Message Font: Serif | Sans-Serif
 
No. of Recommendations: 4
Jefferies released their first quarter results this morning. They reported GAAP EPS of $0.14 and revenue of $1.05B (-3.7% Y/Y). I'm told that revenue number beat the analyst guesses by $40M.

Press Release:

https://seekingalpha.com/pr/17457916-jefferies-announces-fir...

Highlights for the three months ended February 28, 2019:

Net income attributable to Jefferies Financial Group common shareholders of $45 million, or $0.14 per diluted share
Pre-tax income of $49 million

Jefferies Group (Investment Banking, Capital Markets and Asset Management) pre-tax income of $63 million
Total Net Revenues of $686 million
Total Equities and Fixed Income Net Revenues of $371 million
Investment Banking Net Revenues of $278 million, below-normal due to the impact of market conditions in December and the shutdown of the U.S. Government in December and January
Asset Management Revenues (before Allocated net interest1) of $39 million

Merchant Banking pre-tax income of $20 million
Pre-tax income of $27 million from National Beef
Mark-to-market gain of $36 million on Spectrum Brands
Pre-tax loss of $16 million in respect of Vitesse (VTSS), reflecting an unrealized mark-to-market decrease in the value of our oil hedge portfolio of $25 million as a result of the higher oil price at the end of the period (retracing part of the $48 million gain recorded in the fourth quarter); excluding this impact, Vitesse's adjusted pre-tax income2 was $10 million.

Repurchase of 9.6 million shares for $195 million, or an average price of $20.28 per share
Jefferies Financial Group had parent company liquidity of $1.5 billion at February 28, 2019


Greg
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.