StoneX Group (SNEX) Q2 2026 earnings summary

Executive summary

• Achieved record net income of $174.3 million for Q2 FY2026, up 143% year-over-year, with diluted EPS of $2.07, up 120% year-over-year, and record net operating revenues, driven by strong performance across all segments and successful integration of R.J. O'Brien and Benchmark acquisitions.

• Growth was fueled by heightened global market volatility, increased client demand, and robust transactional volume in listed and OTC derivatives, securities, and payments.

• Integration of R.J. O'Brien remains on track, with expected synergies and efficiencies, positioning the company as the largest non-bank FCM in the U.S.

• AI initiatives are accelerating operational efficiency, client support, and product development, with tangible reductions in development time and improved client service.

• Completed a three-for-two stock split in March 2026, with all per-share metrics now split-adjusted.

Financial highlights

• Net income for Q2 FY2026 was $174.3 million, up 143% year-over-year; diluted EPS was $2.07, up 120% year-over-year; operating revenues were $1.57 billion, up 64% year-over-year.

• Net operating revenues rose 70% year-over-year and 14% sequentially; adjusted EBITDA was $296.9 million, up 115% year-over-year.

• Return on equity for Q2 FY2026 was 26.5%, up from 15.7% in Q2 FY2025; book value per share ended at $34.16, up 33% year-over-year.

• Trailing 12-month net income was $462.4 million, up 57%, with diluted EPS of $5.60 and ROE of 19.8%.

• Average client equity and FDIC sweep balances were $15.2 billion, up 91% year-over-year.

Outlook and guidance

• Management expects continued growth, leveraging a broad product ecosystem, global reach, and ongoing investments in technology, with volatility and client activity as key business drivers.

• Integration of R.J. O'Brien is progressing as planned, with synergy run rate at $32 million and expected to reach $50 million by completion.

• Some moderation in activity observed in April, but environment remains favorable with elevated volatility and strong interest rate backdrop.

• The company intends to renew or replace expiring credit facilities and maintains a strong liquidity position.

• Focus remains on expanding product capabilities and adapting to evolving client and market needs.