RAYMOND JAMES FINANCIAL, INC. EARNINGS RELEASE FINANCIAL SUPPLEMENT
SECOND QUARTER
OF FISCAL 2022 RESULTS
RAYMOND JAMES FINANCIAL, INC. Consolidated Statements of Income (Unaudited)
in millions, except per share amounts
Revenues:
Asset management and related administrative fees Brokerage revenues:
Securities commissions Principal transactions Total brokerage revenues Account and service fees Investment banking Interest income Other (1)
Total revenues
Interest expense
Net revenues Non-interest expenses:
Compensation, commissions and benefits Non-compensation expenses:
Communications and information processing Occupancy and equipment
Business development Investment sub-advisory fees Professional fees
Bank loan provision/(benefit) for credit losses Losses on extinguishment of debt (2)
Acquisition-related expenses (3)
Other (1)
Total non-compensation expenses
Total non-interest expenses Pre-tax income
Provision for income taxes
Net income
Earnings per common share - basic (4) (5)
Earnings per common share - diluted (4) (5)
Weighted-average common shares outstanding - basic (5)
Weighted-average common and common equivalent shares outstanding - diluted (5)
Three months ended
March 31, 2021
June 30, 2021
September 30, 2021
$
1,173
$ 1,262 $
1,366
443
415
148
137
591
552
159
161
242
276
200
205
44
55
2,409
2,511
(37)
(40)
2,372 1,648
2,471 1,661
107
109
57
58
21
31
31
34
24
26
(32)
(19)
- -
98
7
69
81
277
425
1,925
2,086
447
385
92
78
$ $ $
355 1.72 1.68 206.7
$
307 $
$ 1.49 $
412
129
541
170
364
215
74
2,730
(35)
2,695 1,774
114
60
36
37
32
5 -
10
67
361
2,135
560
131
$ 1.45 $ 205.8
429 2.08 2.02 205.5
211.8
211.7
211.7
December 31, 2021
$
1,382
425
133
558
177
425
225
51
2,818
(37)
2,781 1,884
112
59
35
38
26
(11) -
6
74
339
2,223
558
112
$ $ $
446 2.16 2.10 206.3
212.4
% change fromMarch 31, 2022
March 31, 2021
December 31, 2021
Six months ended
March 31, 2021
March 31, 2022
$
1,464
25 %
6 % $
2,240
$
% change
2,846 27 %
422
(5)%
(1)%
824
847 3 %
142
(4)%
7 %
295
275 (7)%
564
(5)%
1 %
1,119
1,122 - %
179
13 %
1 %
304
356 17 %
235
(3)%
(45)%
503
660 31 %
242
21 %
8 %
403
467 16 %
27
(39)%
(47)%
100
78 (22)%
2,711
13 %
(4)%
4,669
5,529 18 %
(38)
3 %
3 %
(75)
(75) - %
2,673
13 %
(4)%
4,594 3,148
5,454 19 %
1,852
12 %
(2)%
3,736 19 %
127
19 %
13 %
206
239 16 %
62
9 %
5 %
114
121 6 %
34
62 %
(3)%
44
69 57 %
40
29 %
5 %
59
78 32 %
22
(8)% NM - % NM
(15)%
54
48 (11)%
21 -
NM - %
(18) -
10
NM
- - %
11
83 %
2
17 750 %
71
3 %
(4)%
139
145
4 %
388
40 %
14 %
600
727 21 %
2,240
16 %
1 %
3,748
4,463 19 %
433
(3)%
(22)%
846
991 17 %
110
20 %
(2)%
179
222 24 %
$
323
(9)%
(28)%
$ $ $
667 3.23 3.16 206.0
$
769 15 %
$ $
1.56 1.52 207.7
(9)% (10)%
(28)% (28)%
$ $
3.71 15 %
3.61 14 %
- %
1 %
207.0
- %
213.0
1 %
- %
210.6
212.6
1 %
As of
$ in millions, except per share amounts
Total assets
