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Raymond James Financial (RJF) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 6, 2026
Raymond James Financial (RJF) reported revenue of $4.2B for the first quarter fiscal 2026 (Q1 FY26), +3% from a year earlier and -0.3% from the quarter before. Operating margin was 17.4%, net earnings $563M (13.5% of revenue).
Raymond James Financial, Q1 FY26: revenue $4.2B (+4% year over year), operating margin 17.4%, net earnings $563M, operating cash flow −$10.0M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.2B | -0.3% | +3% |
| Operating profit | $728M | -0.4% | -3% |
| Net earnings | $563M | -7% | -6% |
| Operating cash flow | −$10.0M | -101% | — |
What changed
Revenue was $4.2B in Q1 FY26, up 3% year over year and roughly flat from the previous quarter.
Operating profit was $0.73B, a 17.4% margin (down 1.1 points year over year). Operating profit fell $0.02B even though revenue rose $0.14B versus a year earlier, so costs grew faster than sales. Total costs grew 5% against revenue growth of 3%. Net earnings were $0.56B, down 6% year over year. The effective tax rate was 22.7%.
Operating cash flow was −$0.01B. Non-cash charges added back $0.05B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $0.70B. Capital expenditures of $0.05B exceeded it, leaving free cash flow of −$0.06B.
Questions
What was Raymond James Financial's revenue in the first quarter fiscal 2026?
Raymond James Financial (RJF) reported revenue of $4.2B for the first quarter fiscal 2026 (Q1 FY26), +3% from a year earlier and -0.3% from the quarter before.
Was Raymond James Financial profitable in the first quarter fiscal 2026?
Operating profit was $728M (17.4% of revenue) and net earnings $563M.