Business
StoneX Group Inc. Reports Fiscal 2023 Third Quarter Financial Results
Quarterly Operating Revenues of $776.9 million, up 47% Quarterly Net Income of $69.5 million, ROE of 21.6% Quarterly Diluted EPS of $3.25 per share NEW YORK,
About this update from Stonex Group Inc.
[{"type":"text","content":"Quarterly Operating Revenues of $776.9 million, up 47% Quarterly Net Income of $69.5 million, ROE of 21.6% Quarterly Diluted EPS of $3.25 per share NEW YORK, Aug. 02, 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 third quarter ended June 30, 2023. Sean M. O’Connor, the Company’s CEO, stated, “We achieved one of the strongest quarters in our history with operating revenues up 47%, diluted EPS up 37% and record adjusted net income of $71.8 million. These excellent results were achieved with solid transactional revenues, despite moderating volatility, and increased interest earnings on our client float. We believe that our financial performance continues to be a positive outlier in our industry and we are well-positioned to continue delivering strong results to our shareholders.” 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 June 30, Nine Months Ended June 30,(Unaudited) (in millions, except share and per share amounts)2023 2022 % Change 2023 2022 % ChangeRevenues: Sales of physical commodities$14,319.2 $18,431.0 (22)% $42,228.8 $48,214.1 (12)%Principal gains, net 300.0 295.2 2% 810.8 869.8 (7)%Commission and clearing fees 126.8 126.9 —% 375.5 381.6 (2)%Consulting, management, and account fees 39.2 27.7 42% 119.7 77.2 55%Interest income 262.7 50.1 424% 685.7 112.3 511%Total revenues 15,047.9 18,930.9 (21)% 44,220.5 49,655.0 (11)%Cost of sales of physical commodities 14,271.0 18,402.1 (22)% 42,084.4 48,131.0 (13)%Operating revenues 776.9 528.8 47% 2,136.1 1,524.0 40%Transaction-based clearing expenses 66.7 74.7 (11)% 203.2 222.1 (9)%Introducing broker commissions 43.4 41.2 5% 122.4 122.7 —%Interest expense 216.0 28.1 669% 549.0 57.9 848%Interest expense on corporate funding 14.9 10.7 39% 44.2 33...