This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Raymond James Financial's CEO Discusses Q1 2012 Results - Earnings Call Transcript

And M&A was down. It was down really because it's just a lumpier business for us. I don't think, again, in backlog, anything really stands out. But the quarter -- they were down for the quarter.

And our Tax Credit Funds last quarter had a very big quarter, and not as good of a quarter this month -- this quarter. So if you add that all together, we had a lot of headwinds into the Equity Capital Markets segment. But again, not backlog related, but I do think market related.

Fixed income kind of started to recover from a poor quarter, the previous quarter, as it was in the industry. And especially, December was pretty strong, and January was off to a good start also. So -- but -- so most of that Capital Markets numbers you see are really focused on the Equity Capital Markets segment.

On the Asset Management business, again we had a slight down draft because of our billings. But you can see that the assets under management are up 9%. So a reasonable quarter given the start, we do, as you can see from the earnings from the segment, do have leverage in that segment. So as the revenue's up, we get a leverage up or down on the pretax profits from there. So I think, again, we should bode well a good start on the Asset Management business.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.11 -1.10%
FB $117.71 0.24%
GOOG $696.97 0.67%
TSLA $224.00 -3.60%
YHOO $35.98 -0.08%


Chart of I:DJI
DOW 17,659.34 -91.57 -0.52%
S&P 500 2,048.00 -15.37 -0.74%
NASDAQ 4,718.88 -44.3440 -0.93%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs