Stifel Financial Corporation · NYSE:SF
Stifel Financial — Q2 2018 Earnings Presentation
15 slides from Stifel Financial's earnings presentation, Jul 30, 2018
Slide 1: 2nd Quarter Financial Results Presentation
2nd Quarter Financial Results Presentation July 30, 2018 Exhibit 99.2
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks, assumptions, and uncertainties, including statements relating to the market opportunity and futu
Slide 3: Highlights & Second Quarter Results
Highlights & Second Quarter Results Non-GAAP Net Revenue of $743 million, up 2% Y/Y. Record Asset Management & Services Fees of $200 million, up 15% Y/Y. Record Net Interest Income of $117 million, up 27% Y/Y. Non-GAAP Comp. Ratio of 59%, down 240 bps Y/Y Non-GAAP Pre-tax Margin of 18.5%, up 220 bps
Slide 4: Revenue & Expenses
Revenue & Expenses STIFEL
Slide 5: Brokerage Revenue & Asset Management & Service Fees
Brokerage Revenue & Asset Management & Service Fees * Sum of Global Wealth Management Brokerage Revenue and Asset Management & Service Fees
Slide 6: Investment Banking Revenue
Investment Banking Revenue Investment bat Three Months Ended (000s) 2Q18 2Q17 % Change 1Q18 % Change Capital raising: Goal Wealth Management revenue $7968 $10641 25% $7,688 4% Equity Capital Markets 44087 45,664 3% 52,707 16% Fixed Income Capital Markets 22025 46495 53% 18,294 20% Total capital rais
Slide 7: Net Interest Income
Net Interest Income *Yields for Average Assets & Liabilities include the impact of Financial Instruments Owned, Stock Loan, Stifel Capital Trusts, Cash and Other. **Net interest margin in historical periods reflect impact of reverse repos
Slide 8: Expenses
Expenses * For reconciliation of GAAP to non-GAAP expenses, refer to our second quarter 2018 earnings release. 22.3% 22.1% 19.9% 22.2% 22.5% 18.5% 19.0% 19.5% 20.0% 20.5% 21.0% 21.5% 22.0% 22.5% 23.0% 2Q17 3Q17 4Q17 1Q18 2Q18 Non - Compensation Ratio
Slide 9: Segment Results
Segment Results STIFEL
Slide 10: Global Wealth Management
Global Wealth Management $500 GWM Net Revenue IY Sequential 2Q18 Change Change Fale (Global Wealth Management Revenue “5300 Commissions $118 2% 1% Bs200 Principal Transactions $41 14% 5% 3 s00 Brokerage $159 5% 2% |Asset Management & Service Fees $200 15% 2% baa Net Interest $125 31% 6% 2017307, aay
Slide 11: Stifel Bank & Trust
Stifel Bank & Trust cept for %'s) 2018 2017 1018 change $4957 $3,764 | 32% | $4503 | 10% ‘Agency MBS. 1962 1773 | -12% | 1556] 0% Obrporates 1269 1009] 26% | 1280] 1% Other 198 206 | 4% 200 | -1% Total Investments $7,985 $6,753 | 18% | $7,549 | 6% 2704 2249] 20% | 2634| 3% ‘Commercial Loans 2677 206
Slide 12: Institutional Group
Institutional Group Institutional Group Net Revenue Advisory Fees mCapital Raising Brokerage Other Institutional Group Pre-tax Margin & 25% Contribution ‘$80 7% $60 B is% 5 $40 é 10% 7 5% = | s20 0% : $0 2a17 3ai7_4Qi7_—s 118218 "mm Pretax Oontibution —*—Pret Pretax Ontbutton (ri) YY Sequential 2a18
Slide 13: Balance Sheet
Balance Sheet STIFEL
Slide 14: Balance Sheet
Balance Sheet 138% Growth Infrastructure Build 139% Growth * 2Q18 Capital ratios are estimated
Slide 15: Q&A
Q&A