StoneX reports solid Q4 results and record annual earnings, driven by strong global growth across key business segments.
StoneX reports solid Q4 results and record annual earnings, driven by strong global growth across key business segments.
StoneX Group reports strong Q4 growth results for fiscal year 2024, ending September 30, 2024. The company saw significant increases in earnings, driven by robust performance across key business segments. The company, known for its subsidiaries FOREX.com and City Index, posted strong performance across multiple segments despite facing challenges in certain areas.
Operating revenues for the quarter surged by 18%, reaching $920.1 million, compared to $778.0 million in the same period last year. A $5.5 million rise in FX/CFD contract revenues primarily drove this notable increase. StoneX saw a substantial $7.0 million boost in its Self-Directed/Retail segment, which offset a $1.5 million dip in the Institutional segment’s FX/CFD revenue.
Furthermore, in terms of derivatives, StoneX saw a significant $19.6 million rise in revenues from listed derivatives. The Commercial and Institutional segments contributed $11.7 million and $7.9 million, respectively, reflecting strong demand in these areas. However, revenues from OTC derivatives fell by $13.7 million, primarily due to a 26% drop in the average rate per contract, driven by lower commodity volatility. This decline was mitigated by a 4% increase in OTC volumes.
For the quarter, net income soared 51% year-over-year to $76.7 million, with diluted earnings per share (EPS) of $2.32, marking an 18.5% return on equity. Annual earnings reached a record $260.8 million, or $7.96 per diluted share, representing an increase of 9% and 7%, respectively, from the previous year.
CEO Sean M. O’Connor highlighted the company’s continued growth, stating that the results reflect robust client engagement and increased volumes across nearly all product segments. He emphasized that despite relatively low market volatility, StoneX’s global expansion and diversified offerings have positioned the company for long-term success in client service and shareholder returns.
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