Jefferies Group Earnings: Best 9 Months in Firm History

Jefferies Group Inc. (NYSE:JEF) reported net income above Wall Street’s expectations for the third quarter. Jefferies Group and its subsidiaries operate as independent, full-service global securities and investment banking firm serving companies and their investors.

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Jefferies Group Inc. Earnings Cheat Sheet

Results: Net income for Jefferies Group Inc. rose to $70.2 million (31 cents per share) vs. $68.3 million (30 cents per share) in the same quarter a year earlier. This marks a rise of 2.8% from the year-earlier quarter.

Revenue: Rose 45.1% to $738.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Jefferies Group Inc. reported adjusted net income of 32 cents per share. By that measure, the company beat the mean estimate of 24 cents per share. It beat the average revenue estimate of $681.3 million.

Quoting Management: “Despite a turbulent and often treacherous environment, we have just finished the best nine-month period in our firm’s history,” Chief Executive Richard Handler said. “Our equity base of $3.7 billion has never been more robust, and our balance sheet and liquidity have never been stronger.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the second quarter, by 4 cents in the first quarter, and by 3 cents in the fourth quarter of the last fiscal year.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 36 cents a share to 30 cents over the last ninety days. Over the past sixty days, the average estimate for the fiscal year has reached $1.15 per share, a decline from $1.32.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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