Raymond James Financial Reports 16% Revenue Growth to $4.36 Billion in Q3 Fiscal 2026

Raymond James Financial, Inc. reported a strong financial performance for the third quarter of fiscal 2026, with net revenues reaching $4.36 billion, a 16% increase from $3.84 billion in the same period last year. The company's net income available to common shareholders was $595 million, up 37% from $436 million, resulting in earnings per diluted share of $3.01, a 42% increase compared to $2.12 in the prior year. For the nine months ended June 30, 2026, net revenues totaled $12.80 billion, an 11% rise from $11.72 billion, while net income increased to $1.70 billion from $1.53 billion.

The company experienced significant growth in asset management and related administrative fees, which rose to $2.08 billion for the quarter, up 19% year-over-year. This increase was attributed to higher client assets driven by market appreciation and new assets from financial advisor recruitment. Brokerage revenues also saw a boost, with total brokerage revenues increasing to $629 million, a 12% rise from the previous year. Investment banking revenues surged by 37% to $291 million, reflecting increased activity in mergers and acquisitions and debt underwriting.

Raymond James made strategic moves during the quarter, completing the acquisition of Clark Capital Management Group, which is expected to enhance its asset management capabilities. The acquisition added approximately $36 billion in financial assets under management. Additionally, the company acquired a majority stake in GreensLedge Holdings LLC, further expanding its investment banking services. These acquisitions contributed to a $761 million increase in goodwill and identifiable intangible assets on the balance sheet.

Operationally, the firm reported a total asset increase to $94.24 billion as of June 30, 2026, up from $88.23 billion at the end of the previous fiscal year. This growth was primarily driven by a $4.7 billion increase in bank loans, reflecting continued demand for securities-based and residential mortgage loans. The company also reported a 7% increase in total liabilities, primarily due to a $4.42 billion rise in bank deposits, which supported loan growth. The firm’s effective income tax rate for the nine months ended June 30, 2026, was 23.1%, slightly higher than the previous year’s rate of 22.8%.

Looking ahead, Raymond James remains optimistic about its growth trajectory, supported by strong capital and liquidity positions. The company plans to continue investing in growth opportunities while maintaining a disciplined approach to capital deployment. As of June 30, 2026, the firm had $2.52 billion in corporate cash and a tier 1 leverage ratio of 11.7%, indicating a solid financial foundation to navigate future market conditions.