BGC

Wrapping up Q1 earnings, we look at the numbers and key takeaways for the investment banking & brokerage stocks, including BGC (NASDAQ:BGC) and its peers. Investment banks and brokerages facilitate capital raises, mergers and acquisitions, and securities trading. The sector benefits from corporate activity during economic expansion, increased retail trading participation, and advisory opportunities in emerging sectors. Headwinds include economic cycle vulnerability affecting deal flow, compressed trading commissions due to electronic platforms, and regulatory capital requirements constraining certain higher-risk activities. The 15 investment banking & brokerage stocks we track reported a mixed Q1. As a group, revenues beat analysts’ consensus estimates by 0.8% while next quarter’s revenue guidance was in line. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. Tracing its roots back to 1945 and named after founder Bernard Gerald Cantor, BGC Group (NASDAQ:BGC) operates a global brokerage and financial technology platform that facilitates trading across fixed income, foreign exchange, equities, energy, and commodities markets. BGC reported revenues of $923 million, up 44.3% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with EPS in line with analysts’ estimates but a significant miss of analysts’ EBITDA estimates. Interestingly, the stock is up 3.3% since reporting and currently trades at $11.25. Is now the time to buy BGC? Access our full analysis of the earnings results here, it’s free. Founded in 1995 as a boutique advisory firm focused on independence and client trust, Evercore (NYSE:EVR) is an independent investment banking firm that provides strategic advisory, capital markets, and wealth management services to corporations, financial sponsors, and high-net-worth individuals. Evercore reported revenues of $1.40 billion, up 100% year on year, outperforming analysts’ expectations by 16.6%. The business had an incredible quarter with a beat of analysts’ EPS and revenue estimates. Evercore pulled off the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems content with the results as the stock is up 1.7% since reporting. It currently trades at $346.30. Is...

BGC Group’s first quarter was marked by robust revenue growth across all asset classes and geographies, which the market viewed positively. Management attributed the outperformance to both organic expansion and the successful integration of recent acquisitions, particularly in energy and shipping. CEO John Joseph Abularrage emphasized the impact of broad-based gains, stating, “Our ECS revenues more than doubled, reinforcing our position as the world’s largest energy broker.” The executive team noted that while geopolitical volatility provided some incremental upside, most of the revenue growth reflected underlying business strength and ongoing cost-efficiency measures. Is now the time to buy BGC? Find out in our full research report (it’s free). Revenue: $923 million vs analyst estimates of $923.4 million (44.3% year-on-year growth, in line) Adjusted EPS: $0.41 vs analyst estimates of $0.41 (in line) Adjusted EBITDA: $253.2 million vs analyst estimates of $270.8 million (27.4% margin, 6.5% miss) Revenue Guidance for Q2 CY2026 is $815 million at the midpoint, below analyst estimates of $826.9 million Operating Margin: 12.1%, up from 10.9% in the same quarter last year Market Capitalization: $5.35 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Patrick Malcolm Moley (Piper Sandler) asked about the sustainability of energy and shipping revenue growth post-geopolitical volatility. Co-CEO Sean A. Windeatt clarified that most growth was structural, not cyclical, with only $20 million attributable to the Iran conflict. Patrick Malcolm Moley (Piper Sandler) inquired about the expanded cost reduction program and its future trajectory. Windeatt emphasized ongoing reviews and indicated that further savings beyond the current $35 million target are likely as the company continues to identify new opportunities. Eli Abboud (Bank of America) questioned the sharp deceleration implied in Q2 revenue guidance. Windeatt explained that difficult comparisons, due to last year's extraordinary events and recent divestitures, account for the lower projected growth rate. Eli Abboud (Bank of America) asked why BGC’s high-touch busines...

