- Stifel reported record net revenue of over $1.4 billion in Q3 2025, surpassing previous records.
- Client assets reached a record high of $544 billion, driven by market appreciation and asset growth.
- The firm’s third highest EPS in history was achieved at $1.95, indicating strong profitability.
- Both wealth management and institutional segments contributed to the record results, with wealth representing 64% of revenue.
- Management emphasized the importance of diversified business model in achieving these milestones.
- The company highlighted that Q3 revenue exceeded total annual revenue of 2011, illustrating long-term growth.
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- Advisers segment posted highest year-over-year revenue growth, supported by market appreciation and integrated cash program.
- Institutional revenue and operating profit were flat, impacted by lower equity exposure and less market appreciation benefit.
- Margins improved meaningfully year-over-year and sequentially, with IMS margins exceeding prior guidance.
- Net sales events totaled $31 million, led by investment managers segment (IMS) with a record sales quarter.
- Private banking revenue increased 4% year-over-year, driven by growth on the SWP platform.
- Q3 2025 EPS reached 1.3¢, an all-time high excluding one-time items, with 8% sequential and 17% year-over-year growth.
- SEI ended the quarter with $793 million cash, no net debt, and repurchased $142 million in shares during Q3.
- Credit quality remained strong with nonperforming loans decreasing and charge-offs stable compared to prior quarters.
- Deposits grew by nearly $900 million to almost $57 billion, maintaining pace with loan growth.
- Net income reached a record $216 million, up nearly 11% quarter-over-quarter from $195 million.
- Net interest income increased by $20 million to $567 million, driven by strong loan and balance sheet growth.
- Net interest margin was stable at 3.5%, within the targeted range despite a slight decline from the prior quarter.
- Non-interest expenses slightly declined to $380 million, improving efficiency and overhead ratios.
- Non-interest income rose by $6.7 million to $130.8 million, supported by wealth management, mortgage revenue, and security gains.
- Total loans grew by over $1 billion in the quarter, reaching $52 billion, an 11% annualized increase year-to-date.
- Adjusted EPS was $4.51, a 16% increase year-over-year.
- Client cash revenue was $414 million, up $5 million from Q1; client cash balances ended at $51 billion, down $2 billion sequentially.
- Commission and advisory fees net of payout were $349 million, down $14 million from Q1.
- Core G&A expenses were $426 million, below outlook range; full year 2025 outlook lowered to $1.720 billion to $1.750 billion excluding deals.
- Corporate cash ended Q2 at $3.6 billion, up $3 billion from Q1 due to capital raises; expected to decrease post-Commonwealth close.
- Depreciation and amortization were $96 million, up $4 million sequentially; expected to increase by $5 million in Q3.
- Gross profit was $1.304 billion, up $32 million sequentially.
- ICA yield was 342 basis points, up 5 basis points from Q1; expected to be flat in Q3.
- Including Commonwealth, new core G&A outlook is $1.880 billion to $1.920 billion.
- Interest expense was $102 million, up $22 million sequentially due to April debt issuance; expected to increase by $5 million in Q3.
- Leverage ratio was 1.23x at end of Q2; expected to be 2.25x post-close with a path to 2x by end of 2026.
- Organic net new assets were $21 billion, representing a 5% annualized growth rate.
- Payout rate was 87.3%, up approximately 60 basis points from Q1, with an expected increase to 87.6% in Q3.
- Promotional expense was $164 million, up $12 million from Q1; expected to increase by $35 million in Q3.
- Service and fee revenue was $152 million, up $7 million from Q1; expected to increase by $20 million in Q3.
- Tax rate was approximately 26% in Q2; expected around 27% in Q3.
- Total assets increased to a record $1.9 trillion in Q2, driven by solid organic growth and higher equity markets.
- Transaction revenue was $61 million, down $7 million sequentially; expected to increase by $5 million in Q3.
- Adjusted EBITDA grew 5%, exceeding the top end of the outlook, with margins improving 200 basis points sequentially.
- Adjusted EPS was $1.36, meeting expectations despite higher depreciation and amortization expenses.
- Banking EBITDA margin contracted 70 basis points due to an $8 million bad debt charge; Capital Markets margin contracted 50 basis points due to acquisition-related dilution.
- Banking revenue grew 6%, above the high end of guidance, driven by commercial excellence and strong client retention.
- Capital Markets revenue grew 5%, slightly below expectations due to temporary slowdown in loan syndication activity.
- FIS delivered 5% revenue growth in Q2 2025, accelerating from 4% in Q1, driven primarily by momentum in the Banking segment.
- Free cash flow was $292 million with a cash conversion rate of 52% in Q2, and 61% year-to-date, improving from 53% prior year.
