earnings
confidence high
sentiment negative
materiality 0.75
LPL Financial Q2 net income $244M, EPS $3.23 down 12% YoY; adjusted EPS $3.88 down 2%
LPL Financial Holdings Inc.
2024-Q2 EPS reported
$7.05
revenue$5,764,362,000
- Net income of $244M, diluted EPS of $3.23, down 12% YoY; adjusted EPS of $3.88, down 2% YoY.
- Total advisory and brokerage assets hit $1.5T (+21% YoY); advisory assets $829B (+25% YoY), representing 55.4% of total.
- Organic net new assets of $29B (8% annualized); organic net new advisory assets of $27B (13% annualized).
- Recruited assets $24B in quarter, trailing twelve months $93B (+55% YoY); advisor count 23,462, up 578 sequentially.
- Client cash balances of $44B, down $2B sequentially and $6B YoY; as % of assets 2.9%, down from 4.0% a year ago.