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StoneX(SNEX) - 2024 Q3 - Quarterly Results
2024-08-06 20:20
EXHIBIT 99.1 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 15.7% Quarterly Diluted EPS of $1.88 per share, down 13% New York, NY – August 6, 2024 – StoneX Group Inc. (the "Company"; NASDAQ: SNEX), a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem throug ...
StoneX Group Inc. Reports Fiscal 2024 Third Quarter Financial Results
GlobeNewswire News Room· 2024-08-06 20:15
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 executio ...
StoneX Group Inc. to Announce 2024 Fiscal Third Quarter Earnings on August 6, 2024
Newsfilter· 2024-07-31 19:00
NEW YORK, July 31, 2024 (GLOBE NEWSWIRE) -- StoneX Group Inc. (NASDAQ: SNEX) today announced that it will release its fiscal 2024 third quarter results after the market close on Tuesday, August 6, 2024. Management will host a conference call on Wednesday, August 7, 2024 at 9:00 a.m. Eastern Time to review the Company's 2024 fiscal third quarter results. A live web cast of the conference call as well as additional information to review during the call will be made available in PDF form at https://www.stonex. ...
StoneX Group Inc. to Announce 2024 Fiscal Third Quarter Earnings on August 6, 2024
GlobeNewswire News Room· 2024-07-31 19:00
NEW YORK, July 31, 2024 (GLOBE NEWSWIRE) -- StoneX Group Inc. (NASDAQ: SNEX) today announced that it will release its fiscal 2024 third quarter results after the market close on Tuesday, August 6, 2024. Management will host a conference call on Wednesday, August 7, 2024 at 9:00 a.m. Eastern Time to review the Company's 2024 fiscal third quarter results. A live web cast of the conference call as well as additional information to review during the call will be made available in PDF form at https://www.stonex. ...
Indian tariff cuts and Chinese demand uptick boost gold outlook, silver suffers despite ETF interest – StoneX's O'Connell
KITCO· 2024-07-30 20:07
Ernest Hoffman Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...
Gold prices should benefit from near-term political uncertainty, silver's technical picture deteriorates – StoneX Bullion's O'Connell
KITCO· 2024-07-23 17:27
Ernest Hoffman Share the sto t 1 000 107p ant s Popul 93% 47 ty Less 00 1 97 ID 11 80 101g 0831 FiNE g grass 2, 1 47 the State 4 9 (1) Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the w ...
StoneX(SNEX) - 2024 Q2 - Earnings Call Presentation
2024-05-09 19:21
— 100 vears — | --- | --- | |------------------------------------|-------| | | | | | | | Earnings Call: 2 nd Quarter 2024 | | | StoneX Group Inc. | | | May 8 th , 2024 | | The StoneX Group Inc. group of companies provides financial services worldwide, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products, through its subsidiaries, in accordance with applicable law in the jurisdictions where services are pr ...
StoneX(SNEX) - 2024 Q2 - Earnings Call Transcript
2024-05-09 19:13
Financial Data and Key Metrics - Interest and fee income increased by 1% to $104.2 million due to higher interest rates [1] - Segment operating revenues increased by 15% and segment income increased by 14% YoY [2] - Retail segment operating revenues increased by 30%, leading to a $28.4 million increase in segment income to $33.2 million [3] - Trailing 12-month operating revenues increased by 74% with a 32% CAGR, and adjusted net income increased by 63% with a 28% CAGR [5] - Adjusted ROE remained above the 15% target despite a 53% increase in capital [5] - Operating revenues increased by 10% sequentially, with segment income up 16% [15] - Net income for the quarter was $53.1 million, a 27% increase YoY [61] Business Line Performance - Commercial segment income decreased by 17% due to a 9% decrease in operating revenues [2] - Retail segment income increased by 592% YoY, driven by a 30% increase in operating revenues and a $6.7 million decline in fixed expenses [15] - Payments segment operating revenues declined by 1%, but segment income increased by 55% due to a $10.3 million decline in fixed compensation [16] - Institutional segment operating revenues increased by 28%, translating to a 10% increase in segment income [94] Market Performance - FX and CFD revenues increased by $20.2 million due to an 82% increase in rate per million, offsetting a 24% decline in average daily volume [23] - Securities operating revenues increased by 37%, driven by a 30% increase in average daily volume and higher interest rates [67] - OTC derivatives operating revenues declined by 8%, primarily due to lower agricultural volatility [89] Strategy and Industry Competition - The company focuses on building a global financial ecosystem to connect clients to markets, leveraging its broad product set and capabilities [28] - The company has completed over 30 acquisitions in the last 15 years, focusing on integrating smaller businesses into its ecosystem [29] - The company sees opportunities in the withdrawal of large banks from the market, which has created space for smaller firms to grow [27] - The company is investing in technology to digitize offerings, enhance client engagement, and improve operational leverage [44][71] Management Commentary on Market Conditions and Outlook - The company expects volatility to remain a key driver of revenue capture, with current low volatility levels likely to increase in the future [52] - The company is cautious about entering the market for new hedges due to the current Fed cycle and inverted yield curve [115] - The company believes that valuations for potential acquisitions are becoming more reasonable, increasing the likelihood of future deals [106] Other Important Information - The company issued $550 million in new seven-year secured notes to extend its debt maturity profile and bolster liquidity [24] - The company has $7.1 billion in client funds supported by $1.5 billion in permanent equity capital and $550 million in term debt [47] - The company has over 54,000 institutional and commercial clients, 400,000 retail clients, and deals with over 600 financial institutions [74] Q&A Session Question: Trends in Commercial and Institutional Segments - The company noted that revenue capture tends to expand with higher market volatility and narrow with lower volatility [79] - Institutional segment volumes have increased, particularly in lower-margin products, but revenue capture has stabilized [81] Question: Retail Segment Fee per Million Sustainability - The company expects retail fee per million to normalize around 90-100, down from the current unsustainable level of 120 [82] Question: Expense Run Rates and Operational Leverage - The company expects expenses to trend down by $4-6 million due to seasonal adjustments and office consolidations [112] - The company is focusing on hiring in lower-cost jurisdictions to improve operational efficiency [113] Question: M&A Environment and Valuation Trends - The company sees more reasonably priced acquisition opportunities compared to the past two years, increasing the likelihood of future deals [106] Question: Interest Rate Sensitivity and Hedges - The company has seen a 50 basis point pickup in gross yield and a 75 basis point pickup in net yield as some hedges rolled off [115]
StoneX(SNEX) - 2024 Q2 - Quarterly Report
2024-05-08 22:38
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ____________________ (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 000-23554 StoneX Group Inc. (Exact name of registrant as specified in its ...
StoneX(SNEX) - 2024 Q2 - Quarterly Results
2024-05-08 20:28
EXHIBIT 99.1 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% New York, NY – May 8, 2024 – 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 ...