Business
StoneX Group Inc. Reports Fiscal 2020 Third Quarter Financial Results
Quarterly Operating Revenues of $322.6 million, up 14% Quarterly Net Income of $36.6 million, up 125% Diluted EPS of $1.87 per share, ROE of 21.9% NEW YORK,
About this update from Stonex Group Inc.
[{"type":"text","content":"Quarterly Operating Revenues of $322.6 million, up 14%\n Quarterly Net Income of $36.6 million, up 125% Diluted EPS of $1.87 per share, ROE of 21.9% NEW YORK, Aug. 06, 2020 (GLOBE NEWSWIRE) -- StoneX Group Inc. (the ‘Company’; NASDAQ: SNEX), 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 third quarter ended June 30, 2020. Sean M. O’Connor, CEO of StoneX Group Inc., stated, “We continued to navigate the unprecedented market volatility and produced an outstanding financial result with ROE of 21.9% for the quarter and 19.2% for the year-to-date period. We were excited to recently announce the closing of the acquisition of Gain Capital Holdings, Inc., which reported strong earnings in its last quarter as an independent company. We believe this transaction will be accretive both financially and strategically, enhancing and accelerating our goal of becoming the best in class platform connecting clients to global markets across asset classes with integrated execution and clearing capabilities. Longer term we see headwinds relating to continued low short-term interest rates with the potential offsets of heightened volatility and the opportunity to increase market share as the industry continues to consolidate.” The Company will discuss the acquisition of Gain Capital Holdings, Inc. (“Gain”) on its upcoming third quarter earnings call. Glenn Stevens, CEO of Gain, will also participate in the call and discuss Gain’s previously released second quarter 2020 financial results. StoneX Group Inc. Summary Financials Condensed 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.stonex.com. Three Months Ended June 30, Nine Months Ended June 30,(Unaudited) (in millions, except share and per share amounts)2020 2019 % Change 2020 2019 % ChangeRevenues: Sales of physical commodities$7,944.5 $7,599.3 5% $38,939.4 $20,824.6 87%Principal gains, net161.0 102.3 57% 442.0 305.4 45%Commission and clearing fees96.1 97.5 (1)% 299.9 282.1 6%Consulting, management and account fees19....