Raymond James Financial Reports Fiscal First Quarter of 2025 Results
Raymond James Financial (RJF) reported strong fiscal Q1 2025 results with record quarterly net revenues of $3.54 billion, up 17% year-over-year and 2% sequentially. Net income available to common shareholders reached $599 million, or $2.86 per diluted share. Adjusted net income was $614 million, or $2.93 per diluted share.
Client assets under administration grew to $1.56 trillion, with record Private Client Group fee-based assets of $876.6 billion, up 17% from December 2023. The company generated $14.0 billion in domestic net new assets, representing a 4.0% annualized growth rate. The board increased the quarterly dividend by 11% to $0.50 per share and authorized a $1.5 billion share repurchase program.
Raymond James Financial (RJF) ha riportato risultati solidi per il primo trimestre fiscale del 2025, con entrate nette trimestrali record di 3,54 miliardi di dollari, in aumento del 17% rispetto all'anno precedente e del 2% rispetto al trimestre precedente. L'utile netto disponibile per gli azionisti ordinari ha raggiunto 599 milioni di dollari, ovvero 2,86 dollari per azione diluita. L'utile netto rettificato è stato di 614 milioni di dollari, pari a 2,93 dollari per azione diluita.
Gli attivi dei clienti sotto amministrazione sono cresciuti fino a 1,56 trilioni di dollari, con attivi da commissioni record del Private Client Group pari a 876,6 miliardi di dollari, in aumento del 17% rispetto a dicembre 2023. L'azienda ha generato 14,0 miliardi di dollari in nuovi attivi netti domestici, rappresentando un tasso di crescita annualizzato del 4,0%. Il consiglio ha aumentato il dividendo trimestrale dell'11% a 0,50 dollari per azione e ha autorizzato un programma di riacquisto di azioni da 1,5 miliardi di dollari.
Raymond James Financial (RJF) reportó fuertes resultados para el primer trimestre fiscal de 2025, con ingresos netos trimestrales récord de 3.54 mil millones de dólares, un aumento del 17% interanual y del 2% secuencialmente. El ingreso neto disponible para los accionistas comunes alcanzó 599 millones de dólares, o 2.86 dólares por acción diluida. El ingreso neto ajustado fue de 614 millones de dólares, o 2.93 dólares por acción diluida.
Los activos de los clientes bajo administración crecieron a 1.56 billones de dólares, con activos basados en tarifas del Grupo de Clientes Privados récord de 876.6 mil millones de dólares, un aumento del 17% desde diciembre de 2023. La empresa generó 14.0 mil millones de dólares en nuevos activos netos nacionales, lo que representa una tasa de crecimiento anualizada del 4.0%. La junta aumentó el dividendo trimestral en un 11% a 0.50 dólares por acción y autorizó un programa de recompra de acciones de 1.5 mil millones de dólares.
레이먼드 제임스 금융(RJF)는 2025 회계연도 1분기 실적을 발표하며 분기 순수익 35.4억 달러로 기록적인 결과를 기록하였고, 이는 전년 대비 17% 증가하고 이전 분기 대비 2% 증가한 수치입니다. 일반 주주에게 제공되는 순이익은 5.99억 달러로, 희석 주당 2.86달러에 해당합니다. 조정된 순이익은 6.14억 달러이며, 희석 주당 2.93달러입니다.
관리하에 있는 고객 자산은 15.6조 달러로 증가하였으며, 2023년 12월 대비 17% 증가한 8,766억 달러의 기록적인 개인 고객 그룹 수수료 기반 자산을 보유하고 있습니다. 회사는 140억 달러의 국내 순 신규 자산을 생성하였으며, 이는 연율 4.0%의 성장률을 나타냅니다. 이사회는 분기 배당금을 11% 인상하여 주당 0.50달러로 설정하였고, 15억 달러 규모의 자사주 매입 프로그램을 승인하였습니다.
Raymond James Financial (RJF) a annoncé des résultats solides pour le premier trimestre fiscal de 2025, avec des revenus nets trimestriels records de 3,54 milliards de dollars, en hausse de 17 % par rapport à l'année précédente et de 2 % par rapport au trimestre précédent. Le revenu net disponible pour les actionnaires ordinaires a atteint 599 millions de dollars, soit 2,86 dollars par action diluée. Le revenu net ajusté était de 614 millions de dollars, soit 2,93 dollars par action diluée.