Total equity attributable to Raymond James Financial, Inc. Book value per share (5) (6)
Tangible book value per share (5) (6) (7)
Capital ratios:
Tier 1 capital Total capital Tier 1 leverage
March 31, 2021
June 30, 2021
September 30, 2021
December 31, 2021
% change fromMarch 31, 2022
March 31, 2021
December 31, 2021
$ $ $ $
56,066 7,592 36.89 32.94
$ $ $ $
57,161 7,863 38.28 34.36
$ $ $ $
61,891 8,245 40.08 36.11
$ $ $ $
68,461 8,600 41.45 37.55
$ $ $ $
73,101 8,602 41.38 36.46
30 %
7 %
13 %
- %
12 %
11 %
- % (3)%
23.6 % 24.7 % 12.2 %
24.4 % 25.6 % 12.6 %
25.0 % 26.2 % 12.6 %
25.9 % 27.0 % 12.1 %
23.9 % (8) 25.0 % (8) 11.1 % (8)
Three months ended
$ in millions
Adjusted pre-tax income (7)
Adjusted net income (7)
Adjusted earnings per common share - basic (4) (5) (7)
Adjusted earnings per common share - diluted (4) (5) (7)
Return on equity (9)
Adjusted return on equity (7) (9)
Return on tangible common equity (7) (9)
Adjusted return on tangible common
equity (7) (9)
Pre-tax margin (10)
Adjusted pre-tax margin (7) (10) Total compensation ratio (11) Effective tax rate
March 31, 2021
June 30, 2021
September 30, 2021
December 31, 2021
% change fromMarch 31, 2022
March 31, 2021
December 31, 2021
Six months ended
March 31, 2021
March 31, 2022
% change
NA $ NA $
490 386 1.88 1.82 15.9 % 19.9 % 17.7 %
$ $ $ $
570 437 2.12 2.06 21.3 % 21.7 % 23.7 %
$ $ $ $
564 451 2.18 2.12 21.2 % 21.4 % 23.4 %
$ $ $ $
444 331 1.59 1.55 15.0 % 15.4 % 16.8 %
(1)% (7)%
(21)% $ (27)% $
848 669 3.24 3.17
$ $ $ $
1,008 19 %
782 17 %
NA $
(8)%
(27)% $
3.77 16 %
NA $ 19.0 %
NA 21.2 %
(8)%
(27)% $
18.1 %
18.2 %
20.1 %
3.67 16 % 18.1 % 18.4 % 20.2 %
NA 18.8 %
22.2 %
24.1 %
23.7 %
17.2 %
20.2 %
20.6 %
15.6 %
20.8 %
20.1 %
16.2 %
18.4 %
18.2 %
NA 69.5 % 20.6 %
19.8 %
21.2 %
20.3 %
16.6 %
18.5 %
18.5 %
67.2 %
65.8 %
67.7 %
69.3 %
68.5 %
68.5 %
20.3 %
23.4 %
20.1 %
25.4 %
21.2 %
22.4 %
As of
March 31, 2021
Client asset metrics ($ in billions):
Client assets under administration (12)
Private Client Group assets under administration (12) Private Client Group assets in fee-based accounts (12) Financial assets under management
Clients' domestic cash sweep balances ($ in millions):
Raymond James Bank Deposit Program ("RJBDP"): (13)
Raymond James Bank
Third-party banks Subtotal RJBDP Client Interest Program
Total clients' domestic cash sweep balances
$ $ $ $
1,085.4 1,028.1
567.6 178.2
$
28,174
25,110
53,284
9,517
$
62,801
June 30, 2021
$ $ $ $
1,165.0 1,102.9
616.7 191.0
$
29,253
25,080
54,333
8,610
$
62,943
September 30, 2021
$ $ $ $
1,178.7 1,115.4
627.1 191.9
$
31,410
24,496
55,906
10,762
$
66,668
December 31, 2021
$ $ $ $
1,257.8 1,199.8
677.8 203.2
$
33,097
24,316
57,413
16,065
$
73,478
March 31, 2022
$ $ $ $
1,256.1 1,198.3
678.0 193.7
$
33,570
25,887
59,457
17,013
$
76,470
% change from
March 31, 2021
December 31, 2021
16 %
- %
17 %
- %
19 % 9 %
