Leucadia National Corporation
) 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. (
), ITT Corporation (
) and Macquarie Infrastructure Company LLC (
). All these stocks hold a Zacks Rank #2 (Buy).
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