Jefferies Financial Group $JEF
Yesterday, Jefferies Financial Group, which offers financial services in the investment banking industry, reported results.
Results :
Revenue : $1.04 billion and $1.1 billion was expected.
EPS : $0.29 and $0.42 was expected.
Thus, the results unfortunately did not beat expectations.
I have to admit that I was not familiar with this company until a week ago.
I was wondering if you know this company and possibly how you view this company.
So how is it growing? I just did a quick scan of some data and the balance sheet looks good. P/S and P/B too, but the banks are going off on me.
I know the company and I do not evaluate the results negatively at all. Admittedly, investment banking net revenue fell 26% to $510 million at Jefferies, weighed down by subdued M&A activity, while capital markets net revenue rose 30% to $543 million in the quarter, but that's just a reflection of a difficult period.
The company's CEO described it well:
Challenges during the second quarter included "the impact of the regional banking crisis, the government-sponsored forced merger of Credit Suisse and UBS, and the tumultuous process of expanding the U.S. debt ceiling.
The company will recover very quickly, in my view.