80% increased 3 basis points sequentially.
For earnings history and earnings-related data on Stifel Financial (SF) click here.
