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Mar 31, 2025
Raymond James Q2 2025 Earnings Report
Raymond James reported its fiscal second quarter 2025 results, with increases in net revenues and net income available to common shareholders.
Key Takeaways
Raymond James Financial, Inc. reported quarterly net revenues of $3.40 billion, up 9% year-over-year but down 4% sequentially. Net income available to common shareholders was $493 million, or $2.36 per diluted share. The firm also reported record net revenues and pre-tax income for the first half of fiscal 2025.
Quarterly net revenues reached $3.40 billion, marking a 9% increase year-over-year.
Net income available to common shareholders was $493 million, translating to $2.36 per diluted share.
Client assets under administration grew to $1.54 trillion, and Private Client Group assets in fee-based accounts reached $872.8 billion.
The firm repurchased $250 million of common stock during the quarter, with an additional $190 million in April 2025.
Revenue by Segment
Forward Guidance
Raymond James Financial, Inc. maintains a strong balance sheet and capital position, which should help navigate macroeconomic uncertainties. Financial advisor recruiting remains robust, and the investment banking pipeline is strong despite current timing impacts.
Positive Outlook
- Financial advisor recruiting activity remains strong across all affiliation options.
- The firm's unique advisor- and client-focused culture, coupled with leading capabilities, attracts high-quality financial advisors.
- The investment banking pipeline remains robust, indicating potential for future growth.
- Strong balance sheet with capital well above regulatory requirements.
- Corporate cash well in excess of targets, providing financial flexibility.
Challenges Ahead
- Timing of investment banking closings has been impacted by macroeconomic uncertainty.
- Tariff negotiations are contributing to macroeconomic uncertainty.
- Sequential decrease in net revenues (4%) compared to the preceding quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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