BGC Group (BGCP) investor relations material

Executive summary

• Achieved record Q2 2026 revenues of $845.5 million, up 7.8% year-over-year, with broad-based growth across all asset classes and geographies.

• First half 2026 revenues exceeded $1.8 billion, up over 24% year-over-year, surpassing full-year revenues from three years prior.

• Pre-tax adjusted earnings reached $192.9 million, up 11.1% year-over-year, and adjusted EBITDA hit $228.7 million, up 7.2% year-over-year.

• Adjusted EPS set a new Q2 record at $0.35, up 12.9% year-over-year.

• Announced a strategic partnership with Fanatics to build a prediction market ecosystem, combining institutional and retail reach.

Financial highlights

• Total brokerage revenues rose 7.2% to $771.4 million, with ECS up 5.3% to $275.5 million, rates up 10.6% to $221.9 million, FX up 9.4% to $118.7 million, credit up 5.4% to $79.3 million, and equities up 2.8% to $76 million.

• FENICS revenues reached a record $186.2 million, up 14.3% year-over-year; FENICS Markets up 16.5% (excluding kACE), and FENICS Growth Platforms up 22.9%.

• GAAP income from operations before income taxes increased 31.4% to $98.9 million year-over-year.

• GAAP net income for fully diluted shares rose 26.2% to $69.6 million.

• Total expenses for Q2 2026 increased 8.7% year-over-year, mainly due to higher compensation and a $24.5 million accrual for a U.K. tax matter.

Outlook and guidance

• Q3 2026 revenue guidance: $775–$835 million, representing up to 13% year-over-year growth.

• Pre-tax adjusted earnings guidance: $172–$190 million, up as much as 23% year-over-year.

• Full-year 2026 adjusted earnings tax rate expected between 11% and 14%.

• Margin expansion expected to continue, with incremental margins well above 30% and positive outlook into 2027 and beyond.

• Quarterly dividend of $0.02 per share declared for Q2 2026.