Business
StoneX Group Inc. Reports Fiscal 2021 Second Quarter Financial Results
Record Quarterly Operating Revenues of $471.4 million, up 29% Quarterly Net Income of $55.3 million, up 41% Quarterly Diluted EPS of $2.73 per share, ROE of
About this update from Stonex Group Inc.
[{"type":"text","content":"Record Quarterly Operating Revenues of $471.4 million, up 29% Quarterly Net Income of $55.3 million, up 41% Quarterly Diluted EPS of $2.73 per share, ROE of 26.7% NEW YORK, May 10, 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 second quarter ended March 31, 2021. Sean M. O’Connor, CEO of StoneX Group Inc., stated, “I believe this quarter represents the strongest core operating performance in our history, with record operating revenues, a 41% increase in net income versus the prior year and a 26.7% ROE on stated book value. This quarter demonstrates our efforts to build a diversified global franchise with growth in operating revenues and income across all of our operating segments. We continue to increase both our number of clients and their underlying volumes, which we feel positions us for success in the future.” StoneX Group 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.stonex.com. Three Months Ended March 31, Six Months Ended March 31,(Unaudited) (in millions, except share and per share amounts)2021 2020 % Change 2021 2020 % ChangeRevenues: Sales of physical commodities$10,804.3 $20,016.9 (46)% $19,687.8 $30,994.9 (36)%Principal gains, net265.2 168.5 57 % 468.6 281.0 67 %Commission and clearing fees129.8 116.6 11 % 249.2 203.8 22 %Consulting, management, and account fees22.1 22.6 (2)% 45.1 43.9 3 %Interest income23.4 41.7 (44)% 44.6 87.7 (49)%Total revenues11,244.8 20,366.3 (45)% 20,495.3 31,611.3 (35)%Cost of sales of physical commodities10,773.4 19,999.5 (46)% 19,643.8 30,967.7 (37)%Operating revenues471.4 366.8 29 % 851.5 643.6 32 %Transaction-based clearing expenses74.8 63.8 17 % 140.2 110.1 27 %Introducing broker commissions40.8 29.6 38 % 79.0 55.8 42 %Interest expense11.1 27.8 (60)% 21.0 58.9 (64)%Interest expense on corporate funding10.5 2.2 377 % 21.0 4.9 329 %Net operating revenues334.2 243.4 37 % 590.3 413.9 43 ...