Raymond James Financial Files Q3 2024 10-Q

TL;DR

RJF dropped its Q3 10-Q. Financials look solid.

AI Summary

Raymond James Financial, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial performance and condition, including details on revenue and receivables. The filing provides a comprehensive overview of the company's operations and financial health for the third quarter of fiscal year 2024.

Why It Matters

This filing provides investors and analysts with crucial financial data for Raymond James Financial, enabling informed decisions about the company's performance and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing from a well-established public company.

Key Numbers

• Q3 2024 — Fiscal Quarter (Reporting period for the 10-Q filing.)

Key Players & Entities

• RAYMOND JAMES FINANCIAL INC (company) — Filer
• 0000720005-24-000051 (filing_id) — Accession Number
• 20240630 (date) — Period of Report
• 20240806 (date) — Filed as of Date
• 880 CARILLON PKWY (address) — Business Address
• ST. PETERSBURG (city) — Business Address
• FL (state) — Business Address
• 33716 (zip_code) — Business Address
• 727-567-1000 (phone_number) — Business Phone

FAQ

Filing Documents

• rjf-20240630.htm (10-Q) — 6153KB
• ex3112024063010q.htm (EX-31.1) — 11KB
• ex3122024063010q.htm (EX-31.2) — 11KB
• ex322024063010q.htm (EX-32) — 9KB
• 0000720005-24-000051.txt ( ) — 28961KB
• rjf-20240630.xsd (EX-101.SCH) — 110KB
• rjf-20240630_cal.xml (EX-101.CAL) — 181KB
• rjf-20240630_def.xml (EX-101.DEF) — 657KB
• rjf-20240630_lab.xml (EX-101.LAB) — 1274KB
• rjf-20240630_pre.xml (EX-101.PRE) — 942KB
• rjf-20240630_htm.xml (XML) — 7483KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Statements of Financial Condition (Unaudited) 3 Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) 4 Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) 5 Condensed Consolidated Statements of Cash Flows (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) Note 1 - Organization and basis of presentation 8 Note 2 - Update of significant accounting policies 9 Note 3 - Fair value 10 Note 4 - Available-for-sale securities 16 Note 5 - Derivative assets and derivative liabilities 19 Note 6 - Collateralized agreements and financings 21 Note 7 - Bank loans, net 23 Note 8 - Loans to financial advisors, net 30 Note 9 - Variable interest entities 30 Note 10 - Goodwill and identifiable intangible assets, net 31 Note 11 - Other assets 32 Note 12 - Leases 32 Note 13 - Bank deposits 33 Note 14 - Other borrowings 34 Note 15 - Income taxes 35 Note 16 - Commitments, contingencies and guarantees 35 Note 17 - Shareholders' equity 38 Note 18 - Revenues 41 Note 19 - Interest income and interest expense 45 Note 20 - Share-based compensation 45 Note 21 - Regulatory capital requirements 46 Note 22 - Earnings per share 49 Note 23 - Segment information 50

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 52

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 97

Controls and Procedures

Item 4. Controls and Procedures 97

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 98

Risk Factors

Item 1A. Risk Factors 98

Unregistered Sales of Equity Securities and Use of Proceeds 98

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 98

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 98

Mine Safety Disclosures 99

Item 4. Mine Safety Disclosures 99

Other Information

Item 5. Other Information 99

Exhibits

Item 6. Exhibits 99

Signatures

Signatures 100 2 Index

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) $ in millions, except per share amounts June 30, 2024 September 30, 2023 Assets: Cash and cash equivalents $ 9,095 $ 9,313 Assets segregated for regulatory purposes and restricted cash 3,641 3,235 Collateralized agreements 570 418 Financial instruments, at fair value: Trading assets ( $ 1,200 and $ 1,062 pledged as collateral) 1,472 1,187 Available-for-sale securities ( $ 11 and $ 22 pledged as collateral) 8,530 9,181 Derivative assets 85 265 Other investments ( $ 6 and $ 7 pledged as collateral) 333 306 Brokerage client receivables, net 2,798 2,525 Other receivables, net 1,933 1,608 Bank loans, net 45,149 43,775 Loans to financial advisors, net 1,258 1,136 Deferred income taxes, net 658 711 Goodwill and identifiable intangible assets, net 1,884 1,907 Other assets 3,222 2,793 Total assets $ 80,628 $ 78,360 Liabilities and shareholders' equity: Bank deposits $ 54,401 $ 54,199 Collateralized financings 1,154 337 Financial instrument liabilities, at fair value: Trading liabilities 891 716 Derivative liabilities 354 490 Brokerage client payables 5,489 5,447 Accrued compensation, commissions and benefits 1,977 1,914 Other payables 2,084 1,931 Other borrowings 1,049 1,100 Senior notes payable 2,039 2,039 Total liabilities 69,438 68,173 Commitments and contingencies (see Note 16) Shareholders' equity Preferred stock 79 79 Common stock; $ .01 par value; 650,000,000 shares authorized; 249,886,619 shares issued and 205,573,733 shares outstanding as of June 30, 2024; 248,728,805 shares issued and 208,769,095 shares outstanding as of September 30, 2023 2 2 Additional paid-in capital 3,221 3,143 Retained earnings 11,385 10,213 Treasury stock, at cost; 44,312,886 and 39,959,710 common shares as of June 30, 2024 and September 30, 2023, respectively ( 2,773 ) ( 2,252 ) Accumulated other c

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View this 10-Q filing on SEC EDGAR