NEW YORK, Aug. 26, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) ("BGC" or the "Company") today announced an offer to exchange up to $500 million aggregate principal amount of its outstanding 6.600% Senior Notes due 2029 (the "Old Notes") for an equivalent amount of its 6.600% Senior Notes due 2029 registered under the Securities Act of 1933, as amended (the "Exchange Notes"). $500 million aggregate principal amount of Old Notes were issued and sold by the Company in June 2024 in a private offering. Th ...

To be held on Monday, September 16, 2024, at 10:00 a.m. ET NEW YORK, Aug. 13, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) today announced details on its annual meeting of stockholders, which will be held virtually at 10:00 a.m. ET on Monday, September 16, 2024. A live audio webcast of the virtual shareholders meeting will be available at http://ir.bgcg.com or directly at www.virtualshareholdermeeting.com/BGC2024. The webcast archive will be available for 365 days, beginning September 16, 2024. Statem ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________ Class A Common Stock, $0.01 par value BGC The Nasdaq Stock Market, LLC FORM 10-Q _________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | |--------------------- ...

BGC Group, Inc. (NASDAQ:BGC) Q2 2024 Earnings Conference Call July 30, 2024 10:00 AM ET Company Participants Jason Chryssicas - Head of IR Howard Lutnick - Chairman of the Board & CEO Sean Windeatt - COO & Co-Global Head of Brokerage Jason Hauf - EVP & CFO Conference Call Participants Patrick Moley - Piper Sandler Operator Greetings. Welcome to BGC Group Incorporated Second Quarter 2024 Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the form ...

BGC GROUP, INC. NASDAQ: BGC EARNINGS PRESENTATION Q2 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 ...

Company Performance - BGC Group shares have increased by approximately 28.7% since the beginning of the year, outperforming the S&P 500's gain of 14.5% [1] - The company reported quarterly earnings of $0.23 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.20 per share a year ago [2] - BGC Group posted revenues of $550.76 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 1.06% and up from $493.08 million year-over-year [9] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.22 on revenues of $534.1 million, and for the current fiscal year, it is $0.92 on revenues of $2.2 billion [12] - The consensus EPS estimate for the upcoming report is projected at $0.15, reflecting a year-over-year change of +400%, with a 12.2% upward revision over the last 30 days [13] Industry Context - The Zacks Industry Rank for Financial - Investment Bank is currently in the bottom 32% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [6] - The performance of BGC Group's stock may be influenced by the overall industry outlook, as top-ranked industries tend to outperform the bottom-ranked ones by a factor of more than 2 to 1 [6]

