The company said net revenues of $3.12 billion and pre-tax income of $609 million for fiscal 2024 quarter Q2 (ended March 31, 2024) were each up 9% from the prior-year quarter, and diluted earnings per share of $2.22 rose 15%.

1. 01

   The company said net revenues of $3.12 billion and pre-tax income of $609 million for fiscal 2024 quarter Q2 (ended March 31, 2024) were each up 9% from the prior-year quarter, and diluted earnings per share of $2.22 rose 15%.

2. 02

   Raymond James said that, excluding $26 million in expenses related to past acquisitions, adjusted net income available to common shareholders was $494 million, up 11% from the prior-year quarter, with adjusted diluted earnings per share of $2.31 and adjusted annualized ROTCE of 21.8%.

3. 03

   The company said combined net interest income and RJBDP fees declined from the prior-year quarter. It cited a shift in deposit mix at its Bank segment as the reason interest expense rose, with lower-cost RJBDP balances falling while balances in the higher-cost ESP and certificates of deposit increased.

4. 04

   The company said total assets were $81.23 billion as of March 31, 2024, up $2.87 billion (4%) from September 30, 2023, and that bank deposits rose $644 million, driven by growth in ESP balances.

Key figures

Quarter ended March 31, 2024

Revenue

$3.6B

Net income

$476M

EPS

$2.22

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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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