Business
INTL FCStone Inc. Reports Fiscal 2020 Second Quarter Financial Results
Record Quarterly Operating Revenues of $366.8 million, up 35% Record Quarterly Net Income of $39.3 million, up 68% EPS of $2.00 per share, ROE of 24.9% NEW
About this update from Stonex Group Inc.
[{"type":"text","content":"Record Quarterly Operating Revenues of $366.8 million, up 35%\n Record Quarterly Net Income of $39.3 million, up 68% EPS of $2.00 per share, ROE of 24.9% NEW YORK, May 06, 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 second quarter ended March 31, 2020. Sean M. O’Connor, CEO of INTL FCStone Inc., stated, “We managed to navigate the unprecedented market volatility and produce record results at nearly every level which is validation of our business model, our client first philosophy and our risk management approach. Our focus is to remain vigilant as we continue to see volatility and market dislocations, while at the same time helping our clients to manage their way through these markets. Longer term we see headwinds related to lower interest rates which may be offset by higher volatility and the opportunity to increase market share as the industry continues to consolidate. We look forward to closing the Gain Capital transaction as we enhance and expand our financial platform and client base.” 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 March 31, Six Months Ended March 31,(Unaudited) (in millions, except share and per share amounts)2020 2019 % Change 2020 2019 % ChangeRevenues: Sales of physical commodities$20,016.9 $6,929.5 189% $30,994.9 $13,225.3 134%Principal gains, net168.5 110.3 53% 281.0 203.1 38%Commission and clearing fees116.6 85.1 37% 203.8 184.6 10%Consulting, management and account fees22.6 19.1 18% 43.9 38.2 15%Interest income41.7 48.2 (13)% 87.7 93.2 (6)%Total revenues20,366.3 7,192.2 183% 31,611.3 13,744.4 130%Cost of sales of physical commodities19,999.5 6,921.1 189% 30,967.7 13,208.6 134%Operating revenues366.8 271.1 35% 643.6 535.8 20%Transaction-based clearing expenses63.8 42.7 49% 110.1 92.8 19%Introducing broker commissions29.6 24.8 19% 55.8 57.4 (3)%Interest expense30.0 38.4 (...