StoneX Group (SNEX) Q3 2026 earnings summary

Executive summary

• Net operating revenues reached $719.7 million, up 47% year-over-year, with net income of $127.9 million, a 102% increase year-over-year, and diluted EPS of $1.00, up 85% year-over-year.

• Operating revenues for Q3 2026 were $1.47 billion, up 43% year-over-year; trailing twelve months (TTM) operating revenues were $5,675.3 million, up 48%.

• ROE for the quarter was 18.4%, and 20.8% for the trailing 12 months, both above the 15% target.

• Growth was driven by Commercial and Institutional segments, aided by the integration of R.J. O'Brien and Benchmark acquisitions, and investments in technology and products.

• Client activity remained robust despite moderation in market volatility, with nearly all products delivering double-digit growth.

Financial highlights

• Net operating revenues were $719.7 million, up 47% year-over-year; operating revenues were $1.47 billion, up 43% year-over-year.

• Net income for the quarter was $127.9 million, up 102% year-over-year, but down 27% sequentially from the record Q2.

• Diluted EPS was $1.00 for the quarter (split-adjusted), with year-to-date EPS at $3.49, up 82% year-over-year.

• Book value per share ended at $23.70, up 32% year-over-year.

• Adjusted EBITDA for the quarter was $229.5 million, up 70% year-over-year.

Outlook and guidance

• Continued focus on integrating recent acquisitions and leveraging cross-sell opportunities, especially with RJO and Benchmark.

• Expectation of ongoing organic and inorganic growth, with M&A activity considered business as usual.

• Anticipated further expansion of Global Prime Services and payments platform, with new product rollouts and technology enhancements.

• Management highlights potential risks from market, regulatory, and competitive factors.

• Significant market opportunity remains, with ongoing investments in technology and product expansion.