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Sep 30, 2023
Raymond James Q4 2023 Earnings Report
Raymond James reported record quarterly net revenues and solid performance across its segments.
Key Takeaways
Raymond James Financial reported record net revenues of $3.05 billion for the fiscal fourth quarter ended September 30, 2023, up 8% year-over-year. Net income available to common shareholders was $432 million, or $2.02 per diluted share. The company's Private Client Group and Bank segments generated record net revenues for the fiscal year.
Record quarterly net revenues of $3.05 billion, up 8% year-over-year.
Quarterly net income available to common shareholders of $432 million, or $2.02 per diluted share.
Domestic Private Client Group net new assets of $14.2 billion for the fiscal fourth quarter, annualized growth from beginning of period assets of 5.0%.
Client assets under administration of $1.26 trillion and financial assets under management of $196.4 billion.
Revenue by Segment
Forward Guidance
Raymond James enters fiscal 2024 with strong client asset levels and healthy pipelines for growth across the business. However, given uncertainty around interest rates and geopolitical conditions, the company remains relentlessly focused on maintaining strong capital ratios and a flexible balance sheet to support results in any market environment.
Positive Outlook
- Strong client asset levels
- Healthy pipelines for growth across the business
- Robust technology capabilities
- Client-first values
- Strong financial advisor retention and recruiting
Challenges Ahead
- Uncertainty around interest rates
- Geopolitical conditions
- Elevated provisions for legal and regulatory matters
- Lower fixed income brokerage revenues
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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