Jefferies Financial Group First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
Jefferies Financial Group (NYSE:JEF) First Quarter 2024 Results
Key Financial Results
Revenue: US$1.74b (up 35% from 1Q 2023).
Net income: US$157.5m (up 18% from 1Q 2023).
Profit margin: 9.1% (down from 10% in 1Q 2023). The decrease in margin was driven by higher expenses.
EPS: US$0.72 (up from US$0.56 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Jefferies Financial Group Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 12%.
Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Capital Markets industry in the US.
Performance of the American Capital Markets industry.
The company's shares are down 3.8% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 2 warning signs for Jefferies Financial Group (1 shouldn't be ignored!) that you need to be mindful of.
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