EarningsQ3 2026 Earnings Report
MX:RJF Q3 2026 EPS Results
Actual EPS$56.75
Consensus EPS$52.90
Beat/MissBeat by +$3.85
One Year Ago EPS$39.40
MX:RJF Q3 2026 Revenue Results
Actual Revenue$78.84B
Expected Revenue$69.96B
Beat/MissBeat by +$8.87B
YoY Revenue Growth+11.82%
Earnings Announcement Details
QuarterQ3 2026
Date07/22/2026
TimeAfter Close
Conference CallWednesday, July 22, 2026
MX:RJF Upcoming Earnings
Raymond James Financial's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:RJF Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple record-breaking financial and operational achievements — including record quarterly revenues, pretax income, EPS, strong recruiting, sizable net new assets, significant AI adoption and a completed strategic acquisition — while acknowledging near-term headwinds in capital markets activity, elevated legal/professional expenses tied to industry litigation, and some margin noise related to acquisitions and deposit mix. On balance, the positive growth, strong margins, healthy returns, robust adviser recruiting pipeline, and proactive technology investments materially outweigh the challenges, which management positions as manageable or transitory.Company Guidance
Record Quarterly and YTD Financial Results
Net revenues of $3.93 billion (record quarter), up 16% year-over-year and 2% sequentially; pretax income of $750 million, up 33% year-over-year and 2% sequentially; net income available to common shareholders $595 million with record diluted EPS of $3.01; adjusted net income $620 million and adjusted EPS $3.14 (record).
Strong Returns and Margins
Pretax margin of 19.1% and adjusted pretax margin of 19.9% (in line with ~20% guidance); annualized return on common equity 18.8% and annualized adjusted return on tangible common equity 23.5%.
Private Client Group (PCG) Asset Growth
Record PCG assets under administration $1.86 trillion, up 9% sequentially and 18% year-over-year; record PCG fee-based assets $1.15 trillion, up 11% sequentially and 22% year-over-year.
Exceptional Net New Asset and Recruiting Momentum
Domestic net new assets $21.7 billion in the fiscal third quarter (5.5% annualized growth rate for the quarter); fiscal year-to-date net new assets of approximately $75 billion, up 119% year-over-year; quarter recruiting included advisers with trailing 12-month production of $156 million and nearly $23 billion of client assets, and YTD recruiting with trailing 12-month production of $393 million and over $56 billion of client assets.
AI and Technology Investment and Adoption
Completed enterprise rollout of proprietary AI assistant 'Raymond' (pilot to full rollout), with ~6,500 unique users and 99.5% satisfaction shortly after launch; launched an AI Academy with nearly 20,000 employees completing the 4-course module; company guidance for continued technology investment of more than $1.1 billion annually.
Strategic Acquisition Strengthening Asset Management
Completed acquisition of Clark Capital (April 30), adding approximately $47 billion in combined AUM and nondiscretionary assets and contributing immediately to Asset Management revenue and inflows.
Bank and Lending Growth
Record bank loans of $56.2 billion, up 13% year-over-year and 3% sequentially; securities-based lending balances increased by more than $6 billion (34% year-over-year) and 8% sequentially; bank segment pretax income a record $206 million.
Asset Management Fee Growth and Outlook
Asset management and related administrative fees of $2.08 billion, up 20% year-over-year and 3% sequentially; management expects ~11% increase in asset management and related administrative fees in fiscal Q4 driven by higher PCG assets and fee-based accounts.
Shareholder Capital Return and Healthy Capital Ratios
Repurchased ~$400 million of common stock in the quarter and ~$1.6 billion over the past 12 months; returned nearly $2 billion to common shareholders over 12 months (~86% of earnings); Tier 1 leverage ratio 11.7% with ~ $1.5 billion excess capital capacity before reaching conservative target.
MX:RJF 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