Leucadia's Jefferies Releases Solid Q3 Preliminary Numbers - Analyst Blog

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Leucadia National Corporation 's ( LUK ) wholly owned subsidiary, Jefferies Group LLC continued with its growth trajectory, as is evident from its third-quarter (ended Aug 31, 2014) preliminary results for fiscal 2014.

Jefferies' net income came in at $82 million driven by solid top-line performance. Revenues were $835 million, comprising Investment Banking revenues of $461 million, Equities revenues of $163 million and Fixed Income revenues of $207 million.

For the nine months ended Aug 31, Jefferies net earnings were $256 million. Revenues generated totaled $2,457 million, of which roughly 49.1% were Investment Banking revenues, 21.5% were Equities revenues and 28.9% were Fixed Income revenues.   

Leucadia's management believes that these results were by far Jefferies Group's best performance for the third quarter and 9 months in the last 50 years. Jefferies Group is scheduled to release its final third-quarter results on Sep 16.

Jefferies was merged with Leucadia in Mar 2013 to form a limited liability company, Jefferies Group LLC. It handles the company's investment banking and capital market operations. Revenues generated from this business accounted for 24.2% of Leucadia's total revenue in second-quarter 2014.  

Leucadia currently has a market capitalization of $9.2 billion. The company primarily engages in beef processing, manufacturing and real-estate activities, along with various other investment-related affairs in the U.S.

Some major players in the diversified operations industry include Federal Signal Corp. ( FSS ), ITT Corporation ( ITT ) and Macquarie Infrastructure Company LLC ( MIC ). All these stocks hold a Zacks Rank #2 (Buy).


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: ITT , FSS , MIC , LUK

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