INTL FCStone Inc. reports Fiscal 2017 Second Quarter Financial Results 

INTL FCStone Inc. (NASDAQ:INTL), a diversified global financial services organization providing execution, risk management and advisory services, market intelligence and clearing services across asset classes and markets around the world, announced its financial results for the fiscal year 2017 second quarter ended March 31, 2017.

Sean M. O’Connor, CEO of INTL FCStone Inc., stated, “Despite historic low levels of volatility in our markets during the quarter, we achieved net earnings of $0.58 per share. This is below our medium term expectations, but above net earnings in the prior year quarter as well as the immediately preceding 1st quarter when mark to market movements of our corporate interest rate program are excluded. Income in all of our segments improved versus the prior year with the exception of our Securities segment which was down 36%, coming off a strong prior year’s quarter, when it saw record results in market making and significant gains out of Argentina. Commercial Hedging segment net income was up 36% due to improved OTC revenues, Global Payments’ segment income was up 26% on strong volume growth tempered by reduced margins as global and domestic banks increased their flow of smaller payments through us. Our Physical Commodities segment’s income was up 105% due primarily to a 26% increase in the number of ounces of precious metals traded and business expansion in our Physical Ag & Energy businesses. Clearing and Execution Services segment income grew as a result of increased operating revenues in our Exchange-traded Futures & Options business as well as the acquisition of the Correspondent Clearing, Independent Wealth Management and Derivative Voice Brokerage businesses.”

“While our 2nd quarter returns are below our targets, we are poised to take advantage of continued consolidation in our markets, rising interest rates, and potential increases in market volatility.”

INTL FCStone Inc. Summary Financials

For the Full results, click HERE

Source: INTL FCStone Inc.

 

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