StoneX Reports Net Income of $49.1 Million in the Latest Quarter

Nasdaq-listed international brokerage and financial services provider, StoneX Group published its financial results yesterday for the quarter ended 30 June 2022. During the reported period, the company witnessed a jump of almost 23% in operating revenues as the figure reached $528.8 million.

The net income of StoneX Group reached $49.1 million in the recent quarter, which is up by approximately 44% compared to the same period last year. Diluted earnings per share jumped 42% to $2.37.

“We continued to see strong performance across all products and segments, resulting in net income for the quarter of $49.1 million, up 44% compared to the prior year, and diluted EPS of $2.37. The standout performance was achieved by our retail business, with segment income up 338%, and our physical commodities businesses performed very well with operating revenues up 37%,” Sean M. O’Connor, the CEO of StoneX Group, commented.

“Also notable was the increase in interest received on our client float, up 207%. Our financial results generated an ROE of 19.1% on stated book value and a 21.0% ROE on tangible book value for the quarter, and an ROE of 21.2% on stated book value and a 23.5% ROE on tangible book value for the year-to-date period,” he added in the press release.

StoneX has expanded its global presence significantly in the past few months. In July 2022, the financial services provider introduced its institutional credit offering in Asia.

Solid Growth

According to the numbers published by the firm, StoneX saw strong growth across key business segments. The overall sales of physical commodities spiked by nearly 88% in the latest quarter. Consulting, Management, and Account fees also climbed by 24%. The company’s institutional, retail, and global payment business saw a decent spike in demand during the quarter ended 30 June 2022.