BGC Group, Inc. (BGC) Thursday announced 52.9 percent increase in second quarter earnings on revenue growth of 42.3 percent from the previous year.
The quarterly earnings available to stockholders were $57.545 million, up from $37.828 million a year ago. On a per share basis, earnings grew 37.5 percent to $0.11 from $0.08 last year. On an adjusted basis, earnings were $0.31 per share, while it was $0.23 per share in the prior year.
Revenue for the second quarter came in at $784.00 million, compared to $550.76 million a year ago. Excluding OTC, revenues were up 21 percent.
Looking ahead to the third quarter, the company expects revenues in a range of $715-$765 million. Pre-tax adjusted earnings for the third quarter is projected to be in a range of $150-$165 million.
The company said its Board has declared a quarterly qualified cash dividend of $0.02 per share payable on September 3, to Class A and Class B common stockholders of record August 20, 2025.
Sean Windeatt, Co-Chief Executive Officer said, "Following our most recent acquisition, we launched a cost reduction program, which we expect will be completed by year-end and deliver at least $25 million in annualized savings through expense synergies."
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