Les actifs des clients sous administration ont augmenté pour atteindre 1,56 billion de dollars, avec des actifs à frais du groupe des clients privés atteignant un niveau record de 876,6 milliards de dollars, en hausse de 17 % par rapport à décembre 2023. L'entreprise a généré 14,0 milliards de dollars d'actifs nets nouveaux domestiques, représentant un taux de croissance annualisé de 4,0 %. Le conseil d'administration a augmenté le dividende trimestriel de 11 % pour le porter à 0,50 dollar par action et a autorisé un programme de rachats d'actions de 1,5 milliard de dollars.
Raymond James Financial (RJF) hat im ersten fiskalischen Quartal 2025 starke Ergebnisse mit einem Rekordquartalsnettoeinkommen von 3,54 Milliarden Dollar gemeldet, was einem Anstieg von 17 % gegenüber dem Vorjahr und 2 % gegenüber dem Vorquartal entspricht. Der den üblichen Aktionären zur Verfügung stehende Nettogewinn erreichte 599 Millionen Dollar, oder 2,86 Dollar pro verwässerter Aktie. Der bereinigte Nettogewinn betrug 614 Millionen Dollar, was 2,93 Dollar pro verwässerter Aktie entspricht.
Das verwaltete Vermögen der Kunden wuchs auf 1,56 Billionen Dollar, mit Rekordgebührenanlagen der Private Client Group in Höhe von 876,6 Milliarden Dollar, was einem Anstieg von 17 % seit Dezember 2023 entspricht. Das Unternehmen generierte 14,0 Milliarden Dollar an neuen inländischen Nettovermögen, was einer annualisierten Wachstumsrate von 4,0 % entspricht. Der Vorstand erhöhte die Quartalsdividende um 11 % auf 0,50 Dollar pro Aktie und genehmigte ein Aktienrückkaufprogramm über 1,5 Milliarden Dollar.
- Record quarterly revenues of $3.54B, up 17% YoY
- Net income increased 21% YoY to $599M
- Client assets under administration reached $1.56T
- Private Client Group fee-based assets hit record $876.6B
- Investment banking revenues up 86% YoY to $317M
- 11% dividend increase to $0.50 per share
- $1.5B share repurchase authorization
- Bank segment revenues declined 4% YoY
- Bank net interest margin decreased 14 basis points YoY to 2.60%
Insights
Raymond James delivered an exceptionally strong fiscal Q1 2025, demonstrating robust execution across all major business segments. The standout
The Private Client Group's performance is particularly noteworthy, with fee-based assets reaching
The Capital Markets segment's transformation is evident in the
The banking segment's credit quality metrics are impressive, with criticized loans declining to
- Record quarterly net revenues of
$3.54 billion , up17% over the prior year’s fiscal first quarter and2% over the preceding quarter - Quarterly net income available to common shareholders of
$599 million , or$2.86 per diluted share; quarterly adjusted net income available to common shareholders of$614 million (1), or$2.93 per diluted share(1) - Client assets under administration of
$1.56 trillion and record quarter-end Private Client Group assets in fee-based accounts of$876.6 billion , up14% and17% , respectively, over December 2023 - Domestic Private Client Group net new assets(2) of
$14.0 billion for the fiscal first quarter, annualized growth from beginning of period assets of4.0% - Total clients’ domestic cash sweep and Enhanced Savings Program (“ESP”) balances of
$59.7 billion , up3% compared to both December 2023 and September 2024 - Increased quarterly cash dividend on common shares
11% to$0.50 per share and authorized common stock repurchases of up to$1.5 billion
Raymond James Financial, Inc. (NYSE: RJF) today reported net revenues of
Compared to the prior-year quarter, record quarterly net revenues increased
“Fiscal 2025 started strong with year-over-year revenue growth of
Segment Results
Private Client Group
- Record quarterly net revenues of
$2.55 billion , up14% over the prior year’s fiscal first quarter and3% over the preceding quarter - Quarterly pre-tax income of
$462 million , up5% over the prior year’s fiscal first quarter and slightly higher than the preceding quarter - Private Client Group assets under administration of
$1.49 trillion , up14% over December 2023 and down1% compared to September 2024 - Record quarter-end Private Client Group assets in fee-based accounts of
$876.6 billion , up17% over December 2023 and up slightly over September 2024 - Domestic Private Client Group net new assets(2) of
$14.0 billion for the fiscal first quarter, or annualized growth from beginning of period assets of4.0% - Total clients’ domestic cash sweep and ESP balances of
$59.7 billion , up3% over both the prior year’s fiscal first quarter and the preceding quarter
Record quarterly net revenues grew
