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LPL Financial Holdings (LPLA) Q3 FY2021 earnings: revenue $2.0 billion, up 38.4% on the year

LPL Financial Holdings Inc. (LPLA) reported revenue of $2.0 billion for Q3 FY2021, the quarter ended 30 September 2021, up 38.4% on the same quarter a year earlier. Net income was $103 million, down 0.7% on the year, and diluted earnings per share $1.26. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2021.

Revenue$2.0 billionup 38.4%
Net income$103 milliondown 0.7%
Diluted EPS$1.26
QuarterQ3 FY2021ended 30 September 2021

The quarter, against the one before and a year earlier

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Revenue2,021n/an/an/a
Operating income138n/an/an/a
Operating margin6.8%n/an/a
Interest expense27.1n/an/an/a
Pre-tax income138n/an/an/a
Income tax34.9n/an/an/a
Effective tax rate25.3%n/an/a
Net income103n/an/an/a
Net margin5.1%n/an/a
Diluted EPS$1.26n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Operating cash flow258n/an/an/a
Capital expenditure55.0n/an/an/a
Free cash flow203n/an/an/a
Free cash flow margin10.1%n/an/a
Cash from investing-54.1n/an/an/a
Cash from financing-56.2n/an/an/a
Depreciation and amortisation38.4n/an/an/a
Share-based compensation10.2n/an/an/a
Buybacks40.0n/an/an/a
Dividends paid20.1n/an/an/a
Dividend per share$0.25n/an/an/a
Diluted shares, weighted82mn/an/an/a
Shares outstanding at period end80mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Shareholders' equity1,616n/an/an/a
Debt2,726n/an/an/a
Other liabilities3,214n/an/an/a
Total liabilities and equity7,556n/an/an/a
Fixed assets625n/an/an/a
Goodwill1,641n/an/an/a
Intangible assets471n/an/an/a
Securities held for sale or to maturity11.2n/an/an/a
Securities borrowed10.2n/an/an/a
Trading assets32.1n/an/an/a
Cash and equivalents978n/an/an/a
Other assets3,788n/an/an/a
Total assets7,556n/an/an/a

Questions

What was LPL Financial Holdings' revenue in Q3 FY2021?

LPL Financial Holdings (LPLA) reported revenue of $2.0 billion for Q3 FY2021, the quarter ended 30 September 2021, up 38.4% on the same quarter a year earlier.

How much did LPL Financial Holdings earn in Q3 FY2021?

Net income for Q3 FY2021 was $103 million, down 0.7% on the year, and diluted earnings per share $1.26.

When did LPL Financial Holdings report Q3 FY2021 results?

LPL Financial Holdings filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 2 November 2021.

Quarterly results, the last 20 quarters

Q3 FY2021 †Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,0212,0942,0662,0392,1632,3332,4182,4692,5222,6442,8332,9323,1083,5123,6703,8354,5524,9324,9385,187
Operating income13834.9173212307419444389318294374330347341417369-34.1398485516
Operating margin7%2%8%10%14%18%18%16%13%11%13%11%11%10%11%10%-1%8%10%10%
Interest expense27.127.127.228.833.237.139.244.848.454.460.164.367.882.085.9106106106100102
Pre-tax income138137173212307419444389318294374330347341417369-34.1398485516
Tax rate25%21%23%24%24%24%24%27%29%26%23%26%26%21%24%26%n/a24%26%26%
Net income103108134161232319339286224218289244255271319273-29.5301356379
Net margin5%5%6%8%11%14%14%12%9%8%10%8%8%8%9%7%-1%6%7%7%
Diluted EPS$1.26$1.32$1.64$1.97$2.86$3.95$4.24$3.65$2.91$2.85$3.83$3.23$3.39$3.59$4.24$3.40-$0.37$3.74$4.43$4.74
Operating cash flow258253-75.172.72,125-177-206403173143426-179209-179340193-1,730785290402
Capital expenditure55.076.073.576.382.474.410110195.0106121129147166119137142172166199
Free cash flow203177-149-3.62,042-251-30730278.136.7305-30862.3-34422056.3-1,872613125203
Buybacks40.050.050.050.075.015027535025022570.00.00.0100100-0.20.00.00.0309
Dividends paid20.120.020.020.019.919.923.623.122.822.622.422.422.422.522.424.024.024.024.124.0
Shares outstanding80m80m80m80m80m79m78m76m76m74m75m75m75m75m80m80m80m80m80m79m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2021, filed 2 November 2021: the filing.