EarningsQ2 2026 Earnings Report
MX:VIRT Q2 2026 EPS Results
Actual EPS$31.50
Consensus EPS$31.29
Beat/MissBeat by +$0.21
One Year Ago EPS$26.48
MX:VIRT Q2 2026 Revenue Results
Actual Revenue$16.31B
Expected Revenue$11.90B
Beat/MissBeat by +$4.42B
YoY Revenue Growth+20.12%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:VIRT Upcoming Earnings
Virtu Financial's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:VIRT Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong financial and operational momentum: record trailing 12-month metrics, robust quarterly profitability (61% adjusted EBITDA margin), substantial capital build (trading capital up to $3.4B) and exceptional returns on invested capital (106% over the year). Management emphasized purposeful hiring, lower attrition and the firm's ability to opportunistically deploy capital. Offsetting these positives are rising personnel-related costs (cash compensation up to ~25%), a quarterly increase in brokerage/transaction costs, and a $500 million term loan that modestly increases leverage. Product evolution (e.g., regulated perpetuals) remains an uncertain near-term revenue source. Overall, the positive operational and financial developments materially outweigh the highlighted headwinds.Company Guidance
Record Financial Performance (Quarter and Trailing 12 Months)
Q2 adjusted EBITDA of $437 million with a 61% margin; Q2 adjusted EPS $1.82. Trailing 12-month results are all-time highs: adjusted EBITDA $1.7 billion, adjusted EPS $6.96, and ANT per day of $10.4 million. For the quarter, adjusted net trading income (ANT) was $11.6 million per day (total ANT ~$718 million).
Strong Segment Contributions
Market Making ANT of $9.4 million per day and Execution Services ANT of $2.2 million per day, both benefiting from favorable market conditions and strong execution.
Significant Capital Build
Total trading capital increased to $3.4 billion from $2.0 billion a year ago (approximately +70% year-over-year). Invested capital stands at $2.9 billion and increased by $270 million during the quarter.
Exceptional Returns on Invested Capital
Reported average return on invested capital of 106% over the past year, indicating very strong capital deployment performance.
Liquidity and Shareholder Actions
Completed an incremental $500 million term loan upsizing in early July (opportunistic execution) and continues to pay a quarterly dividend of $0.24 per share. Trailing debt-to-EBITDA remains modest at 1.5x.
Operational and Talent Improvements
Aggressive hiring across quants, researchers, traders and engineers; attrition rates at multiyear lows. Management reports cultural shift and reestablishing reputation as a firm run by technologists and traders.
Consistent Growth in Execution Services (VES)
Virtu Execution Services (VES) has been consistently above $2 million per day for three consecutive quarters, adding stable contribution to overall results.
Broad Opportunity Set and Flexible Capital Deployment
Management highlighted broad-based opportunities across crypto, options, block ETFs, global equities, retail and proprietary flows and emphasized the firm's ability to move capital opportunistically and connect to electronic liquidity globally.
MX:VIRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed