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Jefferies Financial Group Reports Better Than Expected Q3 Results


Jefferies Financial Group (NYSE: JEF) reported its Q3 results, with revenue coming in at $1.52 billion, compared to the Street estimate of $1.35 billion.
Quarterly EPS was $1.10, coming in better than the Street estimate of $0.64. The results included a $139 million pre-tax gain on the sale of Idaho Timber and excluding this, the “core” operating EPS was closer to $0.70.
Analysts at Oppenheimer provided their views on the company following the results, reiterating its Outperform rating. Against the analysts’ expectations, the $452 million in trading revenue beat by $54 million, and investment banking revenues of $682 million beat their $629 million estimate that was largely based on Dealogic data, likely suggesting strength with private market sponsors.









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