Business
StoneX Group Inc. Reports Fiscal 2024 Second Quarter Financial Results
Quarterly Operating Revenues of $818.2 million, up 16% Quarterly Net Income of $53.1 million, ROE of 14.0% Quarterly Diluted EPS of $1.63 per share, up 25%
About this update from Stonex Group Inc.
[{"type":"text","content":"Quarterly Operating Revenues of $818.2 million, up 16% Quarterly Net Income of $53.1 million, ROE of 14.0% Quarterly Diluted EPS of $1.63 per share, up 25% NEW YORK, May 08, 2024 (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 2024 second quarter ended March 31, 2024. Sean M. O’Connor, the Company’s CEO, stated, “We are reporting solid results for our second fiscal quarter due in large part to the diversification of both our product offering and client base, with net income of $53.1 million, up 27% versus the prior year quarter, and diluted EPS of $1.63, representing a 14.0% return on equity for the quarter and 17.4% for the trailing twelve months. These results included $9.1 million in unrealized losses, or approximately $0.20 per share, on derivative positions held against precious metals inventories carried at cost, which are short term in nature and will be reversed in subsequent quarters when these inventories are sold. We are well-positioned to continue to deliver superior returns to our shareholders 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 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 March 31, Six Months Ended March 31,(Unaudited) (in millions, except share and per share amounts) 2024 2023 %Change 2024 2023 %ChangeRevenues: Sales of physical commodities$21,321.9 $15,506.2 38% $40,142.8 $27,909.6 44%Principal gains, net 281.8 256.6 10% 575.6 510.8 13%Commission and clearing fees 136.2 130.7 4% 265.9 248.7 7%Consulting, management, and account fees 40.2 40.7 (1)% 78.7 80.5 (2)%Interest income 326.0 226.8 44% 616.1 423.0 46%Total revenues 22,106.1 16,161.0 37% 41,679.1 29,172.6 43%Cost of sales of physical commodities 21,287.9 15,456.6 38% 40,076.7 27,813.4 44%Operating revenues 818.2 704.4 16% 1,602.4 1,359.2 18%Transacti...