EarningsQ2 2026 Earnings Report
MX:LPLA Q2 2026 EPS Results
Actual EPS$106.84
Consensus EPS$98.66
Beat/MissBeat by +$8.18
One Year Ago EPS$82.51
MX:LPLA Q2 2026 Revenue Results
Actual Revenue$94.89B
Expected Revenue$92.14B
Beat/MissBeat by +$2.75B
YoY Revenue Growth+35.24%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:LPLA Upcoming Earnings
LPL Financial's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:LPLA Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed multiple strong operational and financial wins: record adjusted EPS, 10% sequential asset growth to $2.6 trillion, robust recruiting and a record recruiting pipeline, high retention (97%), cost discipline with lowered G&A outlook, progress on Commonwealth integration, active capital returns, and continued tech/AI investments. Counterbalancing items include integration risk (Commonwealth retention mid-80s), declining client cash balances and sweep economics under review, expected near-term payout increases and some expense items rising (TA amortization, promotional spend, D&A), and an unresolved pricing review amid competitive recruiting dynamics. Overall, the positive operational and financial highlights and clear progress on strategic initiatives materially outweigh the manageable integration and near-term margin pressures.Company Guidance
Total Client Assets Growth
Total client assets reached $2.6 trillion, up 10% sequentially (Q2 vs Q1), driven by organic growth and higher equity markets.
Organic Net New Assets and Recruiting Momentum
Attracted $23 billion of organic net new assets in Q2, representing a ~4% annualized growth rate; recruited assets improved to $25 billion with ~ $23B from traditional markets and ~$2B from expanded affiliation models; recruiting pipeline at record levels.
Record Adjusted EPS and Profitability
Reported record adjusted EPS of $5.84 and an adjusted pretax margin of approximately 39.3%; gross profit was $1.62 billion, up $26 million sequentially.
High Asset Retention
Overall asset retention was 97% for Q2 and over the last 12 months, indicating strong client stickiness and adviser experience improvements.
Commonwealth Integration Progress
Integration of Commonwealth progressing on schedule with onboarding of Commonwealth Advisors targeted for Q4; operational builds (householding, case management) nearing completion to enable conversion and platform benefits for all advisers.
Cost Discipline and Lowered G&A Outlook
Core G&A was $519 million in Q2, down $13 million sequentially and below the low end of outlook; management lowered full-year 2026 core G&A guidance to $2.14B–$2.165B reflecting efficiency gains.
Capital Deployment and Share Repurchases
Accelerated repurchases to $309 million in Q2 (vs. planned $125 million) due to share price dislocation; board approved a new $2.5 billion repurchase authorization with $300 million planned for Q3.
Technology and AI Investment
Invested nearly $2 billion over recent years in data, security, adviser tech and AI; launched unified platform 'Latitude' and AI agent 'Cyan' aimed at adviser productivity gains and workflow automation.
ICA Yield and Sweep Methodology Improvement
ICA yield was 36 basis points in Q2 (unchanged sequentially); management expects ICA yield to increase ~10 bps in Q3 from a shift to cash-balance tiering and ~20 bps on a run-rate basis once fully implemented.
Strategic M&A and Business Wins
Closed acquisition of Mariner Advisor Network and continue to progress Commonwealth transaction (estimated run-rate EBITDA of ~ $435 million when fully integrated).
MX:LPLA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed