Stifel(US:SF)2025-04-23 15:19Financial Highlights - The company achieved record first-quarter net revenue of $1,255 million[4] - GAAP net earnings were $44 million, with an EPS of $0.39[4] - Non-GAAP net earnings were $54 million, with an EPS of $0.49[4] - The company repurchased 2 million common shares[5] Global Wealth Management - Global Wealth Management net revenue reached $851 million, an increase of 8% year-over-year, but a decrease of 2% sequentially[8] - Asset Management revenue hit a record high[5] - Total Client Assets were $5,860.5 million, up 4% year-over-year, but down 3% sequentially[26] - Fee-based Client Assets were $3,969.9 million, up 7% year-over-year, but down 2% sequentially[26] - The company added 36 Financial Advisors from B Riley Financial[5] Institutional Group - Institutional Group net revenue was $385 million, a 10% increase year-over-year, but a 20% decrease sequentially[8, 41] - Advisory revenue was $137 million, up 15% year-over-year, but down 28% sequentially[41] - Equity revenue was $49 million, up 22% year-over-year, and up 2% sequentially[41] Expenses and Profitability - Total net revenue was $1,255 million, an 8% increase year-over-year, but an 8% decrease sequentially[8] - Compensation expense was $728 million, up 8% year-over-year, and down 8% sequentially[8] - Non-compensation expense was $259 million, up 3% year-over-year, and down 7% sequentially[8] - The company's pre-tax income was $256 million, up 15% year-over-year, but down 9% sequentially[8] - The company's tax rate was 16.4%[20]