Back to top

Image: Bigstock

Raymond James Financial (RJF) Reports Q2 Earnings: What Key Metrics Have to Say

Read MoreHide Full Article

For the quarter ended March 2024, Raymond James Financial, Inc. (RJF - Free Report) reported revenue of $3.12 billion, up 8.5% over the same period last year. EPS came in at $2.31, compared to $2.03 in the year-ago quarter.

The reported revenue represents no surprise over the Zacks Consensus Estimate of $3.12 billion. With the consensus EPS estimate being $2.32, the EPS surprise was -0.43%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Raymond James Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Tier 1 Leverage Ratio: 12.3% versus 12.4% estimated by three analysts on average.
  • Private Client Group assets in Fee-based Accounts: $798.80 million compared to the $751.70 million average estimate based on two analysts.
  • Tier 1 Capital Ratio: 21.9% versus the two-analyst average estimate of 21.9%.
  • Total Capital Ratio: 23.3% versus 23.2% estimated by two analysts on average.
  • Net Revenues- Total brokerage revenues: $528 million versus $519.42 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
  • Revenues- Interest income: $1.05 billion versus the five-analyst average estimate of $1.03 billion. The reported number represents a year-over-year change of +14.6%.
  • Total Revenues- Other: $31 million versus the five-analyst average estimate of $40.16 million. The reported number represents a year-over-year change of -3.1%.
  • Revenues- Account and service fees: $335 million versus $316.81 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +29.8% change.
  • Revenues- Asset management and related administrative fees: $1.52 billion compared to the $1.51 billion average estimate based on five analysts. The reported number represents a change of +16.4% year over year.
  • Revenues- Investment banking: $179 million compared to the $181.66 million average estimate based on five analysts. The reported number represents a change of +16.2% year over year.
  • Principal transactions: $114 million versus $122.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -10.2% change.
  • Revenues- Brokerage revenues- Securities Commissions and Fees: $414 million versus the three-analyst average estimate of $390.94 million. The reported number represents a year-over-year change of +12.2%.
View all Key Company Metrics for Raymond James Financial here>>>

Shares of Raymond James Financial have returned +1.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Raymond James Financial, Inc. (RJF) - free report >>

Published in