BGC Group Reports Record Revenues

By Bobby Samwell • Friday, February 14 10:20 • Permanent Link

BGC Group, Inc. (NASDAQ: BGC) has reported its financial results for the fourth quarter and full year ended December 31, 2024. The company achieved record fourth quarter and full-year revenues, with revenues growing by 10.8% and 11.7% respectively.

In the fourth quarter of 2024, BGC reported record revenues of $572.3 million, a 10.8% increase compared to the same period in the previous year. Revenues across the Americas, APAC, and EMEA grew by 17.1%, 10.2%, and 6.5% respectively.

The company's fourth quarter Fenics revenues reached $142.1 million, marking an 8.6% increase, with Fenics growth platforms growing by 20.2%. Additionally, pre-tax adjusted earnings were up 16.9% to $129.5 million, and post-tax adjusted earnings increased by 21.9% to $123.5 million, resulting in post-tax adjusted earnings per share of $0.25, a 19.0% improvement.

Total brokerage revenues grew by 11.8% in the fourth quarter of 2024, with rates, ECS, and foreign exchange businesses driving the growth. Rates revenues increased by 8.8% to $169.6 million, ECS revenues grew by 28.0% to $134.1 million, and foreign exchange revenues were up 21.3% to $93.6 million. However, credit revenues decreased by 4.9% to $62.4 million, and equities revenues declined by 3.5% to $56.3 million.

Expenses also saw an increase, with compensation and employee benefits under GAAP rising by 16.3% and non-compensation expenses under GAAP remaining flat. However, non-compensation expenses for adjusted earnings decreased by 0.3%.

Looking ahead, BGC provided an outlook for the first quarter of 2025, with projected revenues of $610 * $660 million and pre-tax adjusted earnings of $145 * $161 million.

The company also declared a quarterly qualified cash dividend of $0.02 per share, payable on March 20, 2025, to class A and class B common stockholders of record as of March 6, 2025.

BGC's full financial statements and additional details can be accessed through the company's investor presentation and the supplemental Excel financial tables available on its investor relations website. Today the company's shares have moved 1.9% to a price of $9.67. For the full picture, make sure to review BGC's 8-K report.

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