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Sep 30, 2023
Stifel Q3 2023 Earnings Report
Stifel reported a solid quarter despite challenging market conditions, with net revenues of $1.0 billion and non-GAAP EPS of $0.60, impacted by non-recurring legal accruals.
Key Takeaways
Stifel Financial Corp. reported net revenues of $1.0 billion for Q3 2023, consistent with the previous year. Net income was $58.8 million, or $0.52 per diluted share, compared to $141.8 million, or $1.21 per diluted share in Q3 2022. Non-GAAP net income was $67.4 million, or $0.60 per diluted share. The results were impacted by non-recurring legal accruals of $0.58 per diluted share after tax.
Net revenues reached $1.0 billion amidst a challenging environment.
Non-GAAP EPS was $0.60, impacted by legal and regulatory provisions of $0.58 per diluted share.
Net interest income increased by $40.2 million, a 17% rise year-over-year.
The company recruited 36 financial advisors, including 24 experienced employee advisors.
Stifel
Stifel
Stifel Revenue by Segment
Revenue by Segment
Global Wealth Mgmt Revenue
CapyFin.comInstitutional Group Revenue
CapyFin.com Forward Guidance
Although the near-term environment remains uncertain, Stifel remains well positioned to generate stable returns and strong growth as the market improves.
Revenue & Expenses
Visualization of income flow from segment revenue to net income