Jefferies Reports Solid Fixed Income Revenues for Fiscal 2019

Fixed income revenues increased for the final quarter of fiscal 2019 and for the year as a whole.

Jefferies Financial Group Inc., an investment banking company, has filed its financial results for the final quarter of its 2019 fiscal year, as well as the full-year results, with the Securities and Exchange Commission (SEC)

The 2019 fiscal year for Jefferies ended on the 30th of November, 2019. Therefore, the fiscal year is from December 1, 2018, until the end of November. The final quarter from the fiscal year spans from September to November of 2019.

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Starting off first with results for the fourth quarter, total net revenues came in at $747.8 million. When measuring this against the previous quarter, net revenues fell by 3.8 percent. Net revenues for the final quarter of fiscal 2019 were also slightly lower by 1.9 percent year-on-year.

Jefferies sees solid fixed income sales and trading 

For the fourth quarter of fiscal 2019, the total equities and fixed income net revenues were $363 million. Unlike total revenues, this figure has actually managed to increase on both a quarterly comparison (up by 6.3 percent) and when weighed against the same quarter of the previous year by 44.7 percent.

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Fixed income net revenues, in particular, pulled its weight with the quarterly revenues almost doubling on a yearly comparison and climbing from $86.8 million in Q4 of 2018 up to $163.0 million. This translates to an uptick of 87.8 percent.

For the full-year, Jefferies reported total net revenues of $3.113 billion. Similar to the final quarter of the year, net revenues for the full year have dropped year-on-year by 2.2 percent.

However, the total equities and fixed income net revenues once again performed solidly. In particular, the investment banking company posted a result of $1.455 billion, which is 19 percent up from the previous year.

Revenues generated from fixed income sales and trading was $681.4 million. Against the 2018 fiscal year, which recorded revenues of $559.7 million, this has risen by 21.7 percent.

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