01—Abstract
Summary
Summary of the 8-K filed April 30, 2026. Cited figures are marked; the original filing is the authoritative source.
LPL Financial Holdings Inc. (Nasdaq: LPLA) filed this Form 8-K under Item 2.02 to furnish its press release announcing results for the three months ended March 31, 2026.
Net income was $356 milliona, or $4.43 diluted EPS, up 4% from a year ago; Adjusted EPS rose 9% year-over-year to $5.60. Total revenue was $4,938,434 thousand, up 35% from the prior-year quarter, and Gross Profit increased 25% year-over-year to $1,593 million. Core G&A increased 29% year-over-year to $532 million, and the company lowered the upper end of its 2026 Core G&A outlook by $20 million to a range of $2,155-2,190 million.
Business metrics were mixed. Total client assets increased 30% year-over-year to $2.3 trillionb, with advisory assets at 59.5% of the total, up from 54.5% a year earlier. Total organic net new assets were $21 billion, representing 4% annualized growth, but recruited assets fell 55% year-over-year to $17 billion.
Total client cash balances were $59 billionc, down $2 billion sequentially. The leverage ratio was 1.86x and corporate cash was $567 million.
On corporate actions, the company said the Commonwealth Financial Network conversion is on track for the fourth quarter of 2026, with estimated run-rate EBITDA lowered from $425 million to $410 milliond. It also announced an agreement in April to lead the acquisition of Mariner Advisor Network, resumed share repurchases with about $125 million planned for the second quarter, and declared a $0.30 per share dividend payable June 4, 2026.
02—Key points
Key Highlights
- Net income of $356 million and diluted EPS of $4.43, up 4% year-over-year; the release describes this as record earnings per share.
- Adjusted EPS rose 9% year-over-year to $5.60; Adjusted pre-tax income increased 20% to $613 million.
- Total client assets grew 30% year-over-year to $2.3 trillion, and advisory assets reached 59.5% of total client assets.
- Recruited assets were $17 billion, down 55% from a year ago, though trailing twelve-month recruited assets totaled $83 billion.
- Commonwealth conversion remains on track for Q4 2026, with expected asset retention of about 90% and run-rate EBITDA lowered to $410 million from $425 million.
- 2026 Core G&A outlook upper end lowered by $20 million to $2,155-2,190 million.
- Share repurchases resumed in April with about $125 million planned for Q2; a $0.30 per share dividend is payable June 4, 2026.
03—Questions
Frequently Asked Questions
How did LPL perform in the first quarter of 2026?
LPL reported net income of $356 million, or $4.43 per diluted share, compared with $319 million, or $4.24 per share, in the first quarter of 2025. Adjusted EPS was $5.60, up 9% year-over-year.
What drove growth in client assets and advisory mix?
Total client assets increased 30% year-over-year to $2.3 trillion, and advisory assets increased 42% to $1.4 trillion. Advisory assets as a percentage of total client assets rose to 59.5% from 54.5% a year earlier.
Did recruiting momentum continue?
Recruited assets were $17 billion in the quarter, down 55% from a year ago. Trailing twelve-month recruited assets were $83 billion, and the CEO said recruiting momentum is building.
What is the status of the Commonwealth acquisition and Mariner deal?
The company expects to complete the Commonwealth conversion in the fourth quarter of 2026 with about 90% asset retention, and estimated run-rate EBITDA was lowered to $410 million from $425 million. In April, LPL agreed to lead the acquisition of Mariner Advisor Network, which supports 367 advisors managing $31 billion of client assets.
What are the capital return plans?
LPL resumed its share repurchase program in April, with an estimated $125 million of repurchases planned during the second quarter. The Board declared a $0.30 per share dividend payable June 4, 2026, to stockholders of record as of May 21, 2026.
04—Continue