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StoneX Group Inc. (SNEX-1.10%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports total revenues of $27,935.3 million, a 43% increase from $19,573.0 million in the same period the previous year. This increase was primarily driven by growth in sales of physical commodities and interest income.
Operating revenues, which exclude the cost of sales of physical commodities, rose by 20% to $944.3 million from $784.2 million in the prior year. This growth was largely attributed to increased transaction volumes across product offerings.
Net income for the quarter was $85.1 million, up from $69.1 million in the previous year, representing a 23% increase. Diluted earnings per share increased to $2.54 from $2.13.
The company reported a net operating revenue of $492.1 million, a 17% increase from $421.6 million in the previous year. This was achieved despite a 30% rise in interest expenses related to trading activities.
StoneX Group Inc. announced a 3-for-2 stock split, effective as a stock dividend to be distributed on March 21, 2025, to shareholders of record on March 11, 2025.
The company's Commercial segment contributed $232.3 million to operating revenues, while the Institutional segment added $539.6 million. The Self-Directed/Retail and Payments segments contributed $124.1 million and $58.1 million, respectively.
Total assets as of December 31, 2024, were $29,585.3 million, a 27% increase from $23,244.8 million at the end of the previous year. The increase was primarily due to higher client balances and trading activities.
The filing also details legal proceedings, including a complaint filed by BTIG against StoneX Group Inc. and StoneX Financial Inc., which has moved to FINRA Arbitration. The company is cooperating with related DOJ and SEC subpoenas.
StoneX Group Inc. continues to focus on expanding its product offerings and geographical reach, supported by a workforce of approximately 4,600 employees.
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. quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.