Jefferies Q3 2024 Earnings Report
Key Takeaways
Jefferies Financial Group reported third quarter net revenues of $1.68 billion, reflecting strong performance and continued momentum in Investment Banking, with particularly strong performance in Advisory. Net earnings attributable to common shareholders were $167 million, or $0.75 per diluted common share.
Net earnings attributable to common shareholders of $167 million, or $0.75 per diluted common share.
Investment Banking net revenues of $949 million were up 18.2% from the prior quarter and 47.3% from the same quarter last year, driven by an increase in advisory activity.
Capital Markets net revenues of $671 million were down only 3.0% versus an exceptionally strong prior quarter but were up 28.1% from the same quarter last year.
The company closed on the sale of OpNet during the quarter.
Jefferies
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Jefferies Revenue by Segment
Forward Guidance
Jefferies feels they have the right global team that is positioned exceptionally well to serve their clients, especially in a backdrop of declining interest rates and increasing activity driven by pent up demand for capital markets and advisory deal flow. After heavy recent investment in human capital during the slowdown, now is the time for Jefferies to focus on executing for their clients and enhancing their overall market position around the world.
Positive Outlook
- Declining interest rates
- Increasing activity driven by pent up demand for capital markets
- Increasing activity driven by pent up demand for advisory deal flow
- Heavy recent investment in human capital during the slowdown
- Focus on executing for clients and enhancing overall market position around the world