Marex Group plc Stock Price, News & Analysis

Marex Group (Nasdaq: MRX) reported strong Q4 and full-year 2024 results, with Adjusted Profit Before Tax rising 40% to $321.1 million on a 28% revenue increase. The company's Q4 performance showed revenue growth of 28% to $415.6 million.

Key financial highlights include:

• Net commission income up 25% to $226.0 million in Q4
• Net trading income increased 15% to $128.1 million in Q4
• Net interest income grew 107% to $62.6 million in Q4
• Average invested assets increased 12% to $15.5 billion

The company successfully completed its IPO on Nasdaq in April and conducted a secondary placing in October, increasing public float to 52%. Marex announced a dividend of $0.14 per share to be paid in Q1 2025. The company reported a strong start to 2025 with continued positive momentum in the first two months.

Marex Group plc (NASDAQ: MRX) has scheduled two important investor events. The company will release its fourth quarter and full year 2024 financial results before market open on March 6, 2025, followed by a conference call at 9am ET on the same day. The earnings release and supplementary materials will be accessible through the company's investor relations website.

Additionally, Marex will host an investor day on April 2, 2025, in New York City. Analysts and investors interested in participating in the earnings conference call can register through the provided link.

Marex Group plc (Nasdaq: MRX) reported strong results for Q3 and 9M 2024, ending on September 30, 2024. Key financial highlights include:

Q3 2024:

• Revenue: $391.2m, up 32% YoY
• Profit Before Tax: $79.0m, up 66% YoY
• Profit After Tax: $58.4m, up 80% YoY
• Basic EPS: $0.78, up 77% YoY

9M 2024:

• Revenue: $1,179.1m, up 28% YoY
• Profit Before Tax: $218.0m, up 39% YoY
• Profit After Tax: $161.3m, up 42% YoY
• Basic EPS: $2.20, up 40% YoY

The company upgraded its full-year 2024 guidance, now expecting Adjusted Operating Profit between $300m-$305m. Strategic investments included acquisitions of Aarna Capital, Hamilton Court Group, Dropet, and a carbon credit partnership with Key Carbon. Marex also completed a successful secondary equity placement and issued $600m in 5-year senior unsecured notes. A dividend of $0.14 per share will be paid in Q4 2024.

Marex Group plc (Nasdaq: MRX) has announced the pricing of a U.S.$600 million Senior Notes offering with a 6.404% interest rate, due 2029. The Notes will be issued at 100% of principal value and will be senior unsecured obligations. The offering is expected to close around November 4, 2024. The company plans to use the proceeds for working capital, incremental growth funding, and general corporate purposes. The offering received strong investor interest, reflecting market confidence in Marex's prudent capital profile and business model.

Marex Group plc (Nasdaq: MRX) has announced the pricing of its public offering at $24.00 per share. The offering consists of 8,472,333 ordinary shares being sold by existing shareholders, with an additional 30-day option for underwriters to purchase up to 1,270,849 shares. The company itself is not selling any shares and will not receive any proceeds from the offering. The closing is expected on October 25, 2024. The offering is led by joint book-running managers Barclays, Goldman Sachs, Jefferies, and Keefe, Bruyette & Woods, with additional bookrunners and co-managers participating.

Marex Group plc (NASDAQ: MRX) has announced that it will release its fiscal 2024 third quarter results on Thursday, November 7, 2024, before the market opens. The company will make the earnings release and supplementary materials available through the "Investors" section of its website at https://ir.marex.com/.

Following the release, Marex will host a conference call at 9am ET on the same day to discuss the results. Analysts and investors who wish to participate in the live conference call can register using the provided link: https://register.vevent.com/register/BI35bc4ad5c3ed48f8b2e48ab5dbfeb65e.

Marex Group plc (Nasdaq: MRX) has announced the launch of a public offering of its ordinary shares. The offering involves 7,000,000 ordinary shares being sold by certain selling shareholders. Additionally, these shareholders have granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares. Marex itself is not selling any shares and will not receive any proceeds from the sale.

The joint lead book-running managers for the offering are Barclays, Goldman Sachs & Co. , Jefferies, and Keefe, Bruyette & Woods. The offering will be made through a prospectus, which can be obtained from the underwriters. A registration statement has been filed with the SEC but is not yet effective, meaning the securities cannot be sold until it becomes effective.

Marex Group plc (NASDAQ: MRX) has agreed terms to acquire Hamilton Court Group, a UK-based FX specialist. This acquisition aligns with Marex's strategy to expand its client base and diversify its earnings. Hamilton Court Group offers a range of FX products, from complex options to standard forwards, spots, and swaps, primarily serving mid-sized UK and European corporates. With approximately 170 employees across London, Milan, Madrid, and Toronto, Hamilton Court Group's acquisition is expected to complement Marex's existing FX operations.

The deal, subject to contract and regulatory approval, aims to enhance Marex's capabilities and client offerings. Marex CEO Ian Lowitt emphasized the strategic importance of bringing new clients onto their platform and diversifying their business. Tony Keterman, CEO of Hamilton Court Group, highlighted the benefits of joining Marex, including access to a larger balance sheet and global footprint to support their expansion plans.

Marex Group plc has agreed to acquire Aarna Capital , an Abu Dhabi-based company providing clearing, execution, and risk management solutions. This acquisition aligns with Marex's strategy to expand operations in the Middle East, grow its clearing business, and diversify its client base. Key points:

- Aarna Capital brings access to around 180 local clients
- Expected to be accretive to earnings and contribute ~5% of Marex Group's profit after tax from FY 2025
- Anticipated synergies include savings from internalising clearing fees and higher net interest income
- Transaction expected to close in late 2024, subject to regulatory approval
- Represents 3-4 times expected profit after tax

The acquisition complements Marex's existing Middle East operations and is seen as an important growth opportunity in the region.