Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. BGC Group (BGC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out. BGC Group is a member of our Finance group, which includes 854 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges t ...

Core Viewpoint - The article emphasizes the importance of confirming the sustainability of stock trends for profitable short-term investing, highlighting the need for sound fundamentals and positive earnings estimates to maintain momentum. Group 1: Investment Strategy - The trend is a crucial factor in short-term investing, and confirming its sustainability is essential for profitability [1][2] - A predefined "Recent Price Strength" screen can help identify stocks on an uptrend supported by strong fundamentals [3] Group 2: Company Analysis - BGC Group - BGC Group (BGC) has shown a solid price increase of 23.1% over the past 12 weeks, indicating investor confidence in its potential upside [4] - The stock has also increased by 6.9% over the last four weeks, suggesting that the upward trend is still intact [5] - BGC is trading at 91.7% of its 52-week high-low range, indicating a potential breakout [5] Group 3: Fundamental Strength - BGC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6] - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting strong optimism from the brokerage community regarding its near-term performance [7] Group 4: Additional Insights - The article suggests that BGC's price trend is unlikely to reverse soon, and there are other stocks that also meet the "Recent Price Strength" criteria [8] - The Zacks Research Wizard can assist in backtesting stock-picking strategies to ensure past profitability [9]

Webcast Available for Investors NEW YORK, May 23, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) today announced that its Chairman and CEO, Howard W. Lutnick, is scheduled to present at the Piper Sandler Global Exchange & Trading Conference at 11:00 a.m. ET on Wednesday, June 5, 2024. A live webcast of the event will be made available at http://ir.bgcg.com. A replay of the event will also be made available at the same site for a period of 180 days after the conference. Statements made during the webcast ...

