Jefferies Financial Group Posts a Jump in Revenues and Net Income in 2021

Investment bank and financial services firm Jefferies Financial Group Inc (NYSE:JEF) posted its financial figures for the three and six months, ending on May 31, showing a significant jump in revenues and net income.

More specifically, net Income attributable to common shareholders for the second quarter amounted to $353 million. Net revenues came in at $1,617 million, 56% higher than a year earlier. In terms of income, the company recorded a pre-tax income of $429 million. Annualized return on tangible equity reached 26.9%, compared with 11.6% in the prior year quarter.

For the six months ended 31 May 2021, Jefferies Group reported net revenues of $3,747 million, up 70% over the prior year. Pre-tax income totaled $1,100 million, up 170% over the prior year period. Annualized return on tangible equity approached 35.8%, compared with 14.1% in the prior year period.

​Rich Handler, CEO of Jefferies Group, and Brian Friedman, President of Jefferies Group, said: “We would like to thank our colleagues and clients for Jefferies’ spectacular results thus far in 2021. Our performance reflects the continued growth and strength of our global full-service business model and our increasing market share – particularly in Investment Banking, where net revenues for the first half of the year were more than $2 billion and our backlog for the third quarter is at a record level. Additionally, our Equities, Fixed Income and Asset Management businesses all are performing well, even as the environment becomes more normalized relative to the uniquely exceptional first quarter.”