Jefferies Financial reports Q4 adjusted EPS 96c, consensus 94c

Reports Q4 revenue $2.07B, consensus $1.99B. “Our fourth quarter net revenues were $2.07 billion, net earnings attributable to common shareholders were $191 million and diluted earnings per common share from continuing operations were $0.87,” said Richard Handler, CEO, and Brian Friedman, President. “Adjusting our results for a markdown and resulting pre-tax loss of $30 million associated with our investment in Point Bonita-a fund we advise and in which we hold an equity interest-our net earnings attributable to common shareholders was $213 million, or $0.96 per diluted share. Our quarterly results reflect strong performance and sustained momentum in both Investment Banking and Equities, with net revenues increasing 20% and 18%, respectively, partially offset by lower net revenues in Fixed Income and Asset Management. Adjusting for the impact of Point Bonita, our businesses delivered an adjusted return on adjusted tangible shareholders’ equity of 12.9%.”