The beat was modest, but record capital markets and asset management revenues signal strong operating leverage. Monitor next quarter's net new asset growth and NIM stability as indicators of sustained momentum. Stock may re-rate if investment banking strength persists.
Price Chart
Executive Summary
Raymond James Financial reported Q2 fiscal 2026 earnings with EPS of $2.83 (adjusted), beating consensus of $2.76 by 2.5%, on record revenue of $3.86 billion, up 13% YoY. Guidance was maintained, with strong growth in fee-based assets and capital markets.
Key Financial Metrics
Key Facts
- Adjusted EPS of $2.83 vs. consensus $2.76 (2.5% beat)
- Revenue of $3.86 billion, above consensus of $3.85 billion
- Record quarterly net revenues up 13% YoY, driven by asset management and investment banking
- Domestic Private Client Group net new assets of $23.0 billion (5.8% annualized growth)
- Firm repurchased $400 million in stock at $155 average price
Financial Impact
Revenue beat by $10 million and EPS beat by $0.07; adjusted return on tangible common equity of 20.9%
Risk Factors
- Lower pre-tax income in Private Client Group despite revenue growth, due to higher investment costs
- Effective tax rate increased to 26.0%, driven by nondeductible losses in corporate-owned life insurance
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3279397 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Press Release | $176.11 $158.76 | ▼ −9.85% | ▼ −9.34% | $158.21 (−10.16%) |
Jul 29, 2026 9w ago | Insider Cluster | $174.16 $176.69 | ▲ +1.45% | ▼ −3.57% | $158.21 (−9.16%) |
Jul 22, 2026 10w ago | Press Release | $166.14 $171.98 | ▲ +3.52% | ▲ +0.21% | $158.21 (−4.77%) |
Jun 24, 2026 14w ago | 8-K | $150.52 $166.14 | ▲ +10.38% | ▲ +9.85% | $158.21 (+5.11%) |
May 27, 2026 18w ago | 8-K | $145.26 $154.79 | ▲ +6.56% | ▲ +8.85% | $158.21 (+8.91%) |
May 13, 2026 20w ago | Press Release | $155.45 $154.40 | ▼ −0.68% | ▲ +0.18% | $158.21 (+1.77%) |
Apr 22, 2026 23w ago | 8-K | $153.10 $152.07 | ▼ −0.67% | ▼ −5.31% | $158.21 (+3.34%) |
Apr 22, 2026 23w ago | Press Release | $153.10 $152.07 | ▼ −0.67% | ▼ −5.31% | $158.21 (+3.34%) |
Mar 18, 2026 28w ago | Press Release | $142.86 $151.58 | ▲ +6.10% | ▼ −1.52% | $158.21 (+10.74%) |
US Market Status
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