Business
StoneX Group Inc. Reports Fiscal 2021 Fourth Quarter Financial Results
Quarterly Operating Revenues of $390.1 million, up 14% Quarterly Net Income of $7.3 million, ROE of 3.2% Annual Net Income of $116.3 million, ROE of 13.9% NEW
About this update from Stonex Group Inc.
[{"type":"text","content":"Quarterly Operating Revenues of $390.1 million, up 14% Quarterly Net Income of $7.3 million, ROE of 3.2% Annual Net Income of $116.3 million, ROE of 13.9% NEW YORK, Nov. 29, 2021 (GLOBE NEWSWIRE) -- StoneX Group Inc. (the “Company”; NASDAQ: SNEX), a diversified global brokerage and financial services firm providing execution, risk management and advisory services, market intelligence and clearing services across multiple asset classes and markets around the world, today announced its financial results for the fiscal year 2021 fourth quarter ended September 30, 2021. Sean M. O’Connor, CEO of StoneX Group Inc., stated, “Although our fourth quarter earnings were below our long-term target, we were pleased to see that for the fiscal year we achieved record operating revenues and a 13.9% ROE. Last year included the significant non-recurring gain on our acquisition of Gain Capital Holdings, Inc. (“Gain”), adjusting for that we saw that our core operating performance exceeded fiscal 2020, with adjusted net income up 24% and an adjusted ROE of 14.9%.\" StoneX Group Inc. Summary Financials Consolidated financial statements for the Company will be included in our Annual Report on Form 10-K to be filed with the Securities and Exchange Commission (“SEC”). The Annual Report on Form 10-K will also be made available on the Company’s website at www.stonex.com. Three Months Ended September 30, Year Ended September 30,(Unaudited) (in millions, except share and per share amounts)2021 2020 % Change 2021 2020 % ChangeRevenues: Sales of physical commodities$11,487.9 $13,959.8 (18)% $40,961.6 $52,899.2 (23)%Principal gains, net191.3 180.2 6 % 892.0 622.2 43 %Commission and clearing fees114.0 103.7 10 % 487.2 403.6 21 %Consulting, management, and account fees23.6 20.4 16 % 91.0 83.7 9 %Interest income30.0 20.8 44 % 102.4 130.9 (22)%Total revenues11,846.8 14,284.9 (17)% 42,534.2 54,139.6 (21)%Cost of sales of physical commodities11,456.7 13,942.8 (18)% 40,861.1 52,831.3 (23)%Operating revenues390.1 342.1 14 % 1,673.1 1,308.3 28 %Transaction-based clearing expenses64.4 57.1 13 % 271.7 222.5 22 %Introducing broker commissions39.7 34.0 17 % 160.5 113.8 41 %Interest expense14.1 10.0 41 % 49.6 80.4 (38)%Interest expense on corporate funding10.2 14.8 (31)% 41.3 23.6 75 %Net operating revenues261.7 226.2 16 % 1,150.0 868.0 32 %Compensation and other expenses: ...