- Adjusted compensation expenses were $372 million, up from $316 million last year, maintaining an adjusted compensation expense ratio of 61.5%.
- Adjusted earnings per share were $2.14, up 75% compared to the same quarter last year.
- Adjusted effective tax rate was negative 0.8% compared to 31.2% last year, due to a policy change excluding stock-based compensation vesting impact.
- Adjusted non-compensation expenses increased to $94 million from $80 million, with a non-compensation expense ratio steady at 15.6%.
- Corporate Finance revenues were $399 million, a 21% increase over last year's first quarter, with 125 transactions closed versus 116 last year.
- Financial and Valuation Advisory revenues were $79 million, a 16% increase from the prior year, with 957 fee events versus 847 last year.
- Financial Restructuring revenues were $128 million, a 9% increase year-over-year, with 35 transactions closed compared to 33 last year.
- Houlihan Lokey reported revenues of $605 million for the first quarter of fiscal year 2026, an 18% increase year-over-year.
- Other income and expense produced income of approximately $8 million versus $5 million last year, driven by increased interest and other income from investment securities.
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- Balance sheet is strong with no secured debt maturing before 2028 and weighted average debt maturity of almost 8 years.
- Core community-based rental income increased 5.5% for the quarter and year-to-date.
- Core operating expenses were flat in the quarter, with expense growth 190 basis points lower than guidance.
- Core portfolio generated 6.4% NOI growth in the quarter, 70 basis points higher than guidance.
- Core RV and marina annual base rental income increased 3.7% in the quarter and 3.9% year-to-date.
- Membership business contributed $16 million net in the quarter and $31.4 million year-to-date.
- NOI increased 5% year-to-date compared to last year.
- Normalized per share FFO growth year-to-date is 5.7%.
- Seasonal rent decreased 5.6% and transient decreased 8.6% year-to-date.
- Second quarter normalized FFO was $0.69 per share, in line with midpoint guidance.
- Year-to-date expense growth was 70 basis points including insurance renewal impact.
- Allowance for loan losses increased slightly to $248.6 million, with a decrease in consumer loan allowance due to improved unemployment forecasts.
- First BanCorp reported net income of $80 million for 2Q 2025, with a return on assets of 1.69% and net interest margin expansion to 4.56%.
- Net interest income increased to $215.9 million, $3.5 million higher than last quarter, despite no fees from early loan cancellations this quarter.
- Nonperforming assets remained flat at 68 basis points of total assets; net charge-offs decreased to 60 basis points from 68 basis points in 1Q.
- Operating expenses were $123.3 million, stable quarter-over-quarter, with an efficiency ratio maintained at 50%.
- Tangible book value per share increased 5% to $11.16; tangible common equity ratio expanded to 9.6% due to $41 million increase in investment portfolio fair value.
- Total loans grew 6% linked quarter annualized, driven by strong commercial loan production in Puerto Rico and Florida.
- Europe accounted for $889 million or 76% of investment volume at a 7.3% weighted average initial cash yield, while U.S. investments totaled $282 million at a 7% yield.
- Net debt to annualized pro forma adjusted EBITDA was 5.5x, in line with the company’s leverage target.
- Portfolio occupancy ended at 98.6%, 10 basis points higher than the prior quarter and above the historical median of 98.2%.
- Realty Income invested $1.2 billion in Q2 2025 at a 7.2% weighted average initial cash yield, with acquisitions having a weighted average lease term of approximately 15.2 years.
- Rent recapture rate was 103.4% across 346 leases, generating $97 million of annual cash from prior rents.
- The company sold 73 properties for $117 million in net proceeds, with $100 million related to vacant properties.
- The company sourced $43 billion in investment opportunities in Q2, matching the total volume sourced in all of 2024 and marking the highest quarterly volume in its history.
- Horace Mann reported second quarter core earnings per share of $1.06, nearly tripling prior year results.
- Individual Supplemental and Group Benefits segment contributed $13 million to core earnings, with record Individual Supplemental sales up 43% year-over-year.
- Life and Retirement segment core earnings doubled to $25 million, driven by higher net investment income and lower mortality costs.
- Net premiums and contract charges earned increased by 8%, with total revenues up 6%.
- Property and Casualty segment core earnings improved by $25 million to $17 million, with a combined ratio of 97%, a 14.5-point improvement over prior year.
- Common stock repurchases doubled from Q2 to $6.1 billion, and dividend was increased.
- Credit quality improved with net loan charge-off ratio declining 9 basis points year-over-year and 4 basis points sequentially.
- Net income for Q3 2025 was $5.6 billion, up 9% year-over-year, with diluted earnings per share of $1.66.
- Net interest income increased $242 million (2%) from Q2, despite a 7 basis point decline in net interest margin due to growth in lower-yielding trading assets.
- Non-interest expense rose 6% year-over-year, driven by $296 million severance, higher revenue-related compensation, and increased technology and advertising spend.
- Non-interest income grew 9% year-over-year, led by wealth management and investment banking fee growth.
- Return on tangible common equity (ROTCE) improved to 15.2% in Q3, approaching the 15% target set in 2020.
- Revenue increased 5% from a year ago, driven by growth in net interest income and strong fee-based revenue.
Dafinchi