Virtu Estimates $285 Million Q2 Profit, Launches Marketing for $400 Million Term Loan

Virtu Financial has published preliminary second-quarter results while launching the marketing of a $400 million incremental first-lien term loan that would expand its senior secured credit facility.

Preliminary Second-Quarter Results

The global market maker and brokerage technology provider said it expects to report net income of $285 million for the quarter ended June 30, alongside adjusted EBITDA of $437 million.

Trading income is estimated at $857 million, while adjusted net trading income is expected to reach $718 million, equivalent to an average of $11.6 million per trading day.

Basic and diluted earnings per share are projected at $1.63, while normalised adjusted EPS is expected to come in at $1.82. The figures remain preliminary and unaudited ahead of the company’s scheduled earnings release on July 30.

The preliminary figures follow a strong first quarter, when Virtu nearly doubled net income year over year as elevated market activity lifted trading revenue.

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Loan to Expand Existing Credit Facility

Alongside the preliminary results, Virtu said it has begun marketing $400 million of incremental term loans. If completed, the financing would increase the total balance of its senior secured term loan facility to $1.93 billion. The announcement did not include details on the intended use of the financing proceeds.

Virtu cautioned that the financial figures are management estimates that have not yet been reviewed by its independent auditor and could change as the company completes its quarterly closing process.

Earlier this year, Virtu also obtained a MiCA licence through its Irish subsidiary, expanding its regulated digital asset business across the EU.