Yahoo Finance Raymond James Financial, Inc. (NYSE:RJF) Q2 2024 Earnings Call Transcript
Raymond James Financial, Inc. (NYSE:RJF) Q2 2024 Earnings Call Transcript April 24, 2024
Raymond James Financial, Inc. misses on earnings expectations. Reported EPS is $2.31 EPS, expectations were $2.32. Raymond James Financial, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Kristie Waugh: Good evening. And welcome to Raymond James Financial Fiscal 2024 Second Quarter Earnings Call. This call is being recorded, and will be available for replay on the company's Investor Relations website. I am Kristie Waugh, Senior Vice President of Investor Relations. Thank you for joining us today. With me on the call today are Paul Reilly, Chair and Chief Executive Officer, and Paul Shoukry, Chief Financial Officer. The presentation being reviewed today is available on Raymond James Investor Relations website. Following the prepared remarks, the operator will open the line for questions. Calling your attention to slide 2. Please note, certain statements made during this call may constitute forward-looking statements.
These statements include, but are not limited to, information concerning future strategic objectives, business prospects, financial results, industry or market conditions, anticipated timing and benefits of our acquisitions and our level of success integrating acquired businesses, anticipated results of litigation and regulatory developments and general economic conditions. In addition, words such as believes, expects, anticipates, intends, plans, estimates, projects, forecasts, and future or conditional verbs such as may, will, could, should and would, as well as any other statement that necessarily depends on future events are intended to identify forward-looking statements. Please note that there can be no assurance that actual results will not differ materially from those expressed in these statements.
We urge you to consider the risks described in our most recent Form 10-K and subsequent Forms 10-Q and Forms 8-K, which are available on our website. Now, I'm happy to turn the call over to Chair and CEO, Paul Reilly. Paul?
Paul Reilly: Thank you, Kristie. Good evening, everyone, and thank you for joining us today. Once again, we delivered strong results in the quarter. Highlighting our diversified platform, we generated record results for the fiscal second quarter and the first six months of the fiscal year. We continue to invest in our business, our people, and technology to help drive growth across all our businesses. Before discussing quarterly results, I want to highlight an important announcement made last month. Following a multi-year succession planning process, the board of directors appointed Paul Shoukry, our CFO, as President of Raymond James. And following a transition period, Paul is expected to become the firm's CEO sometime during the fiscal year 2025, becoming only the fourth chief executive in the company's 60-plus year history.
Paul has been an exceptional leader and a major contributor to Raymond James' steady growth and financial stability. I am confident he will continue to guide the firm with the same conservative, long-term approach and laser focus on our advisors and client-first culture that has helped shape our success over the many years. In addition, we're proud to announce that other key leadership appointments to take effect October 1, 2024. Private Client Group President, Scott Curtis, will become COO of Raymond James Financial, moving into the role following the retirement of Jeff Dowdle at the end of the fiscal year. Tash Elwyn, current Raymond James and Associate CEO, will become president of PCG. And Global Equities and Investment Banking President, Jim Bunn, will become President of the Capital Markets segment.
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