LPL Financial reported second quarter revenue of $5.19 billion, an increase of 35% year-over-year, and GAAP diluted EPS of $4.74, up 39%. The company's adjusted EPS of $5.84 surpassed analyst estimates, driven by strong asset gathering and recruiting momentum.
Key Highlights
- Adjusted EPS of $5.84 beat the $5.39 consensus estimate, driven by strong asset growth and expense management.
- Organic net new assets (NNA) of $23.1 billion significantly exceeded expectations of $19.5 billion, representing a 4% annualized growth rate.
- Total client assets grew 34% year-over-year to $2.6 trillion, supported by $25 billion in recruited assets during the quarter, a 35% increase from a year ago.
- The company lowered its full-year 2026 Core G&A outlook to a range of $2,140-$2,165 million and increased its share repurchase authorization by $2.5 billion.