Marex Group sees Q3 adjusted EPS 92c-97c, consensus 91c

Sees revenue $475M-$485M, consensus $475.36M. Ian Lowitt, Group CEO, stated: “Following recent movement in our share price, we wanted to address investor questions regarding our performance in the third quarter, client balances, and the impact of exchange volumes on our business. I’m pleased to report another strong quarter in which we have maintained our growth trajectory. Following a strong first half, where Revenue was up 23% and Adjusted Profit Before Tax was up 27%, both Revenue and Adjusted Profit Before Tax in the third quarter are up over 20% year over year. This growth was achieved in a more challenging operating environment, as exchange volumes at CME and ICE were down over 15% on average in Q3 compared to Q2. This quarter reflects the strength and resilience of the franchise we’ve built – one designed to grow and perform across a range of market environments. Average Clearing Client balances have grown every quarter since Q1 2024, and are up 4% this quarter to $13.3B, as we continue to add new clients. This momentum with clients continued into October, when we recently hit a record of over $10B in US client assets, as reported by the Commodity Futures Trading Commission. We remain very excited about our prospects for the remainder of the year and beyond.”