StoneX Group (SNEX) Q1 2026 earnings summary

Executive summary

• Achieved record net income of $139 million and diluted EPS of $2.50 for Q1 FY2026, up 63% and 48% year-over-year, with ROE reaching 22.5% and book value per share at $48.17.

• Record net operating revenues, up 47% year-over-year, driven by strong growth in listed derivatives, commercial and institutional segments, and the first full quarter of RJO and Benchmark acquisitions.

• Volatile economic conditions and increased client demand in metals and securities markets contributed to business growth.

• R.J. O'Brien and Benchmark acquisitions contributed significantly to revenues and client equity, with integration progressing and synergies realized.

• Announced a three-for-two stock split, effective March 2026, to increase accessibility for investors and employees.

Financial highlights

• Operating revenues reached $1.44 billion, up 52% year-over-year; net operating revenues up 47% to $724.4 million; net income up 63% to $139 million.

• Adjusted EBITDA grew 64% to $250.9 million.

• Book value per share increased 30% year-over-year to $48.17.

• Listed derivatives contract volume rose 58% to 84.1 million; average client equity in listed derivatives doubled to $13.2 billion.

• Interest and fee income on client balances up 61% year-over-year, with RJO contributing $63.8 million.

Outlook and guidance

• Management expects continued growth, leveraging product and geographic diversification, with integration of RJO on track and cost synergy target of $50 million affirmed.

• Plans to expand global hedging, digitize operations, and enter new markets such as power, electricity, and carbon.

• Forward-looking statements highlight risks from global instability, inflation, regulatory changes, and integration execution.