Raymond James posts record $3.01 EPS as revenue hits $3.93B

Raymond James Financial Inc. reported record fiscal third-quarter net revenue of $3.93 billion, up 16% from a year earlier, and diluted earnings per share of $3.01 that beat the $2.91 consensus estimate.

"The record results reflect continued momentum across our businesses, with strong client asset growth and robust loan demand driving revenue to new highs," Paul Reilly, chairman and CEO of Raymond James, said in a statement.

Net income available to common shareholders rose 42% to $595 million from $419 million a year earlier. Adjusted EPS came in at $3.14, also a record. Revenue topped the $3.86 billion consensus by about $70 million, while EPS exceeded the average analyst estimate by $0.10, or 3.4%.

The wealth manager posted record client assets under administration of $1.92 trillion, up 17% from June 2025 and 9% from March 2026. Private Client Group assets in fee-based accounts reached $1.15 trillion, up 22% year over year. Domestic net new assets totaled $21.7 billion for the quarter, representing annualized growth of 5.5% from beginning-of-quarter assets.

Net bank loans hit a record $56.2 billion, up 13% from a year earlier, driven by securities-based loans of $24.8 billion, which surged 34%. The annualized return on common equity reached 18.8%, while adjusted return on tangible common equity was 23.5%.

The record earnings and asset growth signal that Raymond James continues to capture market share in wealth management and banking despite a competitive hiring environment. Investors will watch the fiscal fourth-quarter results, expected in October, for signs of sustained momentum in advisor recruitment and fee-based asset accumulation.

This article is for informational purposes only and does not constitute investment advice.