Stifel Financial Corp. (NYSE:SF) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Stifel Financial Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 42.86% to $0.60 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Rose 29.78% to $498.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Stifel Financial Corp. reported adjusted EPS income of $0.60 per share. By that measure, the company beat the mean analyst estimate of $0.57. It beat the average revenue estimate of $485.27 million.
Quoting Management: “We are pleased to announce record revenues for the second quarter and for the first six months of 2013 in both the Global Wealth Management and the Institutional Group, especially against the challenging market conditions in the quarter. We are very encouraged with our investment banking results, which demonstrate the breadth of our capabilities. The merger with KBW continues to exceed our expectations, and we are gaining market share in the financial institutions space,” said Ronald J. Kruszewski, Chairman, President and CEO of Stifel.
Key Stats (on next page)…