Stifel Financial Corporation · NYSE:SF
Stifel Financial — Q1 2008 Earnings Presentation
19 slides from Stifel Financial's earnings presentation, May 12, 2008
Slide 1: Stifel Financial Corp. 1st Quarter 2008 Earnings Conference Call
Stifel Financial Corp. 1st Quarter 2008 Fiscal Year Earnings Conference Call May 12, 2008
Slide 2: Forward Statements
Forward Statements This presentation may contain "forward-looking statements" that involve risks and uncertainties, including statements relating to the market opportunity and future business prospects of Stifel Financial Corp. and Stifel Nicolaus ("SF" or the "Company"). Actual results may differ m
Slide 3: Business Highlights
Business Highlights Net revenue of $211.5 million a 35% increase over the prior year first quarter and down slightly from the fourth quarter 2007. GAAP net income of $14.3 million, or $0.81 per diluted share, a 62% increase over the prior year first quarter and a 4% increase from the fourth quarter
Slide 4: Stifel Income Statement-Core Revenues
Stifel Income Statement-Core Revenues
Slide 5: Stifel Income Statements
Stifel Income Statements ___@uartersEnded _—|_——%Change (8 in thousands) 33108 12/107 3/3/07 1281/07 3/31/07 Net Revenues $211,477 $ 212,160 $ 156,961 % 35% Compensation and Benefits 139,732 133,018 «104,672 5% 33% Non-Comp Operating Expenses 41,189 46,175 30,172 -11% 3% Total non-interest expenses
Slide 6: Segment Comparison-Excluding Acquisitions
Segment Comparison-Excluding Acquisitions
Slide 7: Private Client Group Income Statement
Private Client Group Income Statement
Slide 8: Equity Capital Markets Income Statement
Equity Capital Markets Income Statement
Slide 9: Fixed Income Capital Markets Income Statement
Fixed Income Capital Markets Income Statement
Slide 10: Banking Segment Income Statement
Banking Segment Income Statement
Slide 11: Other Segment
Other Segment Analysis (8 in thousands) 3 Months Ended Net Revenues 3312008 3/31/2007 Acquisition Related Other $ - §$ 7 Other 1,312 4,289 Total net revenues $ 1,312 $ 4,289 Operating Contribution Acquisition Related Other $ (6,631) $ (7,300) Other (17,198) (11,279) Total Operating Contribution $ (2
Slide 12: Reconciliation of GAAP to Core Earnings
Reconciliation of GAAP to Core Earnings
Slide 13: GAAP to Core Earnings
GAAP to Core Earnings Quarter Ended 3/31/08 Quarter Ended 3/31/07 Core | Acquisition (Bin thousands) Business | Related Revenues $ 21477 $ -__$ 211477 $156,961 $ - $$ 156961 Compensation and benefits 139,732 6298 146,030 104,672 6,162 110834 Operating Expenses 41,189 333 41,522 30,172 1,138 31310 To
Slide 14: Estimated/Actual Yearly Impact of Acquisition charges on Income statement
Estimated/Actual Yealy Impact of Acquisition charges on Income statement
Slide 15: Estimated/Actual Quarterly Impact of Acquisition charges on Income statement
Estimated/Actual Quarterly Impact of Acquisition charges on Income statement
Slide 16: Balance Sheet Graphs
Total Assets ($ millions) $1,499 51,613 Stifel Financial ous Balance Sheet Graphs += Total Capitalization ($ millions) 2002 «200820042005 2005.) 2007 2008 Book Value Per Share. , SZ7.5F $30 $20 $13.53 $1331 $1035 $10 i Defined as stockholder’ s equity plus the trust preferred securities. ar aan 2006
Slide 17: Capital Structure
Capital Structure (8 in thousands) 3/31/2008 Total Assets $ 1,613,215 Stockholders' Equity $ 437,038 Debentures to: Stifel Financial Capital Trust II - LIBOR plus 1.70% (fixed at 6.38% until 9/30/10), due 9/30/35 $ 35,000 Stifel Financial Capital Trust III - LIBOR plus 1.85% (fixed at 6.79% until 6/
Slide 18: Other Financial Data
Other Financial Data vs vs 12/31/2007 3/31/2007 Total Assets (000's) $ 1,613,215 $ 1,499,440 $ 1,427,407 8% 13% Stockholders Equity (000's) $ 437,038 $ 424,637 $ 342,641 3% 28% Book value Per Share $28.07 $27.54 $23.16 2% 21% Financial Advisors 972 966 956 1% 2% Employees 2,882 2,834 2,766 2% 4% Loc
Slide 19: Questions and Answers
Questions and Answers