Stifel Financial Reports Lower Net Profit In Q2, Reaffirms FY25 Outlook

(RTTNews) - Stifel Financial Corp. (SF), on Wednesday, reported a decline in second quarter net income, despite an increase in revenue compared to the same quarter last year. The company said non-interest expenses such as compensation and benefits, as well as non-compensation operating expenses were higher than the prior year. Provision for credit losses zoomed for the period. Net income declined to $145.7 million, from $156.0 million a year earlier.

Earnings per share were $1.34, down from $1.41 last year.

Net revenue surged to $1.28 billion from $1.22 billion in the same quarter last year.

Analysts had expected quarterly earnings of $1.61 per share, excluding special items.

Interest income fell to $477.1 million from $498.2 million a year ago. Interest expenses were $206.8 million, down from $247.3 million in the prior year.

Net interest income rose to $254.1 million, up from $236.3 million last year.

Provision for credit losses widened to $8.3 million from $3.0 million a year ago.

Stifel's management reaffirmed its 2025 outlook, with 9 percent increase, year over year, to $516.5 billion. Positive trends in wealth and institutional segments supported full-year guidance

Currently, the stock is up 4.22% or $4.65, and trading at $114.74