---
schema_version: "secwatch.filing_event.v1"
accession: "0000096223-23-000021"
form_type: "8-K"
ticker: "JEF"
cik: "0000096223"
company_name: "Jefferies Financial Group Inc."
filed_at: "2023-06-27T23:59:59+00:00"
generated_at: "2026-06-13T16:44:53.318029+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Jefferies Q2 net earnings $12M ($0.05 EPS) including $72M OpNet loss; revenue down 22% YoY

## Summary
- Net earnings $12M ($0.05 diluted) includes $72M pre-tax OpNet loss; revenue $1.04B, down 22% YoY.
- Investment Banking rev $510M (-26% YoY); Capital Markets rev $543M (+30% YoY).
- Book value $41.90; tangible book $31.51; repurchased 2.2M shares for $67M; buyback auth renewed to $250M.
- Quarterly dividend $0.30/share payable Aug 25, record Aug 14.
- SMBC to increase economic interest to ~15% via open-market purchases; special meeting tomorrow for nonvoting shares.

## SEC filing metadata
- accession: 0000096223-23-000021
- form_type: 8-K
- ticker: JEF
- cik: 0000096223
- company_name: Jefferies Financial Group Inc.
- filed_at: 2023-06-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/96223/000009622323000021/0000096223-23-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/96223/000009622323000021/jef-20230627.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000096223-23-000021
- JSON: https://secwatch.observer/filing/0000096223-23-000021.json
- Plain text: https://secwatch.observer/filing/0000096223-23-000021.txt

## Key facts
- Earnings Releases
  Jefferies Financial Group Inc. reported the six months ended May 31, 2023 results: revenue $2,321,102, net income $146,014, EPS $0.60.
  - Period: the six months ended May 31, 2023
  - Revenue: $2,321,102
  - Net income: $146,014
  - EPS: $0.60
  - Result: reported results
  source text: (5)% $ 2,259,795 $ 2,567,539 (12)% Asset Management (22,384) 233,977 N/M 55,912 460,809 (88)% Other 7,490 (1,081) N/M 5,395 2,564 110% Net revenues 1,037,610 1,338,070 (22)% 2,321,102 3,030,912 (23)% Net earnings before income taxes 17,919 166,541 (89)% 175,937 558,873 (69)% Income tax expense 9,235 49,683 (81)% 37,929 114,040 (67)% Net earnings 8,684 116,858
  evidence_url: https://www.sec.gov/Archives/edgar/data/96223/000009622323000021/0000096223-23-000021-index.htm
- Earnings Releases
  Jefferies Financial Group Inc. reported the quarter ended May 31, 2023 results: revenue $1.04 billion, net income $12 million, EPS $0.05 per diluted share.
  - Period: the quarter ended May 31, 2023
  - Revenue: $1.04 billion
  - Net income: $12 million
  - EPS: $0.05 per diluted share
  - Result: reported results
  source text: of pre-tax losses related to OpNet (formerly Linkem), a legacy merchant banking investment • Annualized return on adjusted tangible equity 1 of 0.7% • Total net revenues of $1.04 billion, including $72 million of pre-tax losses related to OpNet Ø Investment Banking net revenues of $510 million Ø Capital Markets net revenues of $543 million • Repurchased 2.2
  evidence_url: https://www.sec.gov/Archives/edgar/data/96223/000009622323000021/0000096223-23-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.