PART I—FINANCIAL INFORMATION [Glossary of Terms, Abbreviations and Acronyms](index=3&type=section&id=Glossary%20of%20Terms%2C%20Abbreviations%20and%20Acronyms) This section provides definitions for key terms, abbreviations, and acronyms used throughout the report, covering entities, financial instruments, regulatory bodies, and internal company terminology to ensure clarity and understanding of the document's content - Key defined terms include BGC Group (the public holding company post-Corporate Conversion), Cantor (Cantor Fitzgerald, L.P.), Corporate Conversion (the reorganization into a Full C-Corporation effective July 1, 2023), and Fenics (BGC's group of electronic brands)[50](index=50&type=chunk)[51](index=51&type=chunk)[78](index=78&type=chunk) - The glossary defines various senior notes issued by both BGC Partners and BGC Group, detailing their respective interest rates and maturity dates, and clarifies the relationship between them following the Exchange Offer[50](index=50&type=chunk)[54](index=54&type=chunk) - FMX (Fenics Markets Exchange, LLC) is defined as the entity holding BGC's fully electronic U.S. treasuries and futures business, with FMX Equity Partners being the group of banks that invested in FMX in April 2024[60](index=60&type=chunk)[81](index=81&type=chunk) [SPECIAL NOTE ON FORWARD-LOOKING INFORMATION](index=15&type=section&id=SPECIAL%20NOTE%20ON%20FORWARD-LOOKING%20INFORMATION) This section cautions readers that the report contains forward-looking statements based on current expectations, which are subject to various risks and uncertainties. It lists numerous factors that could cause actual results to differ materially, including macroeconomic conditions, market volatility, regulatory changes, and competition - The company identifies forward-looking statements with words like "may," "will," "should," "expects," and similar expressions[136](index=136&type=chunk) - Key risk factors that could affect future results include macroeconomic challenges (wars, inflation, interest rates), market volatility, ability to access capital markets, and the successful development of new products like Fenics platforms[136](index=136&type=chunk) - Other significant risks include relationships and transactions with Cantor, integration of acquired businesses, international market risks, extensive regulation, and dependence on key employees[106](index=106&type=chunk) [ITEM 1. FINANCIAL STATEMENTS](index=20&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) This section presents the unaudited condensed consolidated financial statements for BGC Group, Inc. as of March 31, 2024, and for the three-month period then ended. It includes the statements of financial condition, operations, comprehensive income, cash flows, and changes in equity, along with detailed notes explaining the basis of presentation and significant accounting policies [Condensed Consolidated Statements of Financial Condition](index=20&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Condition) The company's total assets increased to **$4.38 billion** as of March 31, 2024, from **$3.18 billion** at December 31, 2023, primarily driven by a significant rise in receivables from broker-dealers. Total liabilities also grew to **$3.45 billion** from **$2.28 billion**, largely due to increased payables to broker-dealers and new short-term borrowings from related parties. Total equity saw a slight increase to **$924.9 million** Condensed Consolidated Statements of Financial Condition (in thousands) | | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $566,791 | $655,641 | | Receivables from broker-dealers, clearing organizations, customers and related broker-dealers | $1,517,757 | $350,036 | | Goodwill | $506,548 | $506,344 | | **Total assets** | **$4,375,652** | **$3,175,937** | | **Liabilities** | | | | Short-term borrowings from related parties | $275,000 | $— | | Payables to broker-dealers, clearing organizations, customers and related broker-dealers | $1,339,095 | $202,266 | | Notes payable and other borrowings | $944,961 | $1,183,506 | | **Total liabilities** | **$3,450,781** | **$2,277,781** | | **Total equity** | **$924,871** | **$898,156** | [Condensed Consolidated Statements of Operations](index=21&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended March 31, 2024, total revenues increased to **$578.6 million** from **$532.9 million** in the prior-year period, driven by higher commissions. Total expenses also rose to **$548.1 million** from **$500.0 million**, primarily due to increased compensation. A significant increase in 'Other income' to **$38.8 million** led to a substantial rise in consolidated net income to **$49.0 million**, compared to **$21.2 million** in Q1 2023. Fully diluted EPS was **$0.10**, up from **$0.05** Condensed Consolidated Statements of Operations (in thousands) | | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | **Total revenues** | **$578,614** | **$532,867** | | Commissions | $415,172 | $377,288 | | Principal transactions | $112,849 | $114,929 | | **Total expenses** | **$548,068** | **$499,963** | | Total compensation and employee benefits | $386,923 | $348,587 | | Interest expense | $20,136 | $15,742 | | **Total other income (losses), net** | **$40,552** | **$327** | | Income (loss) from operations before income taxes | $71,098 | $33,231 | | **Consolidated net income (loss)** | **$49,041** | **$21,170** | | **Net income (loss) available to common stockholders** | **$49,210** | **$18,978** | | **Fully diluted earnings (loss) per share** | **$0.10** | **$0.05** | [Notes to Condensed Consolidated Financial Statements](index=25&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations of the accounting policies and methodologies applied in the financial statements. It covers key areas such as the company's corporate conversion, acquisitions, stock transactions, financial instruments, related party transactions, debt structure, compensation, contingencies, and segment information, offering deeper insight into the figures presented in the primary financial statements - On July 1, 2023, the company completed its Corporate Conversion to a Full