Financial Data and Key Metrics Changes - The company reported record quarterly net revenues of $2.91 billion, an increase of 7% year-over-year and 1% sequentially [126] - Net income available to common shareholders grew to $369 million or $1.71 per diluted share, reflecting a 23% increase [4][20] - Annualized returns on common equity were 14.9% and annualized adjusted returns on tangible common equity were 19.7% [5] Business Line Data and Key Metrics Changes - The Private Client Group (PCG) generated record net revenues of $2.18 billion with pre-tax income of $411 million [125] - The Asset Management segment reported pre-tax income of $89 million on net revenues of $226 million, driven by higher assets and fee-based accounts [8] - The Capital Markets segment experienced a decline in revenues, generating $276 million with a pre-tax loss of $34 million, primarily due to lower investment banking revenues [22] Market Data and Key Metrics Changes - Domestic net new assets in the PCG were $14.4 billion, representing a 5.4% annualized growth rate [6] - Total client assets under administration reached $1.28 trillion, with PCG assets and fee-based accounts at $697 billion [122] - Total bank loans decreased by 1% to $43 billion, reflecting a modest decline in corporate loans [21] Company Strategy and Development Direction - The company aims to retain, support, and attract high-quality financial advisers to drive organic growth [6] - There is a focus on fortifying the balance sheet with diversified funding sources and prudently growing assets to support client demand [52] - The company is optimistic about the investment banking pipeline and expects improvement in the next six to twelve months [15][127] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate record earnings despite a challenging environment [35] - There is an expectation of continued pressure on capital markets revenues, but the company is well-positioned for growth once market conditions stabilize [36] - Management noted that while there are near-term challenges, the long-term outlook remains positive due to strong competitive positioning and ample capital [53] Other Important Information - The bank loan provision for credit losses was $54 million, reflecting weaker assumptions for commercial real estate valuations [12] - The company repurchased 3.31 million shares of common stock for $300 million during the fiscal third quarter [49] - The Tier 1 leverage ratio was 11.4%, significantly above regulatory requirements, indicating strong capital levels [48] Q&A Session Summary Question: What is the outlook for the balance sheet reinvestment strategy? - Management indicated that they are considering capitalizing on yield opportunities in loans as market conditions improve [37] Question: Can you provide an update on investment banking revenues? - Management expects investment banking revenues to remain in the $150 million range for the next couple of quarters, with potential for expense management to improve profitability [46] Question: How is the company addressing the recent decline in corporate loans? - Management noted that corporate loan growth has been tepid but believes the yield environment has improved, positioning the company to lend once activity picks up [17] Question: What is the status of the enhanced savings program (ESP)? - The ESP balances reached $58 billion, up 11% from the previous quarter, indicating strong client demand [26] Question: How does the company view the current M&A landscape? - Management is optimistic about M&A opportunities, noting that pricing has improved and they continue to engage with potential targets [101]

Fiscal 3Q23 Results July 26, 2023 Certain statements made in this presentation and the associated conference call may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products ...

