Business
BGC Group Updates its Outlook for the First Quarter of 2025
NEW YORK, March 26, 2025 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC), today announced that it has updated its outlook for the quarter ending March 31, 2025.
About this update from Bgc Group, Inc.
[{"type":"text","content":"NEW YORK, March 26, 2025 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC), today announced that it has updated its outlook for the quarter ending March 31, 2025.\n\n \n \n \n \n \n \n\n \nUpdated OutlookBGC reaffirmed its previously stated outlook ranges for revenue and pre-tax Adjusted Earnings for the first quarter of 2025. The Company's outlook was contained in BGC's financial results press release issued on February 14, 2025, which can be found at http://ir.bgcg.com.\nNon-GAAP Financial MeasuresThe non-GAAP definitions below include references to certain equity-based compensation instruments, such as restricted stock awards and/or restricted stock units (\"RSUs\"), that the Company has issued and outstanding following its corporate conversion on July 1, 2023. Although BGC is retaining certain defined terms and references, including references to partnerships or partnership units, for purposes of comparability before and after the corporate conversion, such references may not be applicable following the period ended June 30, 2023.\nThis document contains non-GAAP financial measures that differ from the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles in the United States (\"GAAP\"). Non-GAAP financial measures used by the Company include \"Adjusted Earnings before noncontrolling interests and taxes\", which is used interchangeably with \"pre-tax Adjusted Earnings\"; \"Post-tax Adjusted Earnings to fully diluted shareholders\", which is used interchangeably with \"post-tax Adjusted Earnings\"; \"Adjusted EBITDA\"; \"Liquidity\"; and \"Constant Currency\". The definitions of these terms are below.\nAdjusted Earnings DefinedBGC uses non-GAAP financial measures, including \"Adjusted Earnings before noncontrolling interests and taxes\" and \"Post-tax Adjusted Earnings to fully diluted shareholders\", which are supplemental measures of operating results used by management to evaluate the financial performance of the Company and its consolidated subsidiaries. BGC believes that Adjusted Earnings best reflect the operating earnings generated by the Company on a consolidated basis and are one of the financial metrics that management considers when managing its business.\nAs compared with \"Income (loss) from operations before income taxes\" and \"Net income (loss) for f...