Business
StoneX Group Inc. Reports Fiscal 2023 First Quarter Financial Results
Quarterly Operating Revenues of $654.8 million, up 45% Quarterly Net Income of $76.6 million, ROE of 27.3% Quarterly Diluted EPS of $3.62 per share, up 77%
About this update from Stonex Group Inc.
[{"type":"text","content":"Quarterly Operating Revenues of $654.8 million, up 45% Quarterly Net Income of $76.6 million, ROE of 27.3% Quarterly Diluted EPS of $3.62 per share, up 77% NEW YORK, Feb. 07, 2023 (GLOBE NEWSWIRE) -- StoneX Group Inc. (the “Company”; NASDAQ: SNEX), a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise, today announced its financial results for the fiscal year 2023 first quarter ended December 31, 2022. Sean M. O’Connor, the Company’s CEO, stated, “We achieved very strong results in the fiscal first quarter 2023, delivering increases in operating revenues and net income, which resulted in a diluted EPS of $3.62 and an ROE of 27.3% for the quarter. These results included a $23.5 million non-taxable gain on the acquisition of CDI, which contributed $1.11 of earnings per diluted share, and a significant increase in interest income, reflecting the growth in our client assets and the higher interest rate environment. While trading conditions moderated towards the end of the first quarter, the multiple drivers of our results, including our disciplined approach to acquisitions, the strong growth in client assets and our core operating performance, exemplify the diversity in our operating model. We believe that these multiple drivers and our ongoing investments position us to continue to empower our clients, drive growth and deliver shareholder value.” 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 Securities and Exchange Commission (the “SEC”). Upon filing, the Quarterly Report on Form 10-Q will also be made available on the Company’s website at www.stonex.com. Three Months Ended December 31,(Unaudited) (in millions, except share and per share amounts) 2022 2021 % ChangeRevenues: Sales of physical commodities$12,403.4 $13,918.9 (11)%Principal gains, net 254.2 251.1 1%Commission and clearing fees 118.0 116.3 1%Consulting, management, and account fees 39.8 24.1 65%Interest income 196.2 31.0 533%Total revenues 13,011.6 14,341.4 (9)%Cost of sales of physical commodities 12,356.8 13,890.9 (11)%Operating revenues 654.8 450.5 45%Tra...