Financial Position - As of March 31, 2023, total assets at fair value on a recurring basis amounted to $11,267 million, with $1,378 million in Level 1 assets and $10,038 million in Level 2 assets[27] - The company recorded total liabilities at fair value on a recurring basis of $1,153 million, with $241 million in Level 1 liabilities and $986 million in Level 2 liabilities[28] - The fair value of bank loans, net, was $42,952 million as of March 31, 2023, compared to $42,470 million as of September 30, 2022[47] - Total assets as of March 31, 2023, were $79,180 million, a slight decrease from $80,951 million as of September 30, 2022[212] Trading and Investment Assets - Total trading assets were reported at $993 million, including $970 million in total debt securities and $10 million in equity securities[27] - The company reported available-for-sale securities totaling $9,773 million, primarily consisting of agency mortgage-backed securities and U.S. Treasury securities[27] - The fair value of available-for-sale securities included $5,272 million in agency residential MBS, with unrealized losses of $520 million as of March 31, 2023[49] - The total fair value of other investments was $219 million, including $97 million in government and agency obligations[27] Derivative Instruments - Total derivative assets were valued at $91 million, with $9 million in Level 1 and $361 million in Level 2[27] - The company held derivative assets with a gross fair value of $370 million and derivative liabilities of $429 million as of March 31, 2023, with a notional amount of $20.733 billion[60] - The total net amounts presented on the Condensed Consolidated Statements of Financial Condition for derivative assets and liabilities were $91 million and $351 million, respectively[60] Loans and Credit Management - Total loans held for investment increased to $43,979 million as of March 31, 2023, compared to $43,498 million as of September 30, 2022, reflecting a growth of 1.1%[1] - The allowance for credit losses (ACL) as a percentage of total loans held for investment rose to 0.94% from 0.91% over the same period, indicating a slight increase in credit risk management[1] - The total past due loans held for investment amounted to $66 million as of March 31, 2023, with $4 million in 30-89 days past due and $62 million in nonaccrual status[3] - The company has no loans classified as "Loss," indicating effective credit management practices[3] Revenue and Income - Total revenues for the three months ended March 31, 2023, were $3.157 billion, compared to $2.173 billion in the same period of 2022, reflecting a 45.4% increase[175] - Non-interest revenues for Q1 2023 amounted to $2.242 billion, up from $2.056 billion in Q1 2022, indicating an increase of 9.1%[175] - Interest income for Q1 2023 was $915 million, up from $117 million in Q1 2022, representing a substantial increase of 681.2%[175] - Net income available to common shareholders for the three months ended March 31, 2023, was $425 million, up 31.5% from $323 million in the same period of 2022[203] Shareholder Returns - Dividends per common share declared increased to $0.42 in Q1 2023 from $0.34 in Q1 2022, representing a 23.5% increase[168] - The dividend payout ratio for Q1 2023 was 21.8%, a slight decrease from 22.4% in Q1 2022[169] - The total preferred stock dividends declared for the three months ended March 31, 2023, amounted to $2 million[164] Capital and Regulatory Compliance - RJF's Tier 1 capital as of March 31, 2023, was $8,903 million, with a ratio of 20.1%, exceeding the minimum requirement of 6.0%[193] - Total capital for RJF as of March 31, 2023, was $9,474 million, with a ratio of 21.4%, well above the minimum requirement of 8.0%[193] - The company increased its regulatory capital levels compared to September 30, 2022, driven by positive earnings, partially offset by dividends and share repurchases[194] Strategic Outlook - Future strategic objectives include enhancing digital capabilities and expanding market presence[221] - The company anticipates continued growth in earnings, projecting a positive outlook for the upcoming quarters[221] - New product offerings are in development, aimed at meeting evolving client needs and market demands[221] - The company is exploring potential acquisitions to bolster its service offerings and market reach[221]

Raymond James Financial, Inc. (NYSE:RJF) Q2 2023 Earnings Conference Call April 26, 2023 5:00 PM ET Company Participants Kristina Waugh - Senior Vice President, Investor Relations Paul Reilly - Chair and CEO Paul Shoukry - Chief Financial Officer Conference Call Participants Devin Ryan - JMP Securities Kyle Voigt - KBW Alexander Blostein - Goldman Sachs William Katz - Credit Suisse Manan Gosalia - Morgan Stanley James Mitchell - Seaport Global Brennan Hawken - UBS Operator Good afternoon, and welcome to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-9109 RAYMOND JAMES FINANCIAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Florida 59-1517485 88 ...

continued on next slide Reconciliation of non-GAAP financial measures to GAAP financial measures (unaudited) Impact on non-GAAP adjustments on average tangible common equity: Compensation, commissions and benefits — Acquisition-related retention (1) 6 9 9 Professional fees 1 1 — Other: Amortization of identifiable intangible assets (2) 4 5 5 Total "Other" expense 4 5 5 26 Note: Please refer to the footnotes on slide 27 for additional information. (2) Amortization of identifiable intangible assets, which was ...

Raymond James Financial, Inc. (NYSE:RJF) Q4 2022 Earnings Conference Call October 27, 2022 8:15 AM ET Company Participants Kristie Waugh - Senior Vice President, Investor Relations Paul Reilly - Chair and CEO Paul Shoukry - Chief Financial Officer Conference Call Participants Manan Gosalia - Morgan Stanley Gerry O'Hara - Jefferies Alex Blostein - Goldman Sachs Steven Chubak - Wolfe Research Jim Mitchell - Seaport Global Devin Ryan - JMP Securities Kyle Voigt - KBW Michael Kelly - Credit Suisse Operator Good ...

Fourth Quarter & Fiscal 2022 Results October 26, 2022 Forward-looking statements Certain statements made in this presentation and the associated conference call may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market con ...

Acquisitions - The acquisition of TriState Capital was completed on June 1, 2022, valued at $1.4 billion, integrating its banking and investment services into the company's segments [28]. - TriState Capital's acquisition included cash consideration of $359 million and the effective settlement of a $125 million note, treated as purchase consideration [31][35]. - The fair value of net identifiable assets acquired from TriState Capital was estimated at $879 million, resulting in goodwill of $529 million [35][36]. - The acquisition of Charles Stanley was completed on January 21, 2022, for £277 million ($376 million), enhancing the company's financial planning and investment advisory services in the U.K. [38]. - The fair value of net identifiable assets acquired from Charles Stanley was estimated at $212 million, resulting in goodwill of $164 million [40][41]. - The acquisition of SumRidge Partners on July 1, 2022, enhances the company's fixed income operations with additional trading technologies and risk management tools [58]. - The company acquired TriState Capital and Charles Stanley during the nine months ended June 30, 2022, resulting in goodwill and identifiable intangible assets [160]. Financial Performance - Net revenues for the three months ended June 30, 2022, were $2,782 million, an increase of 6.5% from $2,613 million in the same period of 2021 [57]. - Pre-tax income for the nine months ended June 30, 2022, was $1,575 million, up 26% from $1,252 million in the same period of 2021 [57]. - Total revenues for the three months ended June 30, 2022, were $2.778 billion, compared to $2.718 billion for the same period in 2021, reflecting a year-over-year increase [220]. - Non-interest revenues for the three months ended June 30, 2022, totaled $2.404 billion, compared to $2.404 billion for the same period in 2021, indicating stable performance [220]. - The overall financial performance reflects a robust growth trajectory across multiple revenue streams [222]. Assets and Liabilities - Total assets at fair value on a recurring basis as of June 30, 2022, amounted to $13,439 million [60]. - Total liabilities at fair value on a recurring basis as of June 30, 2022, were $537 million [60]. - The fair value of available-for-sale securities was $10,464 million, with $912 million classified as Level 1 assets [60]. - The total amount of collateral received that was available to be delivered or repledged increased to $3.830 billion as of June 30, 2022, from $3.429 billion in the previous year [113]. - The total amount of collateral posted under repurchase agreements was $437 million as of June 30, 2022, consistent with the previous year [109]. - As of June 30, 2022, total bank deposits increased to $49,887 million, up from $32,495 million as of September 30, 2021, reflecting a growth of approximately 53.8% [170][171]. Credit Quality and Allowance for Credit Losses - The allowance for credit losses increased to $377 million as of June 30, 2022, compared to $320 million as of September 30, 2021 [119]. - The allowance for credit losses on held for investment bank loans is being closely monitored, with specific attention to changes by portfolio segment [141]. - The total provision for credit losses for the nine months ended June 30, 2022, was $66 million [143]. - The initial provision for credit losses on non-PCD loans acquired with TriState Capital Bank was $26 million [143]. - The allowance for credit losses on loans to financial advisors was $29 million as of June 30, 2022, representing 2.51% of the loan portfolio [150]. Securities and Derivatives - The fair value of Level 3 trading assets decreased to $2 million by the end of the period, with total sales and distributions amounting to $49 million [65]. - The total gross fair value of derivatives as of June 30, 2022, was $387 million in assets and $437 million in liabilities, with a notional amount of $21.739 billion [93]. - The company’s derivative assets included $84 million in interest rate matched book derivatives and $288 million in other interest rate derivatives [93]. - The company recognized insignificant gains from the sales of available-for-sale securities during the three and nine months ended June 30, 2022, compared to proceeds of $450 million and $969 million in the same periods of 2021 [89]. Revenue Streams - Asset management and related administrative fees amounted to $1.427 billion for the three months ended June 30, 2022 [220]. - Brokerage revenues for the three months ended June 30, 2022, were $513 million, compared to $385 million for the same period in 2021, showing a significant increase [220]. - Investment banking revenues for the three months ended June 30, 2022, totaled $223 million, compared to $147 million for the same period in 2021, indicating strong growth [220]. Shareholder Actions - The company repurchased 1.14 million shares for $100 million at an average price of approximately $88 per share, with approximately $900 million remaining under the share repurchase authorization as of June 30, 2022 [211]. - Dividends per common share declared increased to $0.34 for the three months ended June 30, 2022, compared to $0.26 for the same period in 2021, representing a 30.8% increase [213]. - The company issued 1.61 million shares of Series A Preferred Stock with a liquidation preference of $1,000 per share, totaling $41 million as of June 30, 2022 [206].

Raymond James Financial, Inc. (NYSE:RJF) Q3 Results Conference Call July 28, 2022 8:15 AM ET Company Participants Kristie Waugh - SVP, IR Paul Reilly - Chairman & CEO Paul Shoukry - CFO Conference Call Participants Gerry O’Hara - Jefferies Steven Chubak - Wolfe Research Kyle Voigt - KBW Jim Mitchell - Seaport Research Devin Ryan - JMP Securities Manan Gosalia - Morgan Stanley Operator Good morning and welcome to Raymond James Financial’s Third Quarter Fiscal 2022 earnings call. This call is being recorded a ...