BGC Q2 Earnings Beat on Record Revenues, Stock Falls as Costs Rise Y/Y
BGC Group posts record Q2 revenues and beats earnings estimates as brokerage and Fenics growth offsets higher costs.
BGC Group, Inc. is a global financial services enterprise that specializes in both brokerage and advanced technology solutions, operating across the United ...
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Est. EPS $0.33 · Revenue $821.91M · 2 analysts
Est. EPS $0.34 · Revenue $836.28M · 1 analysts
Est. EPS $1.41 · Revenue $3.46B · 1 analysts
Est. EPS $0.40 · Revenue $936.28M · 1 analysts
$0.08 per share
$0.08 per share
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $3.0B | +36.3% | -9.4% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $155.0M | +22.0% | -13.9% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +89.5% | +101.7% | -1.0% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +10.5% | +25.4% | -2.3% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +5.2% | -10.5% | -4.9% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $267.8M | +10.1% | +652.7% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +8.9% | -19.2% | +710.1% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 184.7% | +12.4% | -0.7% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 89.14x | +4582.3% | — |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $4.4B | +22.7% | -1.8% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 0.31 vs 1.17 | -73.5% | 0.15 vs 0.34 | -55.2% |
| Revenue Surprise | $3.0B vs $2.9B | +2.5% | $865.5M vs $812.8M | +6.5% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 28, 2026 | AUBIN JEAN-PIERRE | officer: Co-Chief Executive Officer | Class A Common Stock, par value $0.01 per share | D | 373,191 | $12.12 |
| Apr 1, 2026 | Windeatt Sean A | officer: COO and Co-CEO | Class A Common Stock, par value $0.01 per share | A | 268,498 | $0.01 |
| Apr 1, 2026 | Windeatt Sean A | officer: COO and Co-CEO | Class A Common Stock, par value $0.01 per share | D | 5,649 | $9.84 |
| Apr 1, 2026 | MERKEL STEPHEN M | director, officer: Chairman of the Board & GC | Class A Common Stock, par value $0.01 per share | A | 77,882 | $9.84 |
| Apr 1, 2026 | MERKEL STEPHEN M | director, officer: Chairman of the Board & GC | Class A Common Stock, par value $0.01 per share | D | 16,576 | $9.84 |
Operator: Thank you for standing by. Today's presentation will begin momentarily. Greetings, and welcome to the BGC Group Second Quarter 26 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance, please press star 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Jason Chryssicas, head of investor relations. Please go ahead. Jason Chryssicas: Hello, everyone. This morning, we issued BGC's financial results, which will be found at ir.bgcg.com. Any historical results provided on today's call compare only the current period with the prior year period unless otherwise specified. All references on today's call to record or all time high results are to BGC standalone financial results, excluding Newmark prior to the spin off in November 2018. We will be referring to our results on a non GAAP basis, which include the terms adjusted EBITDA and adjusted earnings. Please refer to today's investor materials on our website for additional details on our financial results relevant economic and industry statistics, for the complete and updated definitions of any non GAAP terms, reconciliations of these items to corresponding GAAP results, and how, when, and why management uses them. The outlook discussed today assumes no material acquisitions or dispositions Our expectations are subject to change based on various macroeconomic, social political, and or other factors. Information on this call contains forward looking statements, including without limitation, statements about our economic outlook and business. These statements are subject to risks and uncertainties, which could cause our actual results to differ from expectations. Except as required by law, we undertake no obligation to update any forward looking statements. For information on factors that could cause actual results to differ from forward looking statements and a complete discussion of the risks and other factors that may impact these forward looking statements, see our SEC filings, including, but not limited to, the risk factors and disclosures within these documents. With that, I am now happy to turn the call over to Sean A. Windeatt, co chief executive officer of BGC Group. Sean A. Windeatt: Thank you, Jason. Good morning, and welcome to our second quarter 26 conference call. With me today are my fellow co chief executive officers, John Joseph Abularrage and Jean-Pierre Aubin. Along with our chief financial officer, Jason Williams Hauf. We produce revenues of $846 million, a second quarter record up 8% versus last year. This growth was broad based across every asset class reflecting the durability diversification, and the strength of our global platform. Our revenues for the first half of 2026 were up more than 24% to $1.8 billion the highest ever through the first 2 quarters of the year. Since 2022 and …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Sean A. Windeatt | COO & Co-CEO | USD 8,036,938 | Male | 1973 | Active |
Jean-Pierre Aubin | Co-Chief Executive Officer | USD 7,736,971 | Male | 1968 | Active |
John Joseph Abularrage | Co-Chief Executive Officer | USD 7,736,971 | Male | 1978 | Active |
Stephen Marcus Merkel | Executive Vice President, General Counsel & Chairman of the Board | USD 3,000,000 | Male | 1959 | Active |
Jason Williams Hauf | Executive Vice President & Chief Financial Officer | USD 1,650,000 | Male | 1969 | Active |
Arran Rowsell | Head of Credit Strategy in London | — | Male | — | Active |
Jason Chryssicas | Head of Investor Relations | — | Male | 1986 | Active |
John Battaglia | Senior Vice President & Head of Carbon Markets | — | Male | — | Active |
Louis James Scotto | Chief Executive Officer of FMX | — | Male | 1951 | Active |
Margaret Belden | Senior Managing Director & Chief Human Resources Officer | — | Female | — | Active |
BGC Group posts record Q2 revenues and beats earnings estimates as brokerage and Fenics growth offsets higher costs.
BGC Group, Inc. (BGC) Q2 2026 Earnings Call Transcript
BGC Group (BGC) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.31 per share a year ago.
NEW YORK--(BUSINESS WIRE)--BGC Group, Inc. (Nasdaq: BGC) today reported its financial results for the second quarter ended June 30, 2026. A complete financial results press release, including information about today's conference call and BGC's most recent dividend declaration, is available at http://ir.bgcg.com/, along with BGC's earnings presentation and supplemental financial tables. About BGC Group, Inc. BGC Group, Inc. (Nasdaq: BGC) is a leading global marketplace, data, and financial techn.
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