- % (5)%
19 %
1 %
3 %
6 %
12 %
4 %
79 %
6 %
22 %
4 %
Three months ended
March 31, 2021
June 30, 2021
September 30, 2021
December 31, 2021
March 31, 2022
Average yield on RJBDP - third-party banks (14)
Private Client Group financial advisors: Employees
Independent contractors
Total advisors (12)
0.30 %
0.29 %
0.29 %
0.28 %
0.32 %
As of
March 31, 2021
3,375 | 3,423 | 3,461 | 3,447 | 3,601 | 7 % | 4 % |
4,952 | 4,990 | 5,021 | 5,017 | 5,129 | 4 % | 2 % |
8,327 | 8,413 | 8,482 | 8,464 | 8,730 | 5 % | 3 % |
Six months ended
March 31, | March 31, |
2021 | 2022 |
0.31 % | 0.30 % |
% change from
June 30, 2021
September 30, 2021
December 31, 2021
March 31, 2022
March 31, 2021
December 31, 2021
RAYMOND JAMES FINANCIAL, INC.
Segment Results - Private Client Group (Unaudited)
$ in millions
Revenues:
Asset management and related administrative fees
Brokerage revenues:
Mutual and other fund products Insurance and annuity products
Equities, ETFs, and fixed income products Total brokerage revenues
Account and service fees:
Mutual fund and annuity service fees RJBDP fees: (13)
Third-party banks Raymond James Bank Client account and other fees
Total account and service fees Investment banking
Interest income
All other
Total revenues
Interest expense
Net revenues Non-interest expenses:
Financial advisor compensation and benefits Administrative compensation and benefits
Total compensation, commissions and benefits Non-compensation expenses
Total non-interest expenses
Pre-tax income
Three months ended
March 31, 2021
June 30, 2021
September 30, 2021
$
979
$
1,050
$
1,142
183 109 121 413
167 113 110 390
172 118 100 390
99
105
110
19
18
18
44
47
49
42
39
44
204
209
221
16
11
14
30
31
32
8
7
5
1,650
1,698
1,804
(3)
(2)
(3)
1,647
1,696
1,801
1,040
1,082
1,151
260
251
255
1,300
1,333
1,406
155
168
173
1,455
1,501
1,579
$
192
$
195
$
222
December 31, 2021
$
1,162
171 111 115 397
114
17
50
49
230
13
33
7
1,842
(3)
1,839
1,187
283
1,470
174
1,644
$
195
% change fromMarch 31, 2022
March 31, 2021
December 31, 2021
Six months ended
March 31, 2021
March 31, 2022
$
1,245
27 %
7 % $
1,864 $
2,407 29 %
% change
166 110 121 397
(9)%
(3)% (1)%
331 207 228 766
337 221 236 794
2 %
1 %
7 %
- % (4)%
5 %
4 %
- %
4 %
109
10 %
(4)%
193
223 16 %
20
5 %
18 %
40
37 (8)%
49
11 %
(2)%
87
99 14 %
53
26 %
8 %
74
102 38 %
231
13 %
- %
394
461 17 %
9
(44)%
(31)%
22
22 - %
37
23 %
12 %
60
70 17 %
6
(25)%
(14)%
13
13 - %
1,925
17 % - %
5 %
3,119
3,767 21 %
(3)
- %
(5)
(6) 20 %
1,922
17 %
5 %
3,114
3,761 21 %
1,231
18 %
4 %
1,971
2,418 23 %
289
11 %
2 %
509
572 12 %
1,520
17 %
3 %
2,480
2,990 21 %
189
22 %
9 %
302
363 20 %
1,709
17 %
4 %
2,782
3,353 21 %
$
213
11 %
9 % $
332 $
408 23 %
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Raymond James Financial Inc. published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 20:16:49 UTC.
