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Get filing alertsJefferies reports record Q2 investment banking and equities revenues, $1.02 EPS, 12.8% ROAE
Filed June 24, 2026 · Period ending June 24, 2026 · ~1 min read
Key Changes
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Investment banking revenues hit quarterly record $1.21B, up 57% year-over-year, driven by market share gains in advisory (record $674M, +47%) and equity underwriting ($531M, +62%) with no single outsized fee.
Exhibit 99 view on EDGAR → -
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Equities revenues reached quarterly record $601M, up 14%, driven by market share gains in cash and electronic trading globally and expansion in prime services with major hedge funds.
Exhibit 99 view on EDGAR → -
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Q2 net earnings $226M ($1.02 per share) vs. $88M ($0.40) prior year; return on adjusted tangible equity improved to 12.8% from 5.5%; total net revenues $2.21B vs. $1.63B.
Exhibit 99 view on EDGAR → -
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Board declared $0.40 quarterly dividend payable August 28 to shareholders of record August 18; repurchased 4.0M shares for $197M at $49.83 average; buyback authorization increased to $250M.
Exhibit 99 view on EDGAR → -
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Asset management revenues declined 35% to $46M due to weaker fund performance and capital reallocation ahead of Hildene acquisition, targeted to close in Q3 2026 and expected to be immediately accretive.
Exhibit 99 view on EDGAR →
Summary
Jefferies delivered a strong Q2 2026 with record investment banking and equities revenues driving net earnings of $226 million ($1.02 per share), more than double the prior year quarter. Return on adjusted tangible equity improved to 12.8% from 5.5%.
Investment banking revenues reached a quarterly record $1.21 billion, up 57%, with balanced growth across advisory (record $674 million) and equity underwriting ($531 million) driven by market share gains and increased deal volumes. Equities also hit a quarterly record at $601 million, up 14%, reflecting global market share gains in cash and electronic trading plus expansion in prime services.
The Board declared a $0.40 quarterly dividend and the company repurchased 4.0 million shares for $197 million during the quarter at an average price of $49.83. The buyback authorization was increased back to $250 million. Asset management revenues declined 35% to $46 million as the firm repositioned capital ahead of the planned Hildene acquisition, targeted to close in Q3 2026 and expected to be immediately accretive. The results demonstrate continued momentum in core capital markets businesses with improving returns on equity.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 7, 2026 · How we verify