Stifel Financial (SF) Tops Q4 EPS by 84c

Stifel Financial (NYSE: SF) reported Q4 EPS of $1.47, $0.84 better than the analyst estimate of $0.63. Revenue for the quarter came in at $804.1 million versus the consensus estimate of $745.43 million.

“We are pleased to announce that 2017 was our 22nd consecutive year of record net revenue of $2.9 billion that increased 14% from 2016. Both of our operating segments generated record results, as the investments we’ve made in our business generated stronger results and an improving economy provided a better operating environment than we experienced in the past few years. Wealth management benefitted from the further expansion of our bank balance sheet and growth in our fee-based assets. Our institutional group’s record results were driven by record investment banking activity in both advisory and underwriting that more than offset an industry-wide slowdown in trading activity. The result of our record revenue coupled with solid expense management was record non-GAAP net income as well as return on common equity of nearly 18% in the fourth quarter. We believe that this level of operating leverage is indicative of our capabilities as Stifel is well positioned to capitalize on the current market tailwinds of the lower corporate U.S. tax rates and improved global economic growth,” stated Ronald J. Kruszewski, Chairman & CEO of Stifel.

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

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