LPL Financial Q2 adjusted EPS rises 29%, beats estimates

LPL Financial Holdings

30/07/2026 21:29

Overview
U.S. wealth manager's Q2 adjusted EPS rose 29% yr/yr, beating analyst expectations
Gross profit for Q2 increased 24% from a year ago
Company repurchased $309 mln in shares and raised buyback authorization by $2.5 bln

Outlook
Company is lowering 2026 Core G&A outlook range to $2.14-2.17 bln
LPL Financial expects asset retention of about 90% for Commonwealth acquisition
Company plans about $300 mln in share repurchases for third qtr

Result Drivers
ADVISORY ASSET GROWTH - Co said advisory assets increased 46% yr/yr, boosting overall client assets and revenue
RECRUITMENT AND ACQUISITIONS - Co attributed asset growth to $25 bln in recruited assets and Mariner Advisor Network acquisition
OPERATING LEVERAGE - Management said improved operating leverage contributed to record adjusted EPS and gross profit

Company press release: ID:nGNX8ZVTws

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$5.84
$5.40 (14 Analysts)
Q2 EPS
 
$4.74
 
Q2 Net Income
 
$379 mln
 
Q2 Gross Profit
 
$1.62 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment banking & brokerage services peer group is "buy"
Wall Street's median 12-month price target for LPL Financial Holdings Inc is $394.00, about 16.6% above its July 29 closing price of $337.78
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
July 30 - Affiliated Managers Group Q2 adjusted EBITDA beats
July 28 - Asset manager Invesco's quarterly profit rises on strong inflows, higher fees 
July 30 - Virtus Investment Partners Q2 profit misses estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)