NEW YORK - StoneX Group Inc. (NASDAQ:SNEX) reported better-than-expected first quarter earnings on Wednesday, sending shares up 1.4% in after-hours trading.
The financial services firm posted adjusted earnings per share of $2.54 for the quarter ended December 31, 2024, beating analyst estimates of $1.94. Revenue came in at $492.1 million, below the consensus forecast of $849.2 million.
Net income rose 23% YoY to $85.1 million, while diluted EPS increased 19% to $2.54 per share. The company achieved a return on equity of 19.5% for the quarter.
"We achieved another record quarterly result, building on momentum realized through fiscal 2024," said Sean O’Connor, StoneX’s Executive Vice-Chairman.
StoneX saw strong client engagement with increased volumes across all operating segments and products despite relatively low volatility. Net operating revenues grew 17% YoY to $492.1 million.
The Commercial segment’s operating revenues rose 17% to $232.3 million, while the Institutional segment saw a 24% increase to $539.6 million. Self-Directed/Retail revenues jumped 34% to $124.1 million.
Additionally, StoneX announced a three-for-two stock split to be effected as a stock dividend on March 21, 2025.
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