StoneX Revenues Rise, But FX/CFD Contracts Segment Declines in Q2

Net income increased 35% to $71.7 million, while diluted earnings per share rose 29% to $1.41.

Executive Vice Chairman Sean O’Connor credited the gains to “solid performance across a wide range of our products and segments,” citing increased market volatility and strong client engagement as positive drivers. 

Return on equity rose to 15.7%, up from 14% in the prior year period.

However, despite broad-based growth, the firm’s FX and contracts for difference (CFD) segment saw revenue decline 12% to $70.9 million in the quarter. 

This was attributed to a 19% drop in revenue per million (RPM) despite a 10% rise in average daily volume (ADV), indicating weaker profitability per trade.

Securities trading led the gains with a 25% year-over-year revenue increase to $426.7 million, while physical contracts surged 58% to $72.6 million. Listed derivatives and OTC derivatives revenue also rose by 15% and 14%, respectively.

StoneX recently announced a definitive agreement to acquire R.J. O’Brien, the oldest futures brokerage in the U.S. O’Connor said the acquisition is expected to enhance margins and EPS and add nearly $6 billion in client float.

“We believe this positions us as a market leader in global derivatives,” he said, with the deal expected to close in the second half of 2025.