Raymond James tops Q4 profit estimates as record revenue climbs 15%

Raymond James Financial Inc. (NYSE: RJF) reported record net revenues of $4.27 billion for its fiscal fourth quarter ended Sept. 30, 2026, the company said in an 8-K filed on Oct. 28.

Adjusted earnings of $3.59 per diluted share topped the $3.30 consensus estimate compiled by Finnhub. Revenue was in line with the $4.26 billion estimate from the same source.

Raymond James provides private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets were $1.94 trillion at the end of the quarter.

“We delivered our sixth consecutive year of record annual revenues and earnings, a testament to our resilient, diversified businesses anchored by our Private Client Group,” CEO Paul Shoukry said.

Here's how the company did:

• Revenue: $4.27 billion vs. $3.73 billion a year earlier
• Adjusted EPS: $3.59 vs. $3.30 expected, according to Finnhub
• GAAP diluted EPS: $3.40 vs. $2.95 a year earlier

Net income available to common shareholders was $666 million. Adjusted net income excluded $37 million of acquisition-related expenses, net of tax, and came to $703 million.

For the full fiscal year, net revenues were $15.79 billion, up 12%. Diluted EPS was a record $11.91, and adjusted diluted EPS of $12.41 rose 16% over fiscal 2025.

Segment results

The Private Client Group reported record quarterly net revenues of $3.06 billion, up 15% from a year earlier. Its pre-tax income was $458 million, up 10%.

Asset management and related administrative fees in the group rose 21% to $1.92 billion, the company said.

Capital Markets net revenues were $549 million, up 7%. Investment banking revenues were $361 million, up 17%.

Asset Management posted record quarterly net revenues of $409 million, up 30%. Pre-tax income was $170 million, up 29%. The company said the April 30, 2026 acquisition of Clark Capital Management Group contributed $36 billion of financial assets under management.

The Bank segment reported net revenues of $483 million, up 5%, and pre-tax income of $180 million, up 35%. Net bank loans were $57.5 billion, up 11% from September 2025.

Capital, buybacks and client assets

The company repurchased $1.25 billion of common stock during the fiscal year at an average price of $156 per share, including $50 million in the fourth quarter. As of Sept. 30, 2026, $1.05 billion remained under the Board of Directors’ approved repurchase authorization.

The total capital ratio was 24.2%, which the company called an estimate. Client assets under administration reached $1.94 trillion, up 12% from a year earlier.

Domestic Private Client Group net new assets were $98.3 billion for the fiscal year, up 88% from fiscal 2025, according to the release.