Business
StoneX Group Inc. Reports Fiscal 2024 Third Quarter Financial Results
Quarterly Operating Revenues of $913.7 million, up 18% Record Net Operating Revenues of $468.5 million, up 7% Quarterly Net Income of $61.9 million, ROE of
About this update from Stonex Group Inc.
[{"type":"text","content":"Quarterly Operating Revenues of $913.7 million, up 18% Record Net Operating Revenues of $468.5 million, up 7% Quarterly Net Income of $61.9 million, ROE of 15.7% Quarterly Diluted EPS of $1.88 per share, down 13% NEW YORK, Aug. 06, 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 third quarter ended June 30, 2024. Sean M. O’Connor, the Company’s CEO, stated, “We achieved record net operating revenues this quarter as we experienced continued strong client engagement with increased volumes across nearly all of our operating segments and products despite low volatility and difficult trading conditions. For the fiscal third quarter, net income was $61.9 million, an 11% decline versus a strong prior year quarter with diluted EPS of $1.88, representing a 15.7% return on equity for the quarter and 16.0% for the trailing twelve months, exceeding our 15% targeted ROE. We believe our expanding global footprint and diversified product offering positions us to deliver superior service to our clients and returns to our shareholders and are well poised to benefit from increased volatility and better trading conditions.” 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) 2024 2023 % Change 2024 2023 % ChangeRevenues: Sales of physical commodities$26,196.2 $14,319.2 83% $66,339.0 $42,228.8 57%Principal gains, net 305.6 300.0 2% 881.2 810.8 9%Commission and clearing fees 143.0 126.8 13% 408.9 375.5 9%Consulting, management, and account fees 45.3 39.2 16% 124.0 119.7 4%Interest income 379.6 262.7 44% 995.7 685.7 45%Total revenues 27,069.7 15,047.9 80% 68,748.8 44,220.5 55%Cost of sales of physical commodities 26,156.0 14,...