BGC Group Inc (NAS:BGC)
$ 9.45 -0.02 (-0.21%) Market Cap: 4.53 Bil Enterprise Value: 5.60 Bil PE Ratio: 37.80 PB Ratio: 5.33 GF Score: 69/100
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Q3 2024 Bgc Group Inc Earnings Call Transcript

Oct 31, 2024 / 02:00 PM GMT
Release Date Price: $9.37 (-1.88%)

Key Points

Positve
  • BGC Group Inc (BGC) reported record third-quarter revenues of $561 million, marking a 16% increase compared to the previous year.
  • The company experienced growth across every asset class and region, with pre-tax adjusted earnings rising by more than 24%.
  • BGC Group Inc (BGC) announced the acquisition of OTC Global Holdings and Sage Energy Partners, expected to add over $450 million in annual revenues and be immediately accretive.
  • FMX continues to outperform peers, generating record volumes across US Treasury and FX platforms, with plans to connect additional major FCMS in the coming quarters.
  • The company anticipates fourth-quarter revenue growth of over 11% and pre-tax adjusted earnings growth of around 17% for the full year 2024.
Negative
  • Compensation and employee benefits expenses increased by 16.4%, impacting overall profitability.
  • Non-compensation expenses rose by 17.5%, driven by higher interest expenses, although partially offset by higher interest income.
  • The FMX Treasury market share experienced a slight decline due to increased trading between professional firms on the CME, which BGC Group Inc (BGC) does not focus on.
  • The integration of new acquisitions may initially result in slightly lower margins until fully integrated.
  • The company expects a temporary reduction in share repurchasing due to capital allocation towards recent acquisitions.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BGC.OQ - Bgc Group Inc
Q3 2024 Bgc Group Inc Earnings Call
Oct 31, 2024 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the BGC Group Incorporated third quarter, 2024 earnings call.

This time, all participants are in listen-only mode.

The question and answer session will follow today's formal presentation.

If anyone should require operator assistance, please press star zero from your telephone keypad as a reminder, this conference is being recorded now. My pleasure to introduce Jason Krias, head of Investor relations. Mr KIC. You may now begin.

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Unidentified_2 [2]
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Thank you. And hello everyone this morning, we issued BG CS third
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