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StoneX Group Inc. (SNEX+0.78%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing reports total revenues of $99,887.8 million, an increase of 64% compared to the previous year, driven by a significant rise in sales of physical commodities.
Operating revenues increased to $3,436.2 million, up 18% from the prior year, with growth seen in listed derivatives, securities, and FX/CFD contracts.
Net operating revenues were $1,767.2 million, a 9% increase from the previous year, while total compensation and other expenses rose by 7% to $1,421.9 million.
The company reported a net income of $260.8 million, a 9% increase from the previous year, with diluted earnings per share of $7.96.
StoneX Group Inc. issued $550.0 million of 7.875% Senior Secured Notes due 2031, using proceeds to redeem $347.9 million of 8.625% Senior Secured Notes due 2025.
Segment income increased across most segments, with the Self-Directed/Retail segment showing the largest growth at $73.5 million.
Interest and fee income earned on client balances increased by $47.4 million, driven by higher short-term interest rates, despite a decline in average client equity.
The company continues to focus on maintaining a variable cost model, with variable expenses accounting for 52% of total expenses.
StoneX Group Inc. maintains a strong liquidity position with $6,672.6 million in cash, segregated cash, cash equivalents, and segregated cash equivalents as of September 30, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the StoneX Group Inc. annual 10-K report dated November 29, 2024. To report an error, please email earnings@qz.com.