Stifel Financial (SF) Tops Q3 EPS by 6c, Beats on Revenues

Stifel Financial (NYSE: SF) reported Q3 EPS of $0.89, $0.06 better than the analyst estimate of $0.83. Revenue for the quarter came in at $721.2 million versus the consensus estimate of $701.12 million.

• Net revenues of $721.2 million, increased 12.3% compared with the year-ago quarter and decreased 0.6% sequentially.
• Record net revenues and pre-tax operating income in Global Wealth Management.
• Record pre-tax operating margin in Institutional Group.
• Net income available to common shareholders of $64.2 million, or $0.79 per diluted common share.
• Non-GAAP net income available to common shareholders of $71.6 million, or $0.89 per diluted common share.
• Record client assets of $264.7 billion, increased 12.9% compared with the year-ago quarter and 2.6% sequentially.
• Payment of regular quarterly dividend of $0.10 per common share.
• Issuance of $225 million of Senior Notes (settled in October 2017).
• Assets of $20.5 billion, increased 4.9% from June 30, 2017.
• Bank net interest margin of 2.80% increased 3 basis points sequentially.

For earnings history and earnings-related data on Stifel Financial (SF) click here.

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