Raymond James Financial (RJF)
NYSE:RJF
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Earnings Data
Report Date
Jul 29, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
2.92Last Year’s EPS
2.18Same Quarter Last Year
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive picture: record quarterly revenues, strong pretax income, robust adviser recruiting and retention, sizable fee-based and loan growth, meaningful capital returns, and continued heavy investment in technology and AI. These strengths offset near-term headwinds from lower interest-related revenues, elevated compensation and non-compensation expenses, modest declines in sweep cash balances, and some uncertainty around timing of investment banking deal conversions. Overall the positive operational momentum, balance sheet strength and capital returns outweigh the challenges.Company Guidance
Record Quarterly Revenues and Profitability
Net revenues of $3.86 billion were a record for the quarter, up 13% year-over-year and 3% sequentially. Pretax income was $735 million, up 10% year-over-year and 1% sequentially. Net income available to common shareholders was $542 million with diluted EPS of $2.72; adjusted net income was $564 million with adjusted EPS of $2.83. Adjusted pretax margin was 19.7%.
Private Client Group Asset Growth and Net New Assets
Private Client Group ended the quarter with $1.7 trillion of client assets under administration (up 15% year-over-year, down slightly vs prior quarter). Quarterly domestic net new assets were $23 billion, representing a 5.8% annualized growth rate.
Strong Fee-Based Asset and Asset Management Growth
Record PCG fee-based assets were $1.04 trillion (up 20% year-over-year). Asset management and related administrative fees totaled $2.02 billion, up 17% year-over-year and 1% sequentially; Asset Management segment net revenues were a record $327 million with pretax income of $137 million driven by higher AUM and positive net inflows.
Record Bank Loan Growth and SBL Momentum
Bank loans reached a record $54.8 billion, up 14% year-over-year and 3% sequentially. Securities-based lending balances increased by more than $5 billion (about +31% year-over-year and +6% sequentially), supporting strong lending growth tied to PCG activity.
Capital Deployment and Strong Capital Position
Repurchased $400 million of common stock in the quarter at an average price of $155; repurchases totaled $1.6 billion over the past 12 months. Including dividends, the firm returned over $2 billion to common shareholders in the last 12 months (≈94% of earnings). Tier 1 leverage ratio was 12.4% and total capital ratio 24%, with roughly $2.1 billion of excess capital capacity before reaching their conservative 10% Tier 1 leverage target.
Recruiting and Adviser Retention Momentum
Recruiting remained strong: trailing 12-month recruited production totaled $141 million with nearly $21 billion of client assets at recruits' previous firms. The quarter represented the second-highest result historically for recruited production and assets, and management reported robust recruiting pipeline and high retention.
Capital Markets and Investment Banking Momentum
Capital Markets segment net revenues were $464 million with pretax income of $51 million, growing year-over-year and sequentially driven by higher debt/equity underwriting and M&A/advisory activity; March was especially strong and management described a robust pipeline. Strategic acquisitions (GreensLedge closed; Clark Capital expected to close this quarter) were highlighted.
Technology and AI Investments Showing Early Wins
Annual technology spend exceeds $1.1 billion. Management rolled out a proprietary AI operations agent to a few hundred advisers and home-office groups with strong initial feedback and emphasized ongoing investment in automation, process improvement and AI to drive adviser efficiency and client experience.
RJF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
RJF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 22, 2026 | $154.52 | $153.41 | -0.72% |
Jan 28, 2026 | $167.68 | $166.98 | -0.42% |
Oct 22, 2025 | $164.86 | $163.91 | -0.58% |
Jul 23, 2025 | $159.27 | $165.18 | +3.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Raymond James Financial (RJF) report earnings?
Raymond James Financial (RJF) is schdueled to report earning on Jul 29, 2026, After Close (Confirmed).
What is Raymond James Financial (RJF) earnings time?
Raymond James Financial (RJF) earnings time is at Jul 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is RJF EPS forecast?
RJF EPS forecast for the fiscal quarter 2026 (Q3) is 2.92.