RJF · Raymond James Financial Q3 FY2026 earnings call record财报电话会记录

“We urge you to consider the risks described in our most recent Form 10-K and subsequent Forms 10-Q and Forms 8-K, which are available on our website.”

“In the quarter, we generated record quarterly revenues of $3.93 billion, representing growth of 16% over the prior year quarter and 2% above the preceding quarter.”

“We entered the Q4 with an encouraging pipeline, reflecting the opportunities created by the strategic investments we have made in this segment over the past few years.”

“Over the 12 months, we deployed capital through our share repurchase program to help manage capital levels, repurchasing approximately $1.6 billion of common stock, including $400 million during the quarter.”

“Adjusted net income available to common shareholders, which excludes acquisition-related expenses, equaled $620 million, resulting in record adjusted earnings per diluted share of $3.14.”

“Pre-tax income grew 3% over the year ago quarter as the revenue growth was partially offset by the impact of lower interest rates and investments in leading growth, including record recruiting results.”

“For the fiscal year, we remain on track with our target level of non-compensation expenses of approximately $2.3 billion, even with the additional costs associated with our two recent acquisitions, which were not contemplated at the time the target was set.”

“This quarter, we achieved adjusted pre-tax margin of 19.9%, in line with our guidance of approximately 20%.”

“RJF corporate cash at the parent ended the quarter at $2.5 billion, providing excess liquidity of $1.3 billion above our $1.2 billion target.”

“Through the combination of common dividends paid and share repurchases, we returned $506 million of capital to shareholders during the quarter.”

“What we saw was with pretty steady comp performance in the Capital Markets segment, the pre-tax margin impact was really related to an increase in certain deal-related expenses, non-compensation expenses that impacted the performance.”

“On a segment basis, there are additional costs, both on the non-comp aspect impacting that segment that weren't there prior to the Clark acquisition.”