Jefferies Financial reports Q3 EPS $1.01, consensus 80c

Reports Q3 revenue $2.05B, two estimates $1.92B. “Net revenues of $2.05 billion for the third quarter reflect continued growth in our market position amid a strengthening environment for our services. Our Investment Banking Advisory business delivered record quarterly results, driven by increased market share, the continued realization of our ongoing investments in human capital around the globe, and an improvement in the environment for mergers and acquisitions and capital formation. This growth plus strong results in Equities and an improved performance in Asset Management, helped drive net earnings attributable to common shareholders of $224 million and return on adjusted tangible shareholders’ equity of 13.6%. We are encouraged by the rebound in global market sentiment and believe Jefferies is more strongly positioned than ever-with talent, global reach, product and service offerings, client relationships, joint venture partners and brand-to deliver exceptional long-term value to our clients and shareholders. While the world will remain volatile and full of challenges, we are increasingly optimistic about the near and long-term outlook for Jefferies” said Richard Handler, CEO, and Brian Friedman, President.