Raymond James Financial said that for the quarter ended December 31, 2024, it generated net revenues of $3.54 billion, an increase of 17% compared with the prior-year quarter, pre-tax income of $749 million, an increase of 19% compared with the prior-year quarter, and earnings per diluted share of $2.86, an increase of 23% compared with the prior-year quarter.

1. 01

   Raymond James Financial said that for the quarter ended December 31, 2024, it generated net revenues of $3.54 billion, an increase of 17% compared with the prior-year quarter, pre-tax income of $749 million, an increase of 19% compared with the prior-year quarter, and earnings per diluted share of $2.86, an increase of 23% compared with the prior-year quarter.

2. 02

   The company cited higher asset management and related administrative fees resulting from increased PCG client assets in fee-based accounts and significantly higher investment banking revenues driven primarily by merger and acquisition activity as factors for the increase in net revenues. It added that combined net interest income and RJBDP fees from third-party banks decreased $25 million, or 4%.

3. 03

   Raymond James Financial said that cash and cash equivalents as of December 31, 2024 were $10.05 billion, a decrease of $950 million compared with September 30, 2024, with net investments in bank loans, payments of prior-year bonuses, a decrease in bank deposits, and common stock repurchases and dividends paid on common stock as principal factors for the decrease.

4. 04

   The company said its compensation ratio for the quarter was 64.2%, compared with 63.8% for the prior-year quarter, and non-compensation expenses increased 12%, citing higher communications and information processing expenses resulting from continued investments in technology and higher investment sub-advisory fees as factors.

Key figures

Quarter ended December 31, 2024

Revenue

$4.0B

Net income

$600M

EPS

$2.86

Operating cash flow

$830M

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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