StoneX Group Inc. Reports Fiscal 2020 Fourth Quarter Financial Results
StoneX Group Inc. (SNEX) reported a 19% increase in quarterly operating revenues, totaling $342.1 million, for the fourth quarter of fiscal 2020. Quarterly net income surged by 185% to $77.4 million, while diluted EPS reached $3.90 per share. The company highlighted record results across nearly all business areas, fueled by a strategic acquisition of Gain Capital Holdings. Despite pandemic challenges, the firm noted significant non-operating income during the quarter, enhancing its operational position and future growth potential.
- Quarterly net income increased by 185% to $77.4 million.
- Diluted EPS rose to $3.90 per share.
- Operating revenues grew 19% to $342.1 million.
- Record results across nearly all business areas.
- Strategic acquisition of Gain Capital enhances scale and earnings.
- Interest income decreased by 60% year-over-year.
- Interest expense on corporate funding increased by 311%.
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NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) -- StoneX Group Inc. (the ‘Company’; NASDAQ: SNEX), a diversified global brokerage and financial services firm providing execution, risk management and advisory services, market intelligence and clearing services across multiple asset classes and markets around the world, today announced its financial results for the fiscal year 2020 fourth quarter ended September 30, 2020.
Sean M. O’Connor, CEO of StoneX Group Inc., stated, “Despite the unprecedented pandemic and its impact on the economy and markets in general, fiscal 2020 was a year of significant milestones and accomplishments for our company. We achieved record results on a consolidated basis and in nearly every business area, completed several transactions, including the major strategic acquisition of Gain Capital Holdings, Inc. (“Gain”) and rebranded the company with an eye toward our future. In addition to record annual earnings from our on-going operations, we realized a significant amount of non-operating income during the quarter, primarily resulting from the gain on acquisition relating to the Gain transaction. We are well placed to take advantage of the continued consolidation of our industry with greater scale and earnings power and more diversity in terms of products and customers.”
StoneX Group Inc. Summary Financials
Consolidated financial statements for the Company will be included in our Annual Report on Form 10-K to be filed with the SEC. The Annual Report on Form 10-K will also be made available on the Company’s website at www.stonex.com.
| Three Months Ended September 30, | Year Ended September 30, | ||||||||||||||||||||||
| (Unaudited) (in millions, except share and per share amounts) | 2020 | 2019 | % Change | 2020 | 2019 | % Change | |||||||||||||||||
| Revenues: | |||||||||||||||||||||||
| Sales of physical commodities | $ | 13,959.8 | $ | 11,005.7 | 27 | % | $ | 52,899.2 | $ | 31,830.3 | 66 | % | |||||||||||
| Principal gains, net | 180.2 | 110.4 | 63 | % | 622.2 | 415.8 | 50 | % | |||||||||||||||
| Commission and clearing fees | 103.7 | 90.3 | 15 | % | 403.6 | 372.4 | 8 | % | |||||||||||||||
| Consulting, management and account fees | 20.4 | 20.7 | (1 | ) | % | 83.7 | 79.6 | 5 | % | ||||||||||||||
| Interest income | 20.8 | 52.5 | (60 | ) | % | 130.9 | 198.9 | (34 | ) | % | |||||||||||||
| Total revenues | 14,284.9 | 11,279.6 | 27 | % | 54,139.6 | 32,897.0 | 65 | % | |||||||||||||||
| Cost of sales of physical commodities | 13,942.8 | 10,992.7 | 27 | % | 52,831.3 | 31,790.9 | 66 | % | |||||||||||||||
| Operating revenues | 342.1 | 286.9 | 19 | % | 1,308.3 | 1,106.1 | 18 | % | |||||||||||||||
| Transaction-based clearing expenses | 57.1 | 45.0 | 27 | % | 222.5 | 183.5 | 21 | % | |||||||||||||||
| Introducing broker commissions | 34.0 | 27.7 | 23 | % | 113.8 | 114.7 | (1 | ) | % | ||||||||||||||
| Interest expense | 10.0 | 37.2 | (73 | ) | % | 80.4 | 142.0 | (43 | ) | % | |||||||||||||
| Interest expense on corporate funding | 14.8 | 3.6 | 311 | % | 23.6 | 12.7 | 86 | % | |||||||||||||||
| Net operating revenues | 226.2 | 173.4 | 30 | % | 868.0 | 653.2 | 33 | % | |||||||||||||||
| Compensation and other expenses: | |||||||||||||||||||||||
| Variable compensation and benefits | 81.1 | 58.5 | 39 | % | 296.8 | 211.6 | 40 | % | |||||||||||||||
| Fixed compensation and benefits | 64.4 | 46.7 | 38 | % | 221.9 | 181.5 | 22 | % | |||||||||||||||
| Trading systems and market information | 12.9 | 10.3 | 25 |
FAQWhat were StoneX Group's operating revenues for Q4 2020?
StoneX Group reported operating revenues of $342.1 million for Q4 2020.
How much did net income increase for StoneX Group in Q4 2020?
Net income for Q4 2020 increased by 185% to $77.4 million.
What was the diluted EPS for StoneX Group for the fourth quarter of 2020?
The diluted EPS for StoneX Group in Q4 2020 was $3.90 per share.
What strategic acquisition did StoneX Group complete recently?
StoneX Group completed the strategic acquisition of Gain Capital Holdings.
How did the pandemic impact StoneX Group's business in 2020?
Despite pandemic challenges, StoneX Group achieved record results and significant milestones in 2020.
Stonex Group Inc
NASDAQ:SNEXSNEX RankingsSNEX Latest NewsSNEX Stock Data
4.18B
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80.96%
2.12%
Capital Markets
Security & Commodity Brokers, Dealers, Exchanges & Services
United States
NEW YORK
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