Earnings Call
Apr 22, 2026
Q1 FY2026
EPS Estimate
2.76
EPS Actual
2.86
Post-Earnings Close
$153.41
Earnings Reaction
-0.7%
Raymond James posted record net revenues of $3.7 billion for fiscal Q1 2026, with GAAP EPS of $2.79 and adjusted EPS of $2.86, modestly ahead of the $2.76 consensus estimate. The adjusted pretax margin hit the firm's 20% target despite meaningful headwinds from 125 basis points of Fed rate cuts since early November 2024 and a weak quarter for Capital Markets, a combination that would have pressured a less diversified franchise considerably more. The result underscores the resilience of Raymond James's business mix, where record Asset Management revenues of $326 million and record Bank segment pretax income of $173 million helped absorb the drag from lower interest-sensitive revenues in the Private Client Group and a cyclically soft investment banking quarter.
Report generated on Apr 21, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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