Jefferies (JEF) reported $1.96 billion in revenue for the quarter ended November 2024, representing a year-over-year increase of 63.4%. EPS of $1.05 for the same period compares to $0.30 a year ago.
The reported revenue represents a surprise of +6.55% over the Zacks Consensus Estimate of $1.84 billion. With the consensus EPS estimate being $0.98, the EPS surprise was +7.14%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Jefferies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Revenues by Source- Total Asset Management Net revenues: $314.75 million versus the two-analyst average estimate of $148.25 million. The reported number represents a year-over-year change of +123.8%.
- Net Revenues by Source- Total Investment Banking and Capital Markets Net revenues: $1.64 billion compared to the $1.69 billion average estimate based on two analysts. The reported number represents a change of +54.9% year over year.
- Net Revenues by Source- Total Asset Management Net revenues- Investment return: $101.76 million versus the two-analyst average estimate of $36.30 million. The reported number represents a year-over-year change of +61.8%.
- Net Revenues by Source- Total Asset Management Net revenues- Allocated net interest: -$15.10 million versus -$16.02 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3.7% change.
- Net Revenues by Source- Total Capital Markets: $651.69 million versus $580.35 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +35.4% change.
- Net Revenues by Source- Total Capital Markets- Equities: $410.77 million compared to the $355.08 million average estimate based on two analysts. The reported number represents a change of +51.3% year over year.
- Net Revenues by Source- Total Capital Markets- Fixed income: $240.92 million versus the two-analyst average estimate of $225.27 million. The reported number represents a year-over-year change of +14.9%.
- Net Revenues by Source- Total Investment Banking- Total underwriting- Advisory: $596.71 million compared to the $623.64 million average estimate based on two analysts. The reported number represents a change of +91.1% year over year.
- Net Revenues by Source- Total Investment Banking- Other investment banking: $27.44 million compared to the $49.61 million average estimate based on two analysts. The reported number represents a change of +865.6% year over year.
- Net Revenues by Source- Total Investment Banking: $986.82 million compared to the $1.11 billion average estimate based on two analysts. The reported number represents a change of +71.1% year over year.
- Net Revenues by Source- Total Investment Banking- Total underwriting- Debt underwriting: $171.46 million versus $192.89 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +32.5% change.
- Net Revenues by Source- Total Investment Banking- Total underwriting- Equity underwriting: $191.22 million versus $239.43 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +44.7% change.
Shares of Jefferies have returned +1.5% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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