StoneX Group Inc. (NASDAQ:SNEX), which owns retail FX brands such as FOREX.com and City Index, has announced its financial results for the fiscal year 2025 second quarter ended March 31, 2025.
Operating revenues derived from FX/CFD contracts declined $9.4 million, as a result of a $9.7 million decrease in StoneX’s Self-Directed/Retail segment, which was partially offset by a $0.3 million increase in Institutional segment FX contracts operating revenues.
Operating revenues from payments increased $0.8 million, principally driven by a 20% increase in payments ADV , which was partially offset by a 15% decline in payments RPM.
Operating revenues derived from physical contracts increased $26.7 million, as a result of a $15.6 million increase in precious metals operating revenues, as well as a $11.3 million increase in physical agricultural and energy operating revenues. Precious metals related operating revenues were unfavorably impacted by unrealized losses on derivative positions of $4.0 million and $9.1 million in the three months ended March 31, 2025 and 2024, respectively, related to physical inventories held at the lower of cost or net realizable value.
Operating revenues derived from listed derivatives increased $16.7 million, with StoneX’s Commercial segment up $16.4 million and StoneX’s Institutional segment up $0.3 million.
Operating revenues derived from OTC derivatives increased $7.3 million, principally driven by 11% and 4% increases in OTC derivative volumes and average rate per contract, respectively. This improved performance was primarily driven by increased client activity in European and Brazilian markets.
Operating revenues derived from securities transactions increased $86.0 million, principally due to a 19% increase in ADV.
Across all segments, operating revenues increased $137.8 million, or 17%, to $956.0 million in the three months ended March 31, 2025 compared to $818.2 million in the three months ended March 31, 2024.
Net income increased $18.6 million to $71.7 million in the three months ended March 31, 2025. Diluted earnings per share was $1.41 for the three months ended March 31, 2025 compared to $1.09 in the three months ended March 31, 2024.