- Leverage increased modestly to 3x, or 2.9x excluding currency impacts, with a long-term target of 2.8x.
- Recurring revenue represented 81% of total revenue, growing 6% overall with 7% growth in Banking recurring revenue.
- Assets exceeded $12 billion and loans surpassed $8 billion, both reaching record levels.
- Loan origination increased by 38% from the previous quarter and 33% year-over-year, driven by all lending channels in Puerto Rico and the U.S.
- The company expects full-year loan growth to be revised upward to 5-6%, from previous guidance of 3-4%.
- Adjusted EBITDA for Q2 was $76.3 million, down 12.5% year-over-year, with an adjusted EBITDA margin of 35%, the second highest quarterly margin in company history despite a 90 basis point decrease from last year.
- Capital Markets Compliance and Communications Management segment net sales declined 17.8% to $93.5 million due to lower transactional revenue and print volume.
- Donnelley Financial Solutions reported second quarter 2025 net sales of $218.1 million, a 10.1% decrease from Q2 2024, driven by declines in Compliance and Communications Management segments and capital markets transactional revenue.
- Donnelley Financial Solutions reported second quarter 2025 total net sales of $218.1 million, a 10.1% decrease from Q2 2024, driven by declines in Compliance and Communications Management segments and capital markets transactional revenue.
- Free cash flow was $51.7 million, $14.9 million higher than Q2 2024, driven by favorable working capital and lower capital expenditures despite lower adjusted EBITDA.
- Free cash flow was $51.7 million, up $14.9 million year-over-year, driven by favorable working capital and lower capital expenditures despite lower adjusted EBITDA.
- Investment Companies Compliance and Communications Management segment net sales decreased 25.2% to $32.4 million, primarily due to lower print and distribution volume impacted by regulatory changes.
- Investment Company Software Solutions segment net sales increased 17% to $33.1 million, driven by Tailored Shareholder Report solution revenue.
- Non-GAAP net leverage ratio was 0.7x as of June 30, 2025, with total debt at $190.1 million and $77 million drawn on the revolver.
- Non-GAAP net leverage ratio was 0.7x with total debt at $190.1 million and $156.3 million non-GAAP net debt as of June 30, 2025.
- Print and distribution net sales declined by approximately $14 million or 26%, primarily due to lower proxy statement and annual report volumes and the impact of the Tailored Shareholder Reports regulation.
- Segment results showed Capital Markets Software Solutions net sales increased 3.1% to $59.1 million, led by ActiveDisclosure's 11% growth, while Venue revenue was nearly flat but down 1% year-over-year.
- Software solutions net sales grew approximately 8% year-over-year, including 15% growth in recurring compliance software offerings, making up 42.3% of total net sales, up 700 basis points from last year.
- The company repurchased approximately 787,000 shares for $34.3 million in Q2, with a new $150 million share repurchase authorization effective May 16, 2025.
- Asset quality remained excellent with net charge-offs increasing due to fully reserved credits; provision for credit losses was stable.
- Capital markets revenue improved 51% quarter-over-quarter to $10 million, though still below historical run rates.
- Net interest income increased to $62 million, driven by margin expansion and strong loan growth.
- Net interest margin (NIM) increased by 4 basis points to the high end of guidance, expanding 21 basis points over the past 5 quarters.
- Noninterest expenses were well controlled at $49.6 million, slightly below guidance, supporting an adjusted ROAA of 1.29%.
- QCR Holdings delivered strong second quarter earnings with a 13% EPS improvement over the first quarter.
- Tangible book value per share grew by $1.64, reflecting 13% annualized growth for the quarter.
- Tangible common equity to tangible assets ratio rose to 9.92%, and CET1 ratio increased to 10.43%, driven by strong earnings and consistent AOCI.
- Average base rent per leased square foot grew 5.3% year-over-year to $25.28.
- Bad debt for the quarter was just under 1% of revenues, consistent with prior year and within forecasted range.
- Debt-to-EBITDAre improved to 7.2x from 7.8x a year ago, with an expected year-end target of about 7x.
- G&A and interest expenses were reduced by about 6% compared to the prior year.
- Leasing spreads remained strong with straight-line leasing spreads of 17.9%, marking the 13th consecutive quarter above 17%.
- Occupancy increased 100 basis points sequentially from Q1 to 93.9%.
- Same-store NOI growth was 2.5% for the quarter and 3.9% for the 6 months, on track to meet the full-year target range of 3% to 4.5%.
- Whitestone REIT delivered core FFO per share of $0.26 for Q2 2025 and $0.51 for the first 6 months, representing a 5.4% and 5.6% year-over-year increase respectively.
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