Jefferies Monetary Group posts sturdy This autumn outcomes, shares flat

NEW YORK – Jefferies Monetary Group Inc. (NYSE:JEF) reported better-than-expected fourth quarter outcomes on Wednesday, with earnings and income surpassing analyst estimates amid sturdy efficiency throughout its enterprise segments. Shares have been buying and selling flat following the report.

The funding financial institution and monetary companies firm posted adjusted earnings per share of $0.91 for the quarter ended November 30, beating the consensus forecast of $0.87. Income got here in at $1.96 billion, topping expectations of $1.74 billion.

Jefferies noticed strong progress throughout its key enterprise traces in This autumn. Funding banking internet revenues surged 73% year-over-year to $987 million, pushed by report advisory revenues of $597 million. Capital markets internet revenues elevated to $652 million, up from $486 million within the prior 12 months quarter.

“Our fourth quarter internet revenues of $1.96 billion, pre-tax earnings from persevering with operations of $305 million and diluted earnings per share from persevering with operations of $0.91 are 63%, 249% and 214%, larger than the prior 12 months quarter, respectively,” mentioned CEO Richard Handler and President Brian Friedman in a press release.

For the total fiscal 12 months 2024, Jefferies reported internet revenues of $7.03 billion, up 50% from 2023. Internet earnings attributable to frequent shareholders rose to $669 million, or $2.96 per diluted share, in comparison with $263 million, or $1.10 per share, within the earlier 12 months.

The corporate additionally introduced a 14.3% improve in its quarterly dividend to $0.40 per share.

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