LPL Financial Holdings Inc
For the period ended Jun 30, 2024. Filed Jul 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 30, 2024
LPLA$308.51+1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Statements of Income (unaudited)
Condensed Consolidated Statements of Income
(In thousands, except per share data)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| REVENUE | ||||
| Advisory | $1,288,163 | $1,014,565 | $2,487,974 | $1,968,622 |
| Commission: | ||||
| Sales-based | 423,070 | 298,961 | 808,305 | 585,033 |
| Trailing | 363,976 | 323,925 | 725,187 | 641,578 |
| Total commission | 787,046 | 622,886 | 1,533,492 | 1,226,611 |
| Asset-based: | ||||
| Client cash | 341,475 | 378,415 | 693,857 | 796,690 |
| Other asset-based | 259,533 | 211,300 | 507,872 | 414,773 |
| Total asset-based | 601,008 | 589,715 | 1,201,729 | 1,211,463 |
| Service and fee | 135,000 | 123,122 | 267,172 | 242,109 |
| Transaction | 58,935 | 46,936 | 116,193 | 95,871 |
| Interest income, net | 47,478 | 37,972 | 91,003 | 75,330 |
| Other | 14,139 | 33,608 | 66,799 | 66,630 |
| Total revenue | 2,931,769 | 2,468,804 | 5,764,362 | 4,886,636 |
| EXPENSE | ||||
| Advisory and commission | 1,819,027 | 1,448,763 | 3,552,514 | 2,819,397 |
| Compensation and benefits | 274,000 | 231,680 | 548,369 | 465,213 |
| Promotional | 136,125 | 102,565 | 262,744 | 200,788 |
| Depreciation and amortization | 70,999 | 58,377 | 138,157 | 114,431 |
| Occupancy and equipment | 69,529 | 65,005 | 135,793 | 125,178 |
| Interest expense on borrowings | 64,341 | 44,842 | 124,423 | 84,026 |
| Brokerage, clearing and exchange | 32,984 | 29,148 | 63,516 | 55,274 |
| Amortization of other intangibles | 30,607 | 26,741 | 60,159 | 50,833 |
| Professional services | 22,100 | 18,092 | 35,379 | 32,312 |
| Communications and data processing | 19,406 | 20,594 | 39,150 | 38,269 |
| Other | 62,580 | 34,178 | 99,895 | 67,599 |
| Total expense | 2,601,698 | 2,079,985 | 5,060,099 | 4,053,320 |
| INCOME BEFORE PROVISION FOR INCOME TAXES | 330,071 | 388,819 | 704,263 | 833,316 |
| PROVISION FOR INCOME TAXES | 86,271 | 103,299 | 171,699 | 208,912 |
| NET INCOME | $243,800 | $285,520 | $532,564 | $624,404 |
| EARNINGS PER SHARE | ||||
| Earnings per share, basic | $3.26 | $3.70 | $7.13 | $8.01 |
| Earnings per share, diluted | $3.23 | $3.65 | $7.05 | $7.90 |
| Weighted-average shares outstanding, basic | 74,725 | 77,234 | 74,644 | 77,988 |
| Weighted-average shares outstanding, diluted | 75,548 | 78,194 | 75,529 | 79,083 |
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