From GlobeNewswire: 2025-01-29 16:24:00

Raymond James Financial, Inc. reported record quarterly net revenues of $3.54 billion and net income available to common shareholders of $599 million for the fiscal first quarter of 2025. Quarterly adjusted net income was $614 million, with client assets under administration reaching $1.56 trillion.

The Private Client Group achieved record quarterly net revenues of $2.55 billion, up 14% year-over-year. The segment saw quarterly pre-tax income of $462 million and recorded $876.6 billion in fee-based accounts. Domestic net new assets totaled $14.0 billion for the fiscal first quarter.

In the Capital Markets segment, quarterly net revenues grew 42% year-over-year to $480 million, driven by investment banking revenues of $317 million. Quarterly pre-tax income reached $74 million, reflecting an $71 million increase over the prior year’s fiscal first quarter.

Asset Management also saw record quarterly net revenues of $294 million, a 25% increase over the prior year’s fiscal first quarter. Financial assets under management totaled $243.9 billion, up 13% over December 2023. The growth was driven by higher equity markets and net inflows into fee-based accounts. The bank reported quarterly net revenues of $425 million, a 4% decrease from the prior year and a 2% drop from the previous quarter. However, quarterly pre-tax income increased by 28% over the prior year’s fiscal first quarter and 20% over the preceding quarter. Record net loans reached $47.2 billion, up 7% from December 2023. Loan provision for credit losses was lower than in previous quarters.

The bank’s quarterly pre-tax income rose by 20% compared to the preceding quarter, mainly due to a lower loan provision for credit losses. Net loans increased over the prior year’s fiscal first quarter and the preceding quarter, driven by growth in securities-based loans and residential mortgages. Credit quality of the loan portfolio remains solid.

The bank’s effective tax rate for the quarter was 19.9%. The Board of Directors raised the quarterly cash dividend on common shares by 11% to $0.50 per share and authorized common stock repurchases of up to $1.5 billion. At the end of the quarter, the total capital ratio was 25.0% and the tier 1 leverage ratio was 13.0%, exceeding regulatory requirements.

A conference call to discuss the bank’s results will take place on Wednesday, January 29, at 5:00 p.m. ET. The presentation and webcast will be available on the company’s website. An audio replay of the call will also be accessible online until April 29, 2025. Total client assets at Raymond James Financial, Inc. are $1.56 trillion, with the firm listed on the NYSE under the symbol RJF.



Read more at GlobeNewswire:: Raymond James Financial Reports Fiscal First Quarter of