Business
INTL FCStone Inc. Reports Fiscal 2020 First Quarter Financial Results
Quarterly Operating Revenues of $276.8 million, up 5% Net Income of $16.3 million EPS of $0.84 per share, ROE of 10.8% NEW YORK, Feb. 05, 2020 (GLOBE
About this update from Stonex Group Inc.
[{"type":"text","content":"Quarterly Operating Revenues of $276.8 million, up 5%\n Net Income of $16.3 million EPS of $0.84 per share, ROE of 10.8% NEW YORK, Feb. 05, 2020 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (the ‘Company’; NASDAQ: INTL), a diversified brokerage and financial services firm providing execution, risk management and advisory services, market intelligence and clearing services across asset classes and markets globally, today announced its financial results for the fiscal year 2020 first quarter ended December 31, 2019. Sean M. O’Connor, CEO of INTL FCStone Inc., stated, “The first quarter of fiscal 2020 was a solid quarter, given difficult market conditions including lower market volatility and declining short term rates. During the quarter, we continued to see progress on the implementation of key initiatives we began in fiscal 2019 as well the continued integration of recent acquisitions which have increased our product offering and expanded our client footprint. While these strategic moves were not yet profitable in aggregate during the quarter, their performance has improved over the immediately preceding fourth quarter and we continue to believe these strategic moves coupled with the continued digitization of our platform will be key initiatives to the continued growth of our global franchise.” INTL FCStone Inc. Summary Financials Consolidated financial statements for the Company will be included in our Quarterly Report on Form 10-Q to be filed with the SEC. The Quarterly Report on Form 10-Q will also be made available on the Company’s website at www.intlfcstone.com. Three Months Ended December 31, %(Unaudited) (in millions, except share and per share amounts)2019 2018 ChangeRevenues: Sales of physical commodities$10,978.0 $6,295.8 74%Principal gains, net112.5 94.9 19%Commission and clearing fees87.2 97.4 (10)%Consulting, management and account fees21.3 19.1 12%Interest income46.0 45.0 2%Total revenues11,245.0 6,552.2 72%Cost of sales of physical commodities10,968.2 6,287.5 74%Operating revenues276.8 264.7 5%Transaction-based clearing expenses46.3 50.1 (8)%Introducing broker commissions26.2 32.6 (20)%Interest expense33.8 33.0 2%Net operating revenues170.5 149.0 14%Compensation and other expenses: Variable compensation and benefits54.6 47.7 14%Fixed compensation and benefits49.4 41.4 19%Trading systems and market information10.4 9.2 13%...