BGC Group, Inc. has already reported its first-quarter 2026 results, with revenue rising to US$955.48 million and net income to US$84.15 million, and also declared a quarterly dividend of US$0.0200 per share payable on June 10, 2026. The earnings showed meaningful year-on-year improvements in earnings per share from continuing operations, while management highlighted especially strong momentum in its Energy and Commodity Services business alongside a cautious outlook for the next quarter. We’ll now examine how this strong first-quarter performance, particularly in Energy and Commodity Services, affects BGC Group’s existing investment narrative. Rare earth metals are the new gold rush. Find out which 33 stocks are leading the charge. To own BGC Group, you need to believe in its ability to translate its brokerage scale and technology platforms into sustainable earnings, even as market volatility normalizes. The strong first quarter, led by Energy and Commodity Services, supports that thesis near term but does not remove the key risk that activity could soften if recent trading tailwinds fade. The latest earnings release is the most relevant development here, with revenue rising to US$955.48 million and EPS from continuing operations at US$0.17. Management’s cautious outlook for the next quarter sits alongside this strong print, reminding investors that BGC’s transaction driven revenue can still be pressured if volatility and volumes retreat. Yet behind the strong quarter, investors should be aware that BGC’s reliance on elevated trading volumes could become a headwind if... Read the full narrative on BGC Group (it's free!) BGC Group's narrative projects $4.2 billion revenue and $1.7 billion earnings by 2028. This requires 19.6% yearly revenue growth and roughly a $1.6 billion earnings increase from $146.6 million today. Uncover how BGC Group's forecasts yield a $14.50 fair value, a 27% upside to its current price. Members of the Simply Wall St Community currently see fair value for BGC Group anywhere between US$3.05 and US$14.50 across 2 individual assessments, highlighting very different expectations. When you set that against BGC’s strong Q1 revenue performance and management’s warning about potentially softer conditions, it becomes even more important to weigh several perspectives on how sustainable current trading volumes really are. Explore 2 other fair v...

Financial brokerage and technology company BGC Group (NASDAQ:BGC) met Wall Street’s revenue expectations in Q1 CY2026, with sales up 44.3% year on year to $923 million. On the other hand, next quarter’s revenue guidance of $815 million was less impressive, coming in 1.4% below analysts’ estimates. Its non-GAAP profit of $0.41 per share was in line with analysts’ consensus estimates. Is now the time to buy BGC? Find out in our full research report (it’s free). Revenue: $923 million vs analyst estimates of $923.4 million (44.3% year-on-year growth, in line) Adjusted EPS: $0.41 vs analyst estimates of $0.41 (in line) Adjusted EBITDA: $253.2 million vs analyst estimates of $270.8 million (27.4% margin, 6.5% miss) Revenue Guidance for Q2 CY2026 is $815 million at the midpoint, below analyst estimates of $826.9 million Operating Margin: 11.8%, in line with the same quarter last year Market Capitalization: $5.35 billion BGC Group’s first quarter was marked by robust revenue growth across all asset classes and geographies, which the market viewed positively. Management attributed the outperformance to both organic expansion and the successful integration of recent acquisitions, particularly in energy and shipping. CEO John Joseph Abularrage emphasized the impact of broad-based gains, stating, “Our ECS revenues more than doubled, reinforcing our position as the world’s largest energy broker.” The executive team noted that while geopolitical volatility provided some incremental upside, most of the revenue growth reflected underlying business strength and ongoing cost-efficiency measures. Looking forward, BGC’s guidance reflects a more moderate growth outlook, shaped by normalization in market volatility and difficult comparisons to last year’s unusually active periods. Management indicated that, while Q2 will be affected by the absence of similar geopolitical drivers and the divestiture of certain non-core businesses, organic growth initiatives remain intact. Co-CEO Sean A. Windeatt highlighted, “Trading levels are returning to normality, and we tried to reflect that in our guidance,” suggesting a stabilization of activity absent extraordinary events. Leadership reaffirmed the focus on product innovation and further cost reductions as key levers for margin expansion. Management highlighted that revenue growth stemmed largely from organic expansion, integration of acqu...

