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LPL Financial reported Q2 FY2026 revenue of $5.2 billion, compared with $3.8 billion in Q2 FY2025, a 35.2% increase. The company’s revenue, as the consensus counts it, was $5.0 billion for the quarter to June 30, 2026, matching the $5.0 billion consensus revenue.
LPL Financial reported adjusted EPS, as the consensus counts it, of $5.84, compared with the $5.39 consensus adjusted EPS, or 8.35% above the consensus. The company reported diluted EPS of $4.74, versus $3.40 a year earlier, a 39.4% increase.
The company reported gross margin of 31.4%, compared with 34.1% a year earlier, a decrease of −2.7 percentage points. LPL Financial reported operating margin of 11.9%, versus 12.4% in Q2 FY2025, a decrease of −0.5 percentage points. The company reported free cash flow of $202.5 million, compared with $56.3 million a year earlier, an increase of 259.6%.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $5.2 billion | $3.8 billion | 35.2% |
| Diluted EPS | $4.74 | $3.40 | 39.4% |
| Gross margin | 31.4% | 34.1% | −2.7 percentage points |
| Operating margin | 11.9% | 12.4% | −0.5 percentage points |
| Free cash flow | $202.5 million | $56.3 million | 259.6% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $5.84 | $5.39 | Beat by 8.35% |
| Revenue | $5.0 billion | $5.0 billion | In line |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
No commentary from LPL Financial’s latest earnings call is available for this page.
Guidance
In its October 27 results release, LPL Financial said it was narrowing FY2026 Core G&A outlook to $2.1 billion–$2.2 billion, including expenses related to Commonwealth.
| Metric | For | Guide | Previous guide | Change |
|---|---|---|---|---|
| Operating expenses, Core G&a | FY2026 | $2.1 billion–$2.2 billion | — | New |