Jefferies Financial Group Inc. reported financial results for the quarter and nine months ended August 31, 2026, in a filing dated September 28, 2026. The company reported quarterly net revenues of $2.22 billion and net earnings attributable to common shareholders of $260.6 million, or $1.08 per diluted share. The return on adjusted tangible shareholders' equity for the quarter was 13.5%.
Investment banking net revenues were $1.33 billion, a 17% increase from the prior year quarter, marking the company's best quarterly results ever. Advisory net revenues reached $818 million, a record quarter and a 25% increase year-over-year. Equity underwriting revenues increased by 69% to $306 million. Capital markets net revenues were $802 million, up 11% from the prior year. Equities net revenues were $626 million, a record quarter and a 29% increase, driven by global trading volumes and prime services. Conversely, fixed income net revenues decreased 26% to $176 million due to lower industry volumes.
Asset management net revenues were $85.6 million, down from $176.9 million in the prior year quarter, attributed to weaker performance across several fund strategies. Year-to-date, net earnings attributable to common shareholders were $639.7 million, or $2.79 per diluted share, with a return on adjusted tangible shareholders' equity of 12.9%.
The company repurchased 1.3 million shares of common stock during the quarter for $70 million, at an average price of $52.34 per share. Year-to-date, 8.3 million shares were repurchased for $441 million, at an average price of $53.25 per share. The Board of Directors declared a quarterly cash dividend of $0.40 per share, payable on November 25, 2026. The Board also increased the share buyback authorization back to $250 million for future repurchases.
Jefferies also announced a strategic alliance with SMBC, which has increased its equity ownership in Jefferies to approximately 20%, becoming the largest shareholder. The companies plan to launch a joint venture in Japan in January 2027 to scale a wholesale equities and equity capital markets business.
