Jefferies posts record investment banking and equities revenues in third quarter

Jefferies Financial Group reported third-quarter net earnings attributable to common shareholders of $260.6 million, up from $224.0 million a year earlier, on total net revenues of $2.22 billion versus $2.05 billion in the same quarter last year.

Diluted earnings per voting common share were $1.08, compared with $1.01 a year ago, and return on adjusted tangible shareholders’ equity was 13.5% for the three months ended Aug 31, 2026.

Investment banking net revenues reached a quarterly record of $1.33 billion, led by record advisory fees of $817.8 million and strong equity underwriting of $305.5 million. Equities also posted a quarterly record of $626.2 million, lifting capital markets net revenues to $802.2 million. Fixed income was softer at $176.0 million, and asset management net revenues came in at $85.6 million.

“Record quarterly results in investment banking and equities,” said chief executive Richard Handler and president Brian Friedman, “offset by a more subdued market for fixed income and a more challenging backdrop for certain funds in our asset management business.”

The board declared a quarterly cash dividend of $0.40 per share, payable on Nov 25, 2026 to record holders on Nov 16. Jefferies repurchased 1.3 million shares for $70 million in the quarter at an average price of $52.34, and increased its buyback authorisation back to $250 million.