Raymond James reported record net revenues of $3.93 billion and net income available to common shareholders of $595 million (diluted EPS $3.01) for the fiscal third quarter ended June 30, 2026. Adjusted net income available to common shareholders was $620 million, or adjusted diluted EPS of $3.14, excluding acquisition-related expenses. The firm reported continued asset growth, record client assets under administration of $1.92 trillion and strong Private Client Group momentum.

Financial Highlights

  • Net revenues: $3.93 billion for the quarter (record), up 16% year-over-year and 2% sequentially.
  • Pre-tax income: $750 million for the quarter; pre-tax margin of 19.1%.
  • Net income available to common shareholders: $595 million; diluted EPS $3.01.
  • Adjusted net income available to common shareholders: $620 million; adjusted diluted EPS $3.14 (excludes $25 million acquisition-related expenses, net of tax).
  • Nine months: net revenues $11.52 billion and adjusted diluted EPS $8.83 (year-to-date adjusted).

Business Highlights

  • Client assets under administration reached a record $1.92 trillion, up 17% year-over-year and 9% sequentially.
  • Private Client Group (PCG) strength: quarter-end fee-based PCG assets a record $1.15 trillion; domestic PCG net new assets of $21.7 billion for the quarter (annualized growth 5.5%).
  • Asset Management growth: financial assets under management reached $345 billion (including $36 billion from the recently completed Clark Capital acquisition); Asset Management segment reported record quarterly net revenues of $362 million.
  • Bank expansion: record quarter-end net bank loans of $56.2 billion driven by growth in securities-based loans and residential mortgages; securities-based loans up 34% year-over-year to $24.8 billion.
  • Capital deployment and balance sheet: repurchased $400 million of common stock in the quarter; total capital ratio 22.5% and tier 1 leverage ratio 11.7% at quarter end, supporting continued growth initiatives.

Original SEC Filing:

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