StoneX Group Releases Strong Financial Results for Q3 FY23 with Total Revenues of $15Bn

StoneX Group, a diversified global brokerage and financial services firm, released its financial results for the third quarter of the fiscal year 2023 ended June 30, 2023 (Q3 FY23), showing strong financial performance during the period.

Financial overview for Q3 FY23:

• Total revenues for the three months came in at $15,047.9 million, dropping by 21% compared to $18,930.9 million in Q3 of last fiscal year. Interest income accounted for $262.7 million, jumping 424% compared to $50.1 million in Q3 FY22. Commission and clearing fees accounted for $126.8 million, basically unchanged compared to $126.9 million a year-ago.

• Operating revenues totaled $776.9 million, 47% higher than $528.8 million in Q3 FY22. Revenues of retail FX and CFDs business operated via its Forex.com and City Index brands accounted for $72.1 million, 17% lower than $86.8 million in Q3 FY22 and 17% higher than $61.8 million in the prior quarter. Operating revenues of listed derivatives accounted for $107.6 million, 1% higher than $106.1 million in Q3 FY22. Operating revenues of OTC derivatives accounted for 71.9 million, 43% higher than $50.2 million in Q3 FY22. Operating revenues of securities accounted for $272.4 million, 76% higher than $154.6 million in Q3 FY22.

• Net operating revenues was $435.9 million, 17% higher than $374.1 million in Q3 FY22.

• Income before tax increased by 33% from $70.9 million to $94.5 million on a yearly basis.

• Net income increased by 42% from $49.1 million to $69.5 million on a yearly basis.

• Basic earnings per share (EPS) was $3.35, rising 38% compared to $2.42 in Q3 of last fiscal year.

• Diluted EPS was $3.25, rising 37% compared to $2.37in Q3 FY22.

Sean M. O'Connor, CEO of StoneX Group, stated: "We achieved one of the strongest quarters in our history with operating revenues up 47%, diluted EPS up 37% and record adjusted net income of $71.8 million. These excellent results were achieved with solid transactional revenues, despite moderating volatility, and increased interest earnings on our client float. We believe that our financial performance continues to be a positive outlier in our industry and we are well-positioned to continue delivering strong results to our shareholders."