The strong beat on EPS and record revenue, coupled with continued share repurchases and improving pre-tax margins, supports a bullish near-term outlook. Monitor the sustainability of investment banking momentum and credit quality trends, as the provision for credit losses rose notably.
Price Chart
Executive Summary
Stifel Financial reported Q2 2026 net revenues of $1.45B (+13% YoY) and non-GAAP diluted EPS of $1.42, beating consensus of $1.36 by 4.4%. Investment banking revenues surged 42% YoY, Global Wealth Management posted record net revenue of $956.5M, and the company repurchased $177M in stock. The beat was driven by stronger-than-expected investment banking and asset management revenues, partially offset by a sequential decline in advisory fees and a higher provision for credit losses.
Key Financial Metrics
Key Facts
- Net revenues of $1.45B, up 13% YoY, a record second quarter.
- Non-GAAP diluted EPS of $1.42 beat consensus of $1.36 by 4.4%.
- Investment banking revenues increased 42% YoY to $332M.
- Global Wealth Management net revenues hit a record $956.5M, up 13% YoY.
- Company repurchased $177M of common stock (2.4M shares) in Q2.
- Tangible book value per share rose 15% YoY to $25.52.
- Non-GAAP pre-tax margin improved to 21.7% from 20.3% a year ago.
- Provision for credit losses increased 51% YoY to $12.5M.
Financial Impact
Non-GAAP net income available to common shareholders of $229.3M, up 23.5% YoY, on net revenues of $1.45B.
Risk Factors
- Provision for credit losses increased 51% YoY to $12.5M, signaling potential credit deterioration.
- Fixed income transactional revenues fell 26% YoY, impacted by lower realized trading gains.
- Sequential decline in advisory revenues (-28% vs Q1 2026) could signal lumpiness in deal pipeline.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-311288 |
| Document: d137168dex991.htm | 0001193125-26-311288 |
| Document: d137168d8k.htm | 0001193125-26-311288 |
| Document: d137168dex993.htm | 0001193125-26-311288 |
| Document: 0001193125-26-311288-index-headers.html | 0001193125-26-311288 |
| Document: 0001193125-26-311288-index.html | 0001193125-26-311288 |
| Document: 0001193125-26-311288.txt | 0001193125-26-311288 |
| 8-K Data (Synthetic) | 0001193125-26-311288 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $66.41 | awaiting T+5 | — | $66.68 (−0.41%) |
Oct 15, 2026 11d ago | Press Release | $68.69 $67.85 | ▼ −1.22% | ▼ −0.21% | $66.68 (−2.93%) |
Sep 24, 2026 4w ago | 8-K | $70.35 $70.28 | ▼ −0.10% | ▲ +0.12% | $66.68 (−5.22%) |
Aug 12, 2026 10w ago | 13F-HR | $84.94 $82.72 | ▼ −2.61% | ▼ −2.17% | $66.68 (−21.50%) |
Jul 22, 2026 13w ago | 8-K | $79.31 $81.92 | ▲ +3.29% | ▲ +5.69% | $66.68 (−15.92%) |
Jul 15, 2026 14w ago | Press Release | $78.69 $79.56 | ▲ +1.11% | ▲ +2.78% | $66.68 (−15.26%) |
Jun 25, 2026 17w ago | 8-K | $69.27 $73.17 | ▲ +5.63% | ▲ +3.46% | $66.68 (−3.74%) |
Apr 22, 2026 26w ago | Press Release | $77.37 $77.39 | ▲ +0.03% | ▼ −0.03% | $66.68 (−13.82%) |
Apr 16, 2026 27w ago | Press Release | $82.32 | awaiting T+5 | — | $66.68 (−19.00%) |
Feb 26, 2026 34w ago | 8-K | $73.71 $73.15 | ▼ −0.76% | ▲ +1.22% | $66.68 (−9.54%) |
US Market Status
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