C-Corporation, simplifying its organizational structure. BGC Group, Inc. became the public holding company, and BGC Partners became a wholly owned subsidiary[156](index=156&type=chunk)[187](index=187&type=chunk) - As part of the Corporate Conversion, non-exchangeable limited partnership units of BGC Holdings were converted into equity awards of BGC Group, including **38.6 million restricted stock awards**, **25.3 million RSUs**, and **$74.0 million of RSU Tax Accounts**. No limited partnership units of BGC Holdings remained after the conversion[160](index=160&type=chunk) - The company did not complete any acquisitions in the three months ended March 31, 2024. In 2023, it acquired Trident, ContiCap, and Open Energy Group for a total consideration of approximately **$71.0 million**, resulting in goodwill of **$18.4 million**[225](index=225&type=chunk)[229](index=229&type=chunk) - During Q1 2024, the company repurchased **11.2 million shares** of Class A common stock for **$80.0 million** at a weighted-average price of **$7.11 per share**. As of March 31, 2024, **$264.6 million** remained under its share repurchase authorization[212](index=212&type=chunk)[255](index=255&type=chunk) - On March 12, 2024, the company borrowed **$275.0 million** from Cantor under the BGC Credit Agreement and used the proceeds to repay all **$240.0 million** of borrowings outstanding under its Revolving Credit Agreement[286](index=286&type=chunk)[312](index=312&type=chunk) [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=80&type=section&id=ITEM%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) This section provides management's perspective on the company's financial condition and results of operations for the first quarter of 2024. It details the business environment, including the impact of the Corporate Conversion and the FMX investment. The analysis breaks down revenue and expense drivers, discusses liquidity and capital resources, and outlines capital deployment priorities. It also covers the company's organizational structure and critical accounting policies - Total revenues for Q1 2024 increased **8.6%** year-over-year to **$578.6 million**, driven by a **7.3%** growth in brokerage revenues, particularly in Energy, Commodities, and Shipping (**+32.1%**) and Rates (**+6.3%**)[612](index=612&type=chunk) - The FMX electronic platform received a **$171.7 million** investment from FMX Equity Partners in April 2024 for a **25.75%** ownership interest, valuing the platform at **$666.7 million**. FMX Futures Exchange is expected to launch in September 2024[571](index=571&type=chunk)[374](index=374&type=chunk) - Fenics businesses revenues increased **6.4%** to a record **$149.3 million** in Q1 2024. Fenics Growth Platforms revenue grew **26.2%** to **$21.9 million**, driven by FMX UST, PortfolioMatch, Lucera, and Capitalab[574](index=574&type=chunk) - The company's liquidity position decreased by **$85.7 million** to **$615.7 million** as of March 31, 2024, primarily due to share repurchases (**$68.6 million**), working capital movements, and investments, partially offset by net borrowings and cash from operations[419](index=419&type=chunk) - Capital allocation priorities are returning capital to stockholders and investing in business growth. The company repurchased **11.3 million shares** in Q1 2024 and declared a quarterly dividend of **$0.02 per share**[459](index=459&type=chunk)[371](index=371&type=chunk) [Results of Operations](index=91&type=section&id=Results%20of%20Operations) For Q1 2024, total revenues grew **8.6%** to **$578.6 million**, driven by a **10.0%** increase in commission revenues. Brokerage revenues rose **7.3%**, led by strong performance in Energy, Commodities, and Shipping (**+32.1%**) and Rates (**+6.3%**). Total expenses increased **9.6%**, with compensation expenses up **8.8%** and equity-based compensation up **18.1%**. A significant gain on investments led to a **$40.5 million** increase in 'Other income,' boosting pre-tax income to **$71.1 million** from **$33.2 million** in the prior year Brokerage Revenues by Product (in thousands) | Product | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | Rates | $175,085 | $164,737 | 6.3% | | Energy, Commodities, and Shipping | $118,464 | $89,659 | 32.1% | | FX | $84,023 | $80,158 | 4.8% | | Credit | $87,592 | $89,549 | -2.2% | | Equities | $62,857 | $68,114 | -7.7% | | **Total brokerage revenues** | **$528,021** | **$492,217** | **7.3%** | - Total compensation and employee benefits increased by **$38.3 million** (**11.0%**) to **$386.9 million**, primarily due to higher commission-based compensation and a **$14.7 million** increase in equity-based compensation expense[354](index=354&type=chunk)[355](index=355&type=chunk) - Other income increased by **$40.5 million**, driven by a **$36.6 million** unrealized gain from fair value adjustments on investments carried under the measurement alternative[385](index=385&type=chunk) - The provision for income taxes increased by **$10.0 million** to **$22.1 million**, primarily due to higher pre-tax earnings and a change in the geographical mix of earnings[386](index=386&type=chunk) [Liquidity and Capital Resources](index=96&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2024, the company's liquidity stood at **$615.7 million**, a decrease from **$701.4 million** at year-end 2023, mainly due to share repurchases and investments. The company's funding base consists of equity, notes payable, and short-term liabilities. Key financing activities included borrowing **$275.0 million** under the BGC Credit Agreement to repay **$240.0 million** on its Revolving Credit Agreement. The company maintains investment-grade credit ratings and has a **$50.0 million** debt repurchase program authorized Liquidity Analysis (in thousands) | Component | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $566,791 | $655,641 | | Financial instruments owned, at fair value | $48,905 | $45,792 | | **Total Liquidity** | **$615,696** | **$701,433** | - On April 26, 2024, the company amended and restated its Revolving Credit Agreement, extending the maturity to April 26, 2027, and providing the right