Raymond James beats Q2 adjusted profit estimates

Raymond James Financial

22/04/2026 21:23

Overview

US financial services firm's fiscal Q2 revenue up 13% yr/yr, slight miss vs analyst expectations

Adjusted EPS for fiscal Q2 beat analyst expectations

Company repurchased $400 mln in stock during the quarter

Outlook

Company says financial advisor recruiting activity remains robust across all affiliation options

Company says investment banking pipeline continues to be strong

Company highlights ongoing market uncertainty impacting clients

Result Drivers

ASSET MANAGEMENT FEES - Higher asset management and related administrative fees, mainly due to market appreciation and net inflows into fee-based accounts, drove revenue growth

INVESTMENT BANKING REVENUES - Growth in investment banking revenues, led by higher debt and equity underwriting, M&A and advisory, and fixed income brokerage revenues, contributed to Capital Markets segment gains

BANK LOAN GROWTH - Bank segment net revenues benefited from loan growth, especially in securities-based and residential mortgage loans, and lower funding costs

Company press release: ID:nGNXbfbQXx

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Miss*
$3.86 bln
$3.87 bln (6 Analysts)
Q2 Adjusted EPS
Beat
$2.83
$2.78 (12 Analysts)
Q2 EPS
$2.72
Q2 Adjusted Net Income
Slight Miss*
$564 mln
$567.79 mln (7 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 9 "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 Raymond James Financial Inc is $173.50, about 12.3% above its April 21 closing price of $154.54

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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.)