Jefferies Reports Preliminary Record Fiscal Third Quarter and Nine-Months 2014 Financial Results
September 02 2014 - 4:30PM
Business Wire
Jefferies Group LLC today announced preliminary financial
results for its fiscal third quarter 2014. Jefferies will release
final results for its third quarter 2014 on September 16, 2014.
These preliminary results are being released in advance of
Jefferies’ normal earnings release schedule in light of the
Leucadia Investor Meeting to be held tomorrow on September 3, 2014,
at 10:00 a.m.
Highlights estimated for the three months ended August 31,
2014:
- Total Net revenues of $835 million
- Pre-tax earnings of $132 million
- Net earnings of $82 million
- Record Investment Banking net revenues
of $461 million
- Equities net revenues of $163
million
- Fixed Income net revenues of $207
million
- Total Sales and Trading net revenues of
$370 million
Highlights estimated for the nine months ended August 31,
2014:
- Record Total Net revenues of $2,457
million
- Record Pre-tax earnings of $414
million
- Record Net earnings of $256
million
- Investment Banking net revenues of
$1,207 million
- Equities net revenues of $529
million
- Fixed Income net revenues of $711
million
- Total Sales and Trading net revenues of
$1,240 million
Richard B. Handler, Chairman and Chief Executive Officer, and
Brian P. Friedman, Chairman of the Executive Committee, commented:
“These preliminary results represent the best third quarter and the
best first nine-months Jefferies has achieved in our 50-year
history. Our third quarter performance was driven by an estimated
$461 million in Investment Banking net revenues. These record
preliminary investment banking results reflect solid contributions
from equity and debt capital markets, strong performance in our
merger and acquisition advisory business, and solid participation
across our industry groups and geographies. Our sales and trading
business preliminary results were also solid for the quarter and
are estimated at $370 million. We continue to expand our client
reach and believe we are gaining market share across the board as
we leverage our unique position as the largest non-bank,
full-service global investment banking firm based in the U.S. The
overall environment is reasonable, and our competitive position has
never been stronger.”
Actual fiscal third quarter 2014 results may differ from these
preliminary estimated results, either positively or negatively, in
connection with normal and customary quarterly closing processes
for valuations and revenue and expense accruals.
Jefferies, the global investment banking firm focused on serving
clients for over 50 years, is a leader in providing insight,
expertise and execution to investors, companies and governments.
The firm provides a full range of investment banking, sales,
trading, research and strategy across the spectrum of equities,
fixed income, foreign exchange, futures and commodities, as well as
wealth management in the Americas, Europe and Asia. Jefferies Group
LLC is a wholly-owned subsidiary of Leucadia National Corporation
(NYSE:LUK), a diversified holding company.
Jefferies Group LLCPeregrine C. Broadbent, 212-284-2238Chief
Financial Officer
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