StoneX Posts Record First Quarter as Trading Activity Surges

StoneX Group Inc. has reported record first-quarter results for fiscal 2025, with net income rising 23% to $85.1 million, driven by strong client engagement across its trading platforms and substantial growth in its self-directed retail segment.

The Nasdaq-listed financial services network saw net operating revenues climb 17% to $492.1 million for the quarter ended December 31, 2024, while diluted earnings per share increased 19% to $2.54. The company also announced a three-for-two stock split to improve share accessibility.

"We achieved another record quarterly result, building on momentum realized through fiscal 2024," said Sean O'Connor, StoneX's Executive Vice-Chairman. He noted the strong performance came "despite relatively low volatility," suggesting robust underlying client activity.

Segment performance revealed particularly strong growth in the self-directed retail division, where income nearly doubled to $56.9 million. The institutional segment, which represents the largest revenue stream, saw operating revenues increase 24% to $539.6 million, while commercial revenues grew 17% to $232.3 million.

Key metrics showed significant growth across multiple business lines:

🔹 Securities trading volume rose 40% to a daily average of $8.7 billion
 

🔹 FX/CFD contracts revenue jumped 32% to $98.6 million
 

🔹 Physical contracts revenue increased 80% to $92.6 million
 

🔹 Interest income grew 30% to $378.2 million, though largely offset by similar interest expense growth

The company maintained a return on equity of 19.5%, while operating in an environment of higher interest rates that saw total interest expense rise 29% to $321.4 million.

Trading Division Highlights

Commercial Trading

Division income: Increased by 33% to $84.7 million

OTC contracts: Volume grew by 12% to 719,000 contracts

Exchange-traded volumes: Rose 8% to 43.7 million contracts

Institutional Trading

Division income: Up 18% to $94.3 million

Equity market-making: ADV increased by 25% to 3.2 billion shares

Fixed income: ADV in U.S. treasuries grew 37% to $27.5 billion

Global Payments

Division income: Climbed 22% to $46.8 million

Payment volume: Increased by 15% to $20.7 billion

Average transaction size: Rose to $35,400, up 7% year-over-year

Self-Directed/Retail

Division income: Nearly doubled to $56.9 million

FX/CFD contracts: Revenue up 34% to $89 million

Securities trading: Revenue growth of 25% to $28.3 million

The announced stock split will be distributed after market close on March 21, 2025, to shareholders of record as of March 11, with split-adjusted trading beginning March 24. Fractional shares will be paid in cash based on the March 12 opening price.

Self-invested sub-brands of StoneX include Forex.com, StoneX One and City Index.