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

Leucadia National Corporation Announces First Quarter 2014 Results

Leucadia National Corporation (NYSE:LUK) today announced its operating results for the three month period ended March 31, 2014. Net income attributable to Leucadia National Corporation common shareholders for the three month periods ended March 31, 2014 and 2013 was $94,316,000 ($.25 per diluted common share) and $305,103,000 ($1.08 per diluted common share), respectively. These results reflect the inclusion of Jefferies Group LLC and its subsidiaries since its acquisition; as a result operating results for Jefferies are reflected in the 2014 period only. Net revenues and pre-tax income for 2013 include realized and unrealized gains of $410.3 million, comprised of an unrealized mark-to-market gain of $182.7 million on Jefferies shares owned prior to the merger and a realized gain of $227.6 million related to the sale of Inmet Mining Corporation.

Richard Handler, CEO, and Brian Friedman, President, said: "The first quarter is our fourth full quarter of results since the combination of Leucadia and Jefferies. We are pleased to have completed the integration of the team that now works with us to source, review and structure new investments and acquisitions; solidified and expanded our board of directors; monetized historic investments for total proceeds of $2.5 billion (including sales prior to our merger starting July 1, 2012 and including the pending sale of Premier Entertainment Biloxi); raised an aggregate of $2.9 billion of long-term capital at the parent level, Jefferies and two of our associated companies (since January 1, 2013); and invested over $900 million in cash since March 1, 2013 in new and follow-on investments in Harbinger Group, Leucadia Asset Management, Linkem, Garcadia and Juneau Energy. Additionally, the last two quarters reflected strong results for Jefferies, our largest operating business. We currently are actively pursuing merchant banking opportunities to invest our significant capital in a prudent and thoughtful manner, as well as working to continue to build value at our subsidiaries and investee companies."

1 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 $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs