StoneX Reports $55.3 Million in Net Income during the Last Quarter

The company saw record quarterly operating revenues of $471.4 million.

StoneX Group, a leading financial services provider, yesterday reported its financial results for the second quarter of FY 21 which ended on 31 March 2021. The company saw a jump of 29% in quarterly revenues as the total operating revenues touched a record high of $471.4 million in the last quarter.

According to the official results, StoneX saw a net income of $55.3 million in the last quarter, which is up by 41% compared to the same period in 2020. Additionally, the financial services provider reported quarterly diluted EPS of $2.73 per share.

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Commenting on the latest financial results, Sean M. O’Connor, CEO of StoneX Group, said: “I believe this quarter represents the strongest core operating performance in our history, with record operating revenues, a 41% increase in net income versus the prior year, and a 26.7% ROE on stated book value. This quarter demonstrates our efforts to build a diversified global franchise with growth in operating revenues and income across all of our operating segments. We continue to increase both our number of clients and their underlying volumes, which we feel positions us for success in the future.”

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StoneX reported a jump of 20% in operating revenue from securities transactions. Global payments revenue reached $32.8 million in the last quarter, which is up by 14% compared to the same period in 2020.

FX/CFD Revenues

StoneX highlighted a significant spike in operating revenues from FX/CFD contracts, which is mainly due to the recent acquisition of Gain Capital Holdings.

“Operating revenues from FX/CFD contracts increased $65.8 million, to $74.7 million in the three months ended March 31, 2021, as a result of an incremental $71.2 million in retail FX/CFD contracts operating revenues resulting from the acquisition of Gain Capital Holdings, Inc. (‘Gain’) which was partially offset by lower FX operating revenues in our legacy FX prime brokerage business,” the company mentioned in the official press release.

The financial services provider saw a jump of 108% in operating revenues from physical contracts due to strong customer demand for precious metals.

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