Jefferies (JEF) Q2 Results Show Rebound in IB: Others to Follow? [Yahoo! Finance]
Jefferies Financial Group Inc. (JEF)
Last jefferies financial group inc. earnings: 10/25 04:42 pm
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Source: Yahoo! Finance
Looking at Jefferies ' JEF better-than-expected second-quarter fiscal 2024 results (which surged on the back of robust IB and underwriting fees), it can be said that IB business has finally rebounded. This also brightens prospects for the biggest U.S. banks. Before we dig deeper into what to expect from other firms, let's take a look at JEF's performance. In the second quarter of fiscal 2024, the company witnessed a 59% year-over-year jump in IB revenues. This was driven by higher advisory (up 12%), equity underwriting (up 68%) and debt underwriting (up 129%). The results, thus, show that demand for IB services is reviving after two years despite lingering geopolitical concerns and high interest rates, which put brakes on deal activity globally since 2022. Hence, JEF's large peers like JPMorgan JPM, Bank of America BAC and Citigroup C are also likely to post robust IB results. The top executives from these large Wall Street players indicated a healthy quarter for the IB busine
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JEF
Earnings
- 6/26/24 - Miss
JEF
Sec Filings
- 7/5/24 - Form 424B5
- 7/3/24 - Form 424B5
- 7/3/24 - Form 424B5
- JEF's page on the SEC website