JEF posts mixed quarter
Jefferies reported revenue of $2.02B (+27% YoY) with investment‑banking up ~45% to $1.02B, but EPS came in at $0.70 after write‑downs. (x.com) The firm also authorized $250M in share buybacks and posted a ROATE of 10.9%, signaling capital returns despite the earnings miss. (x.com)
The results cover the quarter ended Feb. 28, 2026; net earnings attributable to common shareholders were $155.7 million and pre‑tax earnings from continuing operations were $212.216 million. (sec.gov) Jefferies recorded a $36 million non‑cash, after‑tax goodwill write‑down tied to the announced sale of Tessellis and reported $17 million of losses related to Market Financial Solutions and First Brands after compensation and tax adjustments. (sec.gov) The bank’s capital‑markets unit generated $778.756 million in net revenues while asset management produced $220.262 million, and book value per common share stood at $51.91 with adjusted tangible book value per fully diluted share at $34.24. (sec.gov) Management disclosed it repurchased 3.0 million shares for $174 million at an average price of $58.18 per share and the board declared a quarterly cash dividend of $0.40 per share payable May 29, 2026 to holders of record on May 18, 2026. (sec.gov) Separately, Western Alliance filed a $126.4 million lawsuit alleging breach of contract and fraud over a loan tied to First Brands, and Jefferies said the suit is without merit and will be defended vigorously. (money.usnews.com) News coverage flagged the $17 million of credit‑related losses as a material drag on quarterly results and highlighted that Jefferies’ investment in Market Financial Solutions and First Brands featured prominently in analysts’ scrutiny. (bloomberg.com)
