LPL Financial Q2 adjusted EPS rises 29%, beats estimates
LPLA•Outlook
- Company is lowering 2026 Core G&A outlook range to $2.14-2.17 bln
- LPL Financial expects asset retention of about 90% for Commonwealth acquisition
- Company plans about $300 mln in share repurchases for third qtr
Overview
- U.S. wealth manager's Q2 adjusted EPS rose 29% yr/yr, beating analyst expectations
- Gross profit for Q2 increased 24% from a year ago
- Company repurchased $309 mln in shares and raised buyback authorization by $2.5 bln
Result Drivers
- Advisory asset growth - Co said advisory assets increased 46% yr/yr, boosting overall client assets and revenue
- Recruitment and acquisitions - Co attributed asset growth to $25 bln in recruited assets and Mariner Advisor Network acquisition
- Operating leverage - Management said improved operating leverage contributed to record adjusted EPS and gross profit
Key details and analyst coverage
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