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LPL Financial (LPLA)
NASDAQ:LPLA
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
5.82Last Year’s EPS
5.15Same Quarter Last Year
Strong Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive picture: record adjusted EPS, record assets under management ($2.4 trillion), strong full-year organic net new assets ($147 billion, ~8% growth), high retention (97%) and clear progress on strategic M&A (Commonwealth, Atria, Prudential) and operating efficiency. Key near-term risks highlighted include Commonwealth retention noise (adviser sign-ups currently in the low-80% of assets versus a 90% target), elevated transition assistance and TA levels, short-term recruiting cadence and timing for pipeline pull-through, modest yield pressure from recent rate cuts, and higher 2026 G&A driven by Commonwealth integration. On balance, the company’s material operational and financial wins and clear path to realize Commonwealth synergies outweigh the near-term integration and recruiting timing challenges.Company Guidance
Record Earnings per Share
Q4 adjusted EPS of $5.23, up 23% year-over-year, and record adjusted EPS for the fiscal year of $20.09, driven by organic growth and expense discipline.
Record Asset Levels and Strong Organic Asset Growth
Total advisory and brokerage assets reached a record $2.4 trillion (up 2% sequentially from Q3). Full-year organic net new assets were $147 billion (approximately 8% growth), with Q4 organic net new assets of $23 billion (about a 4% annualized growth rate).
Robust Recruiting and Retention Metrics
Q4 recruited assets were $14 billion (annual total $104 billion). Overall asset retention was 97% for Q4 and over the last 12 months. In Q4, the firm added ~ $13 billion in traditional markets and ~ $1 billion from expanded affiliation models.
Strategic M&A Progress and Scale Expansion
Completed onboarding/integration of Atria Wealth Solutions and signed/closed acquisition of Commonwealth Financial Network (largest deal in LPL history, adding ~3,000 advisers). Expect Commonwealth to contribute roughly $425 million of run-rate EBITDA once fully integrated.
Improved Profitability and Margins
Q4 gross profit of $1.542 billion (up $62 million sequentially) and adjusted pretax margin of ~36%, reflecting operating leverage from organic growth and cost discipline.
Client Cash and Fee Revenue Strength
Client cash balances ended Q4 at $61 billion (up $5 billion sequentially). Client cash revenue was $456 million (up $14 million sequentially). Service and fee revenue was $181 million in Q4 (up $6 million sequentially) with an expected ~ $25 million sequential increase in Q1 due to fee changes (providing an ongoing ~$35 million quarterly benefit / ~$140 million annually).
Operating Efficiency and Controlled G&A
Core G&A for the full year was $1.852 billion, below the low end of prior guidance. Prior to Prudential, Atria and Commonwealth, core G&A grew ~4% in 2025—the lowest level of growth in several years—demonstrating progress on efficiency initiatives.
Employee and Brand Momentum
Launched a national marketing campaign and reported highest employee engagement scores in nearly a decade, supporting adviser acquisition and retention efforts.
Capital Position and Leverage Management
Leverage ratio was 1.95x at the end of Q4 (near midpoint of target range), corporate cash of $470 million, and management signaling potential to revisit share repurchases as leverage sits at midpoint and Commonwealth integration progresses.
LPLA 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
LPLA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 29, 2026 | $362.71 | $364.50 | +0.49% |
Oct 30, 2025 | $338.22 | $377.01 | +11.47% |
Jul 31, 2025 | $395.08 | $369.30 | -6.52% |
May 08, 2025 | $338.17 | $359.55 | +6.32% |
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 LPL Financial (LPLA) report earnings?
LPL Financial (LPLA) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is LPL Financial (LPLA) earnings time?
LPL Financial (LPLA) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LPLA EPS forecast?
LPLA EPS forecast for the fiscal quarter 2026 (Q1) is 5.82.