to increase the facility up to **$475.0 million**[373](index=373&type=chunk)[398](index=398&type=chunk) - The company's **3.750% Senior Notes** (**$255.5 million** BGC Group and **$44.5 million** BGC Partners) are due on October 1, 2024. The company intends to refinance or use cash/credit facilities to settle the amounts[404](index=404&type=chunk) - The company maintains investment-grade credit ratings from Fitch (**BBB-**), S&P (**BBB-**), Japan Credit Rating Agency (**BBB+**), and Kroll (**BBB**), all with a stable outlook[421](index=421&type=chunk) [QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](index=115&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) This section details the company's exposure to various market risks, including credit, principal transaction, market, operational, foreign currency, and interest rate risks. The company employs policies to manage credit risk through a thorough approval and monitoring process. Market risk from principal transactions is mitigated by strict limits and short holding periods. A **10%** strengthening of the U.S. dollar against the euro and pound sterling would negatively impact net income by approximately **$27.8 million**, while a **1%** increase in interest rates would cause a minor decline in net earnings - Credit risk is managed through a credit approval process that includes verification, credit reviews, and setting trading limits. The company primarily faces counterparty risk from matched principal trades and brokerage fee receivables[473](index=473&type=chunk)[475](index=475&type=chunk) - Market risk from unmatched principal positions is managed with strict risk limits, short holding periods, and hedging. As of March 31, 2024, the company held **$48.9 million** in financial instruments owned at fair value[485](index=485&type=chunk) - A **10%** strengthening of the U.S. dollar against the euro and pound sterling as of March 31, 2024, would have resulted in an estimated negative impact of **$27.8 million** on net income[487](index=487&type=chunk) - A **1%** increase in interest rates would have caused a decline of approximately **$0.6 million** in consolidated net earnings for the quarter ended March 31, 2024[488](index=488&type=chunk) [CONTROLS AND PROCEDURES](index=118&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2024. Additionally, no changes in internal control over financial reporting occurred during the first quarter of 2024 that have materially affected, or are reasonably likely to materially affect, these controls - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2024[489](index=489&type=chunk) - There were no material changes to the company's internal control over financial reporting during the first quarter of 2024[490](index=490&type=chunk) PART II—OTHER INFORMATION [LEGAL PROCEEDINGS](index=119&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) This section references Note 19 of the financial statements and the MD&A for details on legal proceedings. Key matters include the final decision in favor of the company regarding the 2017 Berkeley Point acquisition, a purported class action by former limited partners alleging breach of contract and antitrust violations, and a shareholder lawsuit challenging the fairness of the Corporate Conversion - On August 10, 2023, a shareholder derivative suit concerning the 2017 acquisition of Berkeley Point was fully and finally decided in favor of the defendants, with the court finding the transaction was entirely fair[437](index=437&type=chunk) - A class action complaint was filed on March 9, 2023, by former limited partners alleging breach of contract and antitrust violations related to non-compete and forfeiture provisions. The company believes the lawsuit has no merit[437](index=437&type=chunk) - A shareholder lawsuit was filed on February 16, 2024, against Cantor Fitzgerald, LP and Howard W. Lutnick, asserting the Corporate Conversion was unfair to Class A shareholders. The company is not a party but believes the action lacks merit[438](index=438&type=chunk) [RISK FACTORS](index=119&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company states that there have been no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2023 - No material changes to risk factors were reported since the filing of the 2023 Annual Report on Form 10-K[494](index=494&type=chunk) [UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS](index=119&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) This section details the company's share repurchase activity for the quarter ended March 31, 2024. A total of **11.25 million shares** were repurchased at a weighted-average price of **$7.11 per share**. As of March 31, 2024, approximately **$264.6 million** remained available under the company's **$400.0 million** repurchase authorization Share Repurchases for Q1 2024 (in thousands) | Period | Total Shares Repurchased | Weighted-Average Price per Share | | :--- | :--- | :--- | | January 2024 | 3,609 | $6.95 | | February 2024 | 6,586 | $7.02 | | March 2024 | 1,055 | $8.23 | | **Total** | **11,250** | **$7.11** | - The total number of repurchased shares includes **1.4 million shares** withheld to satisfy tax liabilities upon the vesting of restricted stock[495](index=495&type=chunk) - As of March 31, 2024, approximately **$264.6 million** remained available for repurchase under the **$400.0 million** program authorized on July 1, 2023[495](index=495&type=chunk) [OTHER INFORMATION](index=119&type=section&id=ITEM%205.%20OTHER%20INFORMATION) This section reports that no directors or executive officers adopted or terminated a Rule 10b5-1 trading arrangement during the quarter. It also announces that the 2024 Annual Meeting of Stockholders is scheduled for September 18, 2024, and provides the deadline of June 4, 2024, for stockholder proposals - No directors or executive officers adopted or terminated a Rule 10b5-1 trading arrangement in Q1 2024[498](index=498&type=chunk) - The 2024 Annual Meeting of Stockholders is set for September 18, 2024. The deadline for stockholder proposals to be included in the proxy statement is June 4, 2024[500](index=500&type=chunk)