Financial Performance - BGC reported revenues of $550.8 million for Q2 2024, an increase of 11.7% compared to $493.1 million in Q2 2023[20] - GAAP net income for fully diluted shares was $36.1 million, a significant improvement from a loss of $19.7 million in the same quarter last year, representing a 283.1% increase[3] - Adjusted EBITDA grew by 20.2% to $162.4 million, reflecting strong profitability across all earnings metrics[5] - Total revenues for Q2 2024 were $550.8 million, up from $493.1 million in Q2 2023, representing an increase of 11.7%[32] - Consolidated net income for Q2 2024 was $37.2 million, compared to a loss of $22.2 million in Q2 2023[32] - Adjusted Earnings for Q2 2024 showed a pre-tax increase of 13.1% in compensation and employee benefits, totaling $272.0 million compared to $240.4 million in Q2 2023[24] - Brokerage revenues for Q2 2024 were $493.5 million, an increase of 11.3% from $443.6 million in Q2 2023[78] Revenue Breakdown - Rates revenues increased by 15.1% to $166.0 million, driven by higher volumes in interest rate derivatives[6] - ECS revenues rose by 19.3% to $117.7 million, supported by strong organic growth[6] - Foreign Exchange revenues improved by 14.7% to $88.9 million, driven by emerging markets products and G10 options volumes[6] - Fenics revenues grew by 9.7% to $137.3 million, with Fenics Markets generating $115.1 million, a 7.5% increase[8][23] - Total brokerage revenues for the first half of 2024 reached $1.02 billion, up from $935.8 million in the same period of 2023, marking an increase of 9.2%[32] - The company reported a 22.4% increase in revenues from Fenics Growth Platforms, rising to $22.2 million in Q2 2024 from $18.1 million in Q2 2023[66] Market Performance - FMX UST achieved a record market share of 30% in Q2, up from 28% last quarter and 23% a year ago, with average daily volumes improving by 37%[23] - FMX FX average daily volumes improved by over 30% year-over-year, reaching a record ADV of $8.1 billion[24] - FMX UST volumes increased by 37% and FMX FX volumes rose by 30%, showcasing strong performance in these segments[56] Shareholder Information - BGC declared a quarterly cash dividend of $0.02 per share, payable on September 3, 2024[12] - The fully diluted weighted-average share count for Adjusted Earnings was 496.8 million, a 1.7% decrease year-over-year[11] - Common stock outstanding increased to 475,272 in Q2 2024 from 391,745 in Q2 2023, representing a growth of approximately 21.3%[86] - Fully diluted weighted-average share count for Adjusted Earnings decreased to 496,767 in Q2 2024 from 505,493 in Q2 2023, a decline of about 1.4%[86] Tax and Expenses - The GAAP provision for income taxes in Q2 2024 was $18.0 million, a significant increase of 298.4% from a benefit of $9.1 million in Q2 2023[24] - Total expenses for Q2 2024 decreased by 4.9% to $500.2 million compared to $525.8 million in Q2 2023[24] - Interest expense for Q2 2024 was $21,551 thousand, compared to $19,914 thousand in Q2 2023, indicating an increase in borrowing costs[64] - Equity-based compensation and allocations of net income to limited partnership units and FPUs totaled $66,207 in Q2 2024, down from $126,644 in Q2 2023, a decrease of approximately 47.8%[85] Future Outlook - The company expects Q3 2024 revenues to be between $505 million and $555 million, compared to $482.7 million in Q3 2023[27] - The company has full CFTC approval to launch SOFR futures in September, which is expected to be the largest notional futures contract in the world[56] - The company anticipates providing forward-looking guidance for GAAP revenues and certain non-GAAP measures in the future[57] Asset and Liquidity Position - BGC's total assets reached $4,259,195,000 as of June 30, 2024, up from $3,175,937,000 at December 31, 2023[41] - Stockholders' equity decreased to $858,133,000 at June 30, 2024, compared to $885,083,000 at December 31, 2023[42] - BGC's cash and cash equivalents decreased to $571,659,000 as of June 30, 2024, from $655,641,000 at December 31, 2023[41] - Total liquidity, including financial instruments owned at fair value, was $759,066 thousand as of June 30, 2024, compared to $701,433 thousand at the end of 2023[63] Non-GAAP Measures - Adjusted Earnings are used by management to evaluate overall business performance and are not indicative of liquidity[39] - BGC's non-GAAP Constant Currency revenues provide a clearer comparison of underlying operating performance by eliminating foreign currency fluctuations[58] - The non-GAAP provision for income taxes was adjusted by $6.3 million in Q2 2024, compared to an adjustment of ($14.2) million in Q2 2023, indicating a shift in tax strategy[85]

Core Points - BGC Group, Inc. declared a quarterly dividend of 2 cents and reported its financial results for Q2 2024, ending June 30, 2024 [1] - A conference call to discuss the results is scheduled for 10:00 AM ET today [1] Company Overview - BGC Group, Inc. is a leading global marketplace, data, and financial technology services company, offering a wide range of products including fixed income, foreign exchange, energy, commodities, shipping, equities, and the FMX Futures Exchange [2] - The company's clients include major global banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms [2] Partnerships and Platforms - BGC has partnered with leading global investment banks and market-making firms to create FMX, which includes a U.S. interest rate futures exchange, a spot foreign exchange platform, and the fastest-growing U.S. cash treasuries platform [3]

Core Viewpoint - BGC Group, Inc. is set to announce its second quarter 2024 financial results on July 30, 2024, with a conference call scheduled for the same day to discuss these results [1][7]. Group 1: Financial Results Announcement - BGC Group, Inc. will release its second quarter 2024 financial results at approximately 8:00 a.m. ET on July 30, 2024 [1][7]. - A conference call for investors will take place at 10:00 a.m. ET on the same day to review the financial results [2][7]. Group 2: Conference Call Details - Participants can join the conference call via a webcast link or by pre-registering for the call [3][4]. - Dial-in numbers for the conference call include a U.S. number (1-877-407-0312) and an international number (1-201-389-0899) [4][7]. - The Call me™ link for instant access will be active at 9:45 a.m. ET on July 30, 2024 [7]. Group 3: Company Overview - BGC Group, Inc. operates as a global marketplace and financial technology services company, offering a range of products including fixed income, foreign exchange, energy, and commodities [4][8]. - The company has partnered with leading global investment banks to create FMX, which includes a U.S. interest rate futures exchange and a spot foreign exchange platform [8].

NEW YORK, June 28, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC), today announced that it has updated its outlook for the quarter ending June 30, 2024. Non-GAAP Financial Measures BGC uses non-GAAP financial measures, including "Adjusted Earnings before noncontrolling interests and taxes" and "Post-tax Adjusted Earnings to fully diluted shareholders", which are supplemental measures of operating results used by management to evaluate the financial performance of the Company and its consolidated subsidi ...