The company reported net revenues of $3.01 billion and net income available to common shareholders of $497 million, or $2.32 per diluted share, for fiscal Q1 ended December 31, 2023. The company said net revenues rose 8% from the prior-year period, while net income fell 2%.

1. 01

   The company reported net revenues of $3.01 billion and net income available to common shareholders of $497 million, or $2.32 per diluted share, for fiscal Q1 ended December 31, 2023. The company said net revenues rose 8% from the prior-year period, while net income fell 2%.

2. 02

   The company attributed the decline in net income to a $32 million insurance settlement received in the year-ago period. It said adjusted net income available to common shareholders, excluding $23 million in acquisition-related expenses, was $514 million ($2.40 per diluted share).

3. 03

   Raymond James said quarterly net revenues in Private Client Group were $2.23 billion, up 8% from the prior-year quarter, and pre-tax income was $439 million. Domestic Private Client Group net new assets were $21.6 billion, with annualized growth of 7.8% of beginning-of-period assets.

4. 04

   The company said its board on November 2023 raised the quarterly cash dividend by 7% to $0.45 per share and approved common stock repurchases of up to $1.5 billion. It said it repurchased 1.41 million shares of common stock for $150 million in fiscal Q1.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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