The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is BGC Group (BGC) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.BGC Group is a member of the Finance sector. This group includes 856 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank includes 16 different groups and is ...

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

BGC Group, Inc. (NASDAQ:BGC) Q1 2024 Earnings Conference Call April 30, 2024 10:00 AM ET Company Participants Jason Chryssicas - Head of Investor Relations Howard Lutnick - Chairman of the Board & Chief Executive Officer Sean Windeatt - COO & Co-Global Head of Brokerage Jason Hauf - Executive Vice President & Chief Financial Officer Conference Call Participants Patrick Moley - Piper Sandler Operator Greetings, and welcome to the BGC Group First Quarter 2024 Earnings Conference Call. At this time, all partic ...

BGC GROUP, INC. NASDAQ: BGC EARNINGS PRESENTATION Q1 2024 ¯bgc 2 DISCLAIMER DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT BGC Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking ...

BGC Group (BGC) came out with quarterly earnings of $0.25 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this brokerage company would post earnings of $0.20 per share when it actually produced earnings of $0.21, delivering a surprise of 5%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.BGC Group, which belongs to th ...

EXHIBIT 99.1 NEW YORK – April 30, 2024 – BGC Group, Inc. (Nasdaq: BGC) today reported its financial results for the quarter ended March 31, 2024.' | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------|-------------|--------|--------|--------| | SELECT FINANCIAL RESULTS Highlights of Consolidated Results (USD millions) | | 1Q24 | 1Q23 | Change | | Revenues | | $578.6 | $532.9 | 8.6% | | GAAP income from operations before income taxes | | ...