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Jefferies Financial Group Q1 income $671 million

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Christian Fernsby |
Jefferies Financial Group
Jefferies Financial Group   $2.14 per diluted share

Jefferies Financial Group announced its financial results for the second quarter ended May 31, 2019.

Highlights for the three months ended May 31, 2019:

Net income attributable to Jefferies Financial Group common shareholders of $671 million, or $2.14 per diluted share, including the impact of a nonrecurring tax benefit of $545 million; adjusted net income of $126 million1, or $0.41 per diluted share

Jefferies Group (Investment Banking, Capital Markets and Asset Management) pre-tax income of $155 million and net earnings of $110 million

Total Net Revenues of $902 million

Investment Banking Net Revenues of $448 million

Total Equities and Fixed Income Net Revenues of $379 million

Asset Management Revenues (before Allocated net interest) of $53 million

Merchant Banking pre-tax income of $51 million, reflecting strong performance from National Beef and Vitesse, offset by mark-to-market unrealized decreases in the values of several of our investments in public companies

Repurchase of 7.8 million shares for $150 million, or an average price of $19.33 per share

$336 million (based on July 2 closing stock price) remaining to be purchased under previously authorized share buyback

Jefferies Financial Group had parent company liquidity of $1.3 billion at May 31, 2019.


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