Record revenue growth of 44% was primarily driven by the successful integration of OTC Global Holdings and strong organic performance across all asset classes. The Energy, Commodities, and Shipping (ECS) segment more than doubled in revenue, solidifying BGC's position as the world's largest energy broker. Management attributed the vast majority of quarterly performance to underlying business strength, noting that the Iran conflict contributed only an incremental $20 million to the total $955.5 million revenue. FMX US Treasury market share reached a record 41%, up from 33% a year ago, demonstrating successful displacement of incumbents in the rates market. The company expanded its annualized cost savings target from $25 million to $35 million, primarily through compensation adjustments and closing non-profitable logistics units. Growth in the Fenics electronic platform was led by higher trading volumes in rates, credit, and FX, alongside increased demand for market data services. Second quarter revenue guidance of $785 million to $845 million assumes a return to market normality following high volatility in the prior year period. The Q2 outlook accounts for a $50 million bridge from Q1, comprised of $10 million from the KACE sale and logistics unit closure, the lapping of a $20 million tariff-driven volume spike in Q2 2025, and the non-recurrence of a $20 million revenue benefit from the Iran conflict seen in Q1 2026. Management expects share repurchases to increase throughout the remainder of 2026 as the company moves past the seasonally high cash-use period of the first quarter. The Lucera infrastructure business is projected to maintain a 20% plus growth rate as it expands connectivity into new fixed income and FX product lines. Full-year 2026 adjusted earnings tax rate is anticipated to remain between 11% and 14%. Completed the sale of the KACE Financial business on December 31, 2025, for up to $119 million to streamline the Fenics portfolio. Closed a non-profitable logistics business previously operated by OTC to eliminate drag on margins and focus on core brokerage. Identified a temporary 'risk-off' decline in FMX futures open interest due to geopolitical conflict, though management reports recovery trends are already emerging. Compensation expenses increased by 51.5% for adjusted earnings, reflecting the OTC acquisition, higher commissionable revenues,...

BGC Group (BGC) came out with quarterly earnings of $0.41 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.24%. A quarter ago, it was expected that this brokerage company would post earnings of $0.29 per share when it actually produced earnings of $0.31, delivering a surprise of +6.9%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. BGC Group, which belongs to the Zacks Financial - Investment Bank industry, posted revenues of $955.48 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.16%. This compares to year-ago revenues of $664.24 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. BGC Group shares have added about 22% since the beginning of the year versus the S&P 500's gain of 7.6%. While BGC Group has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for BGC Group was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It w...

BGC Declares Quarterly Dividend of 2 Cents Conference Call to Discuss Results Scheduled for 10:00 AM ET Today NEW YORK, May 07, 2026--(BUSINESS WIRE)--BGC Group, Inc. (Nasdaq: BGC) today reported its financial results for the first quarter ended March 31, 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 technology services company for a broad range of products, including fixed income, foreign exchange, energy, commodities, shipping, equities, and now includes the FMX Futures Exchange. BGC’s clients are many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC and leading global investment banks and market making firms have partnered to create FMX, part of the BGC Group of companies, which includes a U.S. interest rate futures exchange, spot foreign exchange platform and the world’s fastest growing U.S. cash treasuries platform. For more information about BGC, please visit www.bgcg.com. Discussion of Forward-Looking Statements about BGC Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission ("SEC") filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information containe...

Wall Street expects a year-over-year increase in earnings on higher revenues when BGC Group (BGC) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 7. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This brokerage company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of +41.4%. Revenues are expected to be $926.2 million, up 39.4% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings o...

Tradeweb Markets (TW) came out with quarterly earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.06 per share. This compares to earnings of $0.86 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.61%. A quarter ago, it was expected that this electronic marketplaces operator would post earnings of $0.85 per share when it actually produced earnings of $0.87, delivering a surprise of +2.35%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Tradeweb, which belongs to the Zacks Financial - Investment Bank industry, posted revenues of $617.76 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.15%. This compares to year-ago revenues of $509.68 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Tradeweb shares have added about 4.5% since the beginning of the year versus the S&P 500's gain of 4.3%. While Tradeweb has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Tradeweb was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering BGC Group (BGC), which belongs to the Zacks Financial - Investment Bank industry. When looking at the last two reports, this brokerage company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 5.23%, on average, in the last two quarters. For the most recent quarter, BGC Group was expected to post earnings of $0.29 per share, but it reported $0.31 per share instead, representing a surprise of 6.90%. For the previous quarter, the consensus estimate was $0.28 per share, while it actually produced $0.29 per share, a surprise of 3.57%. Thanks in part to this history, there has been a favorable change in earnings estimates for BGC Group lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. BGC Group has an Earnings ESP of +1.24% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on May 7, 2026. Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric. Many companies end up beating the consensus EPS estimate, though this i...

Conference call to be hosted at 10:00 a.m. ET NEW YORK, April 09, 2026--(BUSINESS WIRE)--BGC Group, Inc. (Nasdaq: BGC) will announce its first quarter 2026 financial results on Thursday, May 7, 2026, at approximately 8:00