Raymond James Financial, Inc. (RJF) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Raymond James Financial, Inc. (RJF) reported revenue of $2.91 billion, up 7% over the same period last year. EPS came in at $1.85, compared to $1.61 in the year-ago quarter.
The reported revenue represents a surprise of +0.62% over the Zacks Consensus Estimate of $2.89 billion. With the consensus EPS estimate being $2.10, the EPS surprise was -11.90%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Raymond James Financial, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Investment banking: $151 million versus the four-analyst average estimate of $163.73 million. The reported number represents a year-over-year change of -32.3%.
Total Revenues- Other: $57 million compared to the $33.13 million average estimate based on four analysts. The reported number represents a change of +90% year over year.
Revenues- Interest income: $987 million versus the four-analyst average estimate of $890.59 million. The reported number represents a year-over-year change of +163.9%.
Revenues- Account and service fees: $264 million versus the four-analyst average estimate of $247.46 million. The reported number represents a year-over-year change of +25.1%.
Net Revenues- Total brokerage revenues: $461 million versus the four-analyst average estimate of $503.45 million. The reported number represents a year-over-year change of -10.1%.
Revenues- Asset management and related administrative fees: $1.37 billion versus $1.39 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.8% change.
Revenues- Bank: $514 million compared to the $425.99 million average estimate based on two analysts. The reported number represents a change of +86.2% year over year.
Net Revenues- Private Client Group: $2.18 billion versus the two-analyst average estimate of $2.19 billion. The reported number represents a year-over-year change of +11.4%.
Revenues- Asset Management: $226 million versus $220.07 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.9% change.
Revenues- Capital Markets: $276 million compared to the $318.23 million average estimate based on two analysts. The reported number represents a change of -27.9% year over year.
Net Revenues- Other: $15 million compared to the $13.25 million average estimate based on two analysts. The reported number represents a change of -171.4% year over year.
Principal transactions: $105 million compared to the $128.50 million average estimate based on two analysts.
View all Key Company Metrics for Raymond James Financial, Inc. here>>>
Shares of Raymond James Financial, Inc. have returned +9.5% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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