Jefferies Financial Group Inc

Latest Results (21.09.2025):

Jefferies Financial Group Inc. reported its second quarter of 2025 with net earnings attributable to common shareholders of $88 million and total net revenues of $1.63 billion. Despite a challenging start to the quarter, the company demonstrated resilience in its investment banking and capital markets divisions, showing optimism for the remainder of the year.

Net Earnings

Net earnings attributable to common shareholders were $88 million, or $0.40 per diluted common share from continuing operations, compared to $145.7 million in the same quarter last year.

Revenue Performance

Total net revenues for Q2 2025 were $1.63 billion, slightly decreasing from $1.66 billion in Q2 2024. Investment banking net revenues increased by 6.4% to $766 million, while capital markets net revenues saw a marginal decline to $704 million.

Investment Banking Highlights

Advisory revenues surged by 61%, reflecting significant market share gains. However, equity underwriting revenues dropped by 51% due to reduced deal activity amid volatile market conditions. Debt underwriting revenues remained flat compared to the prior year.

Capital Markets Performance

Equities net revenues rose by 24% to $526 million, driven by increased global trading volumes and corporate derivatives activity. In contrast, fixed income net revenues fell by 37% to $178 million.

Asset Management

Asset management net revenues increased by 43% to $155 million, primarily due to improved performance across several strategies.

Financial Position

The book value per common share stood at $49.96, and the adjusted tangible book value per fully diluted share was $32.84. The return on adjusted tangible shareholders' equity from continuing operations was 5.5%.

Dividend Declaration

The Jefferies Board of Directors declared a quarterly cash dividend of $0.40 per common share, payable on August 29, 2025.

Future Outlook

Management expressed optimism for the second half of 2025, citing the strength of the current backlog, increased activity levels, and ongoing discussions with clients about capital formation and strategic opportunities.