Overview

• Jefferies reported net earnings of $88 million ($0.40 per share) for the quarter ended May 31, down 40% from a year earlier.
• Equity underwriting revenue fell 51% to $122.4 million as market volatility and policy uncertainty held back deal formation.
• Advisory revenue surged 61% to $457.9 million, driven by market-share gains in merger and acquisition advisory.
• Total investment banking revenue slipped 2.7% to $766.3 million while capital markets revenue edged down 0.4% to $704.2 million.
• CEO Rich Handler and President Brian Friedman highlighted a robust backlog and active client discussions as foundations for a late-2025 rebound.