“The Private Client Group achieved record revenues in the fiscal first quarter largely driven by client asset growth over the prior-year quarter,” said Reilly. “Our client-first values, multiple affiliation model, and robust technology capabilities continue to support strong retention and fuel the strength and quality of the recruiting pipeline. In the fiscal quarter, we generated domestic net new assets of
Capital Markets
- Quarterly net revenues of
$480 million , up42% over the prior year’s fiscal first quarter and down1% compared to the preceding quarter - Quarterly investment banking revenues of
$317 million , up86% over the prior year’s fiscal first quarter and4% over the preceding quarter - Quarterly pre-tax income of
$74 million , up$71 million over the prior year’s fiscal first quarter and down$21 million compared to the preceding quarter
Quarterly net revenues grew
“The robust M&A results this quarter reflect a second consecutive quarter of realization of the pipeline and the investments we’ve made in our platform and people over the years,” said Reilly. “We remain optimistic for the rest of the fiscal year as the market environment is more conducive to transaction closings and our platform and capabilities are well positioned.”
Asset Management
- Record quarterly net revenues of
$294 million , up25% over the prior year’s fiscal first quarter and7% over the preceding quarter - Record quarterly pre-tax income of
$125 million , up34% over the prior year’s fiscal first quarter and8% over the preceding quarter - Financial assets under management of
$243.9 billion , up13% over December 2023 and just under the September 2024 levels
The increase in quarterly net revenues and pre-tax income over the prior year’s fiscal first quarter is largely attributable to higher financial assets under management due to higher equity markets and net inflows into fee-based accounts in the Private Client Group.
Bank
- Quarterly net revenues of
$425 million , down4% compared to the prior year’s fiscal first quarter and2% compared to the preceding quarter - Quarterly pre-tax income of
$118 million , up28% over the prior year’s fiscal first quarter and20% over the preceding quarter - Record net loans of
$47.2 billion , up7% over December 2023 and3% over September 2024 - Bank segment net interest margin (“NIM”) of
2.60% for the quarter, down 14 basis points compared to the prior year’s fiscal first quarter and 2 basis points compared to the preceding quarter - Bank loan provision for credit losses was nominal in the fiscal first quarter,
$12 million lower than the prior year’s fiscal first quarter and$22 million lower than the preceding quarter
Quarterly pre-tax income increased
The credit quality of the loan portfolio remains solid. Criticized loans as a percent of total loans held for investment ended the quarter at
Other
The effective tax rate was
In December, the Board of Directors increased the quarterly cash dividend on common shares
A conference call to discuss the results will take place today, Wednesday, January 29, at 5:00 p.m. ET. The live audio webcast, and the presentation which management will review on the call, will be available at www.raymondjames.com/investor-relations/financial-information/quarterly-earnings. An audio replay of the call will be available at the same location until April 29, 2025. For a listen-only connection to the conference call, please dial: 888-596-4144 (conference code: 3778589).
Click here to view full earnings results, earnings supplement, and earnings presentation.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are
Forward-Looking Statements
Certain statements made in this press release may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions (including changes in interest rates and inflation), demand for and pricing of our products (including cash sweep and deposit offerings), anticipated timing and benefits of our acquisitions, and our level of success integrating acquired businesses, anticipated results of litigation, regulatory developments, and general economic conditions. In addition, future or conditional verbs such as “will,” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission (the “SEC”) from time to time, including our most recent Annual Report on Form 10-K, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available at www.raymondjames.com and the SEC’s website at www.sec.gov. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a result of new information, future events, or otherwise.
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