---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-033018"
form_type: "8-K"
ticker: "JEF"
cik: "0000096223"
company_name: "Jefferies Financial Group Inc."
filed_at: "2025-06-25T23:59:59+00:00"
generated_at: "2026-05-18T21:50:15.315773+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Jefferies Q2 EPS $0.40, down 37% YoY; Advisory strong but underwriting and Fixed Income weak; dividend $0.40

## Summary
- Net earnings $88M (diluted EPS $0.40) vs $146M ($0.64) YoY; Advisory net rev +61%, Equity underwriting -51%, Fixed Income -37%.
- Total net revenues $1.63B, down 1% YoY; Investment banking net rev $766M (Advisory $458M, underwriting $328M).
- Return on adjusted tangible equity 5.5% vs 9.1% YoY; book value $49.96, tangible book $32.84 per diluted share.
- Quarterly dividend declared $0.40/share, payable Aug 29 to holders of record Aug 18; unchanged from prior quarter.
- Repurchased 0.7M shares for $58M; management cites strong backlog and is optimistic about H2 2025.

## SEC filing metadata
- accession: 0001628280-25-033018
- form_type: 8-K
- ticker: JEF
- cik: 0000096223
- company_name: Jefferies Financial Group Inc.
- filed_at: 2025-06-25T23:59:59+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/96223/000162828025033018/0001628280-25-033018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/96223/000162828025033018/jef-20250625.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-033018
- JSON: https://secwatch.observer/filing/0001628280-25-033018.json
- Plain text: https://secwatch.observer/filing/0001628280-25-033018.txt

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