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LPL Financial Announces Fourth Quarter and Full Year 2024 Results
LPLALPL Financial(LPLA) GlobeNewswire·2025-01-30 21:07

Key Financial Results - For Q4 2024, the company reported a net income of 271million,translatingtodilutedearningspershare(EPS)of271 million, translating to diluted earnings per share (EPS) of 3.59, which is a 26% increase from Q4 2023 [4][8] - Adjusted EPS increased by 21% year-over-year to 4.25[4]−Grossprofitroseby224.25 [4] - Gross profit rose by 22% year-over-year to 1,228 million [4] - Total revenue for Q4 2024 was 3,512million,a133,512 million, a 13% increase from the previous quarter [23] Key Business Results - Total advisory and brokerage assets increased by 29% year-over-year to 1.7 trillion [4] - Advisory assets grew by 30% year-over-year to 957billion,representing55.0957 billion, representing 55.0% of total assets [4] - The company onboarded 63 billion of assets from Prudential in Q4 2024 [3][5] - Record recruited assets reached 79billion,including79 billion, including 63 billion from Prudential [4] Key Capital and Liquidity Results - Total client cash balances increased by 9billionsequentiallyto9 billion sequentially to 55 billion [4] - Corporate cash stood at 479million,withaleverageratioof1.89x[4]−Sharerepurchasesamountedto479 million, with a leverage ratio of 1.89x [4] - Share repurchases amounted to 100 million, and dividends paid were 23millioninQ42024[4]KeyUpdates−ThecompanycompletedtheacquisitionofAtriaandexpectstofinalizetheconversioninmid−2025[12]−InJanuary2025,thecompanyonboardedthewealthmanagementbusinessofWintrust,with23 million in Q4 2024 [4] Key Updates - The company completed the acquisition of Atria and expects to finalize the conversion in mid-2025 [12] - In January 2025, the company onboarded the wealth management business of Wintrust, with 16 billion of brokerage and advisory assets [5] - The company plans to slow the growth of Core G&A in 2025, with an outlook range of 1,560millionto1,560 million to 1,600 million, excluding Prudential and Atria [12]