NEW YORK - Jefferies Financial Group Inc. (NYSE:JEF) reported better-than-expected fourth quarter results on Wednesday, with earnings and revenue surpassing analyst estimates amid strong performance across its business segments. Shares were trading flat following the report.
The investment bank and financial services company posted adjusted earnings per share of $0.91 for the quarter ended November 30, beating the consensus forecast of $0.87. Revenue came in at $1.96 billion, topping expectations of $1.74 billion.
Jefferies saw robust growth across its key business lines in Q4. Investment banking net revenues surged 73% year-over-year to $987 million, driven by record advisory revenues of $597 million. Capital markets net revenues increased to $652 million, up from $486 million in the prior year quarter.
"Our fourth quarter net revenues of $1.96 billion, pre-tax earnings from continuing operations of $305 million and diluted earnings per share from continuing operations of $0.91 are 63%, 249% and 214%, higher than the prior year quarter, respectively," said CEO Richard Handler and President Brian Friedman in a statement.
For the full fiscal year 2024, Jefferies reported net revenues of $7.03 billion, up 50% from 2023. Net earnings attributable to common shareholders rose to $669 million, or $2.96 per diluted share, compared to $263 million, or $1.10 per share, in the previous year.
The company also announced a 14.3% increase in its quarterly dividend to $0.40 per share.
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