Jefferies Financial Group reported third-quarter fiscal 2026 net revenues of $2.22 billion, up 9% year over year, with net earnings attributable to common shareholders rising to $260.6 million from $224 million a year ago, as record Investment Banking and Equities results offset weakness in Asset Management and Fixed Income. Investment Banking net revenues increased 17% to a record $1.33 billion, including record advisory revenues of $817.8 million, up 25%, equity underwriting revenues up 69% to $305.5 million, and debt underwriting revenues down 21% to $519.1 million, while Equities revenues jumped 29% to a record $626.2 million. For the first nine months of fiscal 2026, net revenues rose 22% to $6.45 billion and net earnings attributable to common shareholders rose 45% to $639.7 million, with Investment Banking net revenues up 37% to a record $3.56 billion and Equities revenues up 26% to a record $1.79 billion, bringing combined Investment Banking and Capital Markets revenues to a record $5.94 billion, up 26%. Asset Management was the clearest weakness, with third-quarter net revenues plunging 52% to $85.6 million as fees and investment return revenues fell to $33.8 million from $83.9 million on muted performance across several fund strategies including Point Bonita, while Fixed Income revenues fell 26% to $176 million. The company is repositioning its Asset Management platform by reducing capital allocated to certain existing funds, alongside the planned sale of Tessellis and continued wind-down of legacy merchant banking investments.
Citigroup Inc.
JPMorgan Chase & CoJefferies Financial Group IncQ3 net revenues rose 9% to $2.22B with record Investment Banking and Equities results lifting earnings to $260.6M
Jefferies plans to sell Tessellis as part of repositioning its Asset Management platform
