BGC Group, Inc. Stock Price, News & Analysis

BGC Group (Nasdaq: BGC) has appointed John Abularrage, JP Aubin, and Sean Windeatt as Co-Chief Executive Officers, following Howard W. Lutnick's departure to serve as the 41st Secretary of Commerce. Mr. Windeatt will maintain his position as Chief Operating Officer, a role he has held since 2009.

The three executives, who previously served as Co-Global Heads of Brokerage, have been instrumental in BGC's growth and strategic initiatives. Under their joint leadership, the company achieved double-digit revenue growth and generated record revenues exceeding $2.25 billion in 2024.

Each brings significant experience: Abularrage joined in 2021 with over 20 years in financial services, Aubin has been with BGC since 2005 leading European expansion, and Windeatt has served the company for 27 years, playing a important role in its development since 2004.

BGC Group announced that Howard W. Lutnick has been confirmed as the 41st U.S. Secretary of Commerce and has stepped down as Chairman and CEO. Under his leadership, BGC grew into a global brokerage and financial technology company with over 4,000 employees, revenues exceeding $2.25 billion, and a market capitalization of approximately $4.5 billion.

Lutnick, who built BGC into the world's most valuable wholesale financial services intermediary, recently launched FMX, a U.S. Treasury and interest rate futures trading marketplace, in collaboration with leading global investment banks. To comply with government ethics rules, he has agreed to divest his interests in BGC without selling shares on the open market.

The company pioneered electronic trading solutions, including the automation of the U.S. Treasury market, establishing itself as an industry innovator under Lutnick's leadership.

BGC Group (Nasdaq: BGC) announced its fourth quarter and full year 2024 financial results on February 14, 2025. The company declared a quarterly dividend of 2 cents per share. A conference call to discuss the results is scheduled for 11:00 AM ET on the same day. The complete financial results, earnings presentation, and supplemental financial tables are available on the company's investor relations website at http://ir.bgcg.com/.

BGC Group (Nasdaq: BGC) has announced it will release its fourth quarter 2024 financial results on Friday, February 14, 2025, at approximately 8:00 a.m. ET. The company will host a conference call to discuss the results at 11:00 a.m. ET on the same day.

Investors can access the financial results through BGC's investor relations website at http://ir.bgcg.com. The conference call will be available via webcast, with participants able to join through the IR website or directly through https://www.webcast-eqs.com/bgc20250214. For those joining by phone, the U.S. dial-in number is 1-877-407-0312, and the international dial-in is 1-201-389-0899.

BGC Group has reaffirmed its previously stated outlook ranges for revenue and pre-tax Adjusted Earnings for the fourth quarter of 2024. These outlook figures were initially presented in the company's financial results press release from October 31, 2024.

The announcement includes detailed explanations of BGC's non-GAAP financial measures, including Adjusted Earnings, Adjusted EBITDA, and their calculation methodologies. These measures exclude certain non-cash items and expenses that don't involve cash outlay or dilute existing stockholders.

BGC Group (Nasdaq: BGC) has appointed Mike Whitaker as Global Chief Information Officer and Executive Committee member. In this newly created position, Whitaker will lead the company's technology strategy implementation and innovation initiatives. He brings over 40 years of financial services and technology expertise, previously serving at Citi for 15 years as Head of Operations & Technology. His prior experience includes CIO roles at Deutsche Bank and Barclays Capital, overseeing Global Fixed Income, Equities, eCommerce, and Algorithmic trading functions.

BGC Group has announced the sale of its Rates Compression business, Capitalab, to Capitolis for $46 million in gross proceeds, representing a revenue multiple of approximately 7.5 times. The transaction demonstrates BGC's commitment to unlocking shareholder value while focusing on growing its high-margin, technology-driven Fenics business, which generated over $550 million in revenue in the last 12 months. BGC will retain its post-trade foreign exchange risk reduction business, previously under the Capitalab brand, which will be renamed Fenics NDF Match.

BGC Group announced that Chairman and CEO Howard W. Lutnick has been nominated by President Donald J. Trump to serve as the 41st U.S. Secretary of Commerce. Upon Senate confirmation, Lutnick will step down from his positions at Cantor, BGC, and Newmark, and divest his interests in these companies without selling shares on the open market. He plans to recommend John Abularrage, Jean-Pierre Aubin, and Sean Windeatt as Co-CEOs of BGC. The company expects no changes to its existing corporate structure.

BGC Group (Nasdaq: BGC) announced its financial results for the third quarter ending September 30, 2024. The company declared a quarterly dividend of 2 cents. A conference call to discuss the results is scheduled for 10:00 AM ET. The complete financial results press release, earnings presentation, and supplemental financial tables are available on the company's investor relations website.