Raymond James Financial Reports Fiscal Third Quarter of 2025 Results
ST. PETERSBURG, Fla., July 23, 2025 (GLOBE NEWSWIRE) --
Record net revenues of $10.34 billion and record pre-tax income of $1.98 billion for the first nine months of fiscal 2025, up 10% and 5%, respectively, over the first nine months of fiscal 2024
Record client assets under administration of $1.64 trillion and record Private Client Group assets in fee-based accounts of $943.9 billion, up 11% and 15%, respectively, over June 2024
Quarterly net revenues of $3.40 billion, up 5% over the prior year's fiscal third quarter and flat compared to the preceding quarter
Quarterly net income available to common shareholders of $435 million, or $2.12 per diluted share; quarterly adjusted net income available to common shareholders of $449 million(1), or $2.18 per diluted share(1)
Repurchased $451 million of common stock during the fiscal third quarter
Annualized return on common equity of 17.1% and annualized adjusted return on tangible common equity of 20.5%(1) for the first nine months of fiscal 2025
Raymond James Financial, Inc. (NYSE:RJF) today reported net revenues of $3.40 billion and net income available to common shareholders of $435 million, or $2.12 per diluted share, for the fiscal third quarter ended June 30, 2025. Excluding $19 million of expenses related to acquisitions, quarterly adjusted net income available to common shareholders was $449 million(1), or $2.18 per diluted share(1). The results for the period included a $58 million reserve increase associated with the settlement of a legal matter related to bond underwritings for a specific issuer, sold to institutional investors between 2013 to 2015. Although the firm maintains it had strong defenses and denied any liability, given the complexity of the case and the unpredictability of litigation outcomes, it determined to resolve the long-running dispute without admission of wrongdoing.
"This quarter we celebrate the firm's 150th consecutive quarter of profitability, highlighting the strength of our diverse and complementary businesses and our ongoing commitment to always putting clients first," said CEO Paul Shoukry. "We are encouraged by the significant growth in our financial advisor recruiting pipeline, as more advisors continue to recognize our unique culture, comprehensive capabilities, strong balance sheet, and our steadfast commitment to maintaining independence. Our investment banking pipeline remains strong, and we are growing increasingly optimistic about macroeconomic conditions although the environment remains uncertain. Looking ahead, we enter the fiscal fourth quarter well positioned, supported by record client assets and significant capital to drive further business growth."
Quarterly net revenues increased 5% over the prior year's fiscal third quarter and approximated the preceding quarter level, with continued growth in asset management and related administrative fees which increased to $1.73 billion. Primarily the result of the impact of the aforementioned legal reserve, net income available to common shareholders decreased. For the fiscal third quarter, annualized return on common equity and annualized adjusted return on tangible common equity were 14.3% and 17.2%(1), respectively.For the first nine months of the fiscal year, record net revenues of $10.34 billion increased 10%, record earnings per diluted share of $7.35 increased 7%, and record adjusted earnings per diluted share of $7.55(1) increased 6% over the first ...
