Jefferies Financial Group Inc. JEF shares are trading lower in Monday's after-hours session after the company reported its fourth-quarter earnings results. Here's what you need to know.
What To Know: Jefferies reported earnings of 29 cents per share, missing the analyst consensus estimate of 34 cents. The figure represents a year-over-year decrease of 49% from 57 cents.
Revenue of $1.2 billion fell below analyst expectations of $1.236 billion.
A closer look at the company's earnings results shows that Jefferies reported Investment Banking net revenues of $577 million and Capital Markets net revenues of $481 million.
Also, annualized return on adjusted tangible equity was 3.8%.
"2023 was a transition year in the economy, in capital markets, in our industry and at Jefferies. It was accompanied by the challenges and sadness of geopolitical turmoil. In the face of this, Jefferies performed reasonably well and eked out a modest return on equity during what we believe to be the bottom of the current cycle," said CEO Richard Handler and President Brian Friedman.
JEF Price Action: Shares of Jefferies were down 2.83% at $39.54 in the after-hours session at the time of publication, according to Benzinga Pro.
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