LPL Investment Holdings Earnings Cheat Sheet: Sees Profit Move Up

LPL Investment Holdings (NASDAQ:LPLA) reported its results for the third quarter. LPL Investment provides brokerage and investment advisory services through business relationships with financial advisors, registered investment advisors, and financial institutions.

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LPL Investment Holdings Earnings Cheat Sheet for the Third Quarter

Results: Net income for the investment brokerage rose to $36.4 million (32 cents per share) vs. $26.1 million (26 cents per share) in the same quarter a year earlier. This marks a rise of 39.3% from the year earlier quarter.

Revenue: Revenue rose to $882.9 million last quarter.

Quoting Management: “Periods of market volatility underscore the value of financial advice and the trusted relationships our advisors share with their clients,” said Mark Casady, LPL Financial chairman and CEO. “Our performance this quarter illustrates the resiliency of our business model and our ability to produce strong results during challenging economic conditions. At LPL Financial our focus continues to be on providing the service and technology to support our advisors’ efforts so that they may remain focused on their clients’ needs. While client concern is elevated by current market volatility, we have not seen a material change in client behavior at this time.”

Key Stats:

The company beat estimates last quarter after being in line with expectations in the second quarter with net income of 50 cents per share.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 47 cents per share, down from 51 cents ninety days ago. For the fiscal year, the average estimate has moved down from $1.97 a share to $1.94 over the last ninety days.

Competitors to Watch: Raymond James Financial, Inc. (NYSE:RJF), Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), Citigroup (NYSE:C), JP Morgan (NYSE:JPM), Ameriprise Financial, Inc. (NYSE:AMP), The Charles Schwab Corp. (NYSE:SCHW), Morningstar, Inc. (NASDAQ:MORN), Financial Engines Inc (NASDAQ:FNGN), FXCM Inc (NYSE:FXCM), The Bank of New York Mellon Corp. (NYSE:BK), TD Ameritrade Holding Corp. (NASDAQ:AMTD), and optionsXpress Hldgs., Inc. (NASDAQ:OXPS).

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(Source: Xignite Financials)