NEW YORK - StoneX Group Inc. (NASDAQ:SNEX) reported better-than-expected fourth quarter earnings, sending shares up 1.59% in premarket trading Wednesday.
The financial services firm posted adjusted earnings per share of $2.32 for the quarter ended September 30, handily beating analyst estimates of $1.75. Revenue surged 87% YoY to $31.14 billion, far exceeding the consensus forecast of $810.9 million.
Net income for Q4 rose 51% to $76.7 million compared to $50.7 million in the same period last year. The company attributed the strong results to increased client engagement and higher volumes across most of its operating segments.
"We experienced continued strong client engagement with increased volumes across nearly all of our operating segments and products despite relatively low volatility," said CEO Sean M. O'Connor.
For the full fiscal year 2024, StoneX reported record net income of $260.8 million, up 9% from the previous year. Annual diluted EPS increased 7% to $7.96.
The company's net operating revenues for Q4 grew 13% YoY to $454.8 million. StoneX ended the quarter with $1.71 billion in stockholders' equity, up from $1.38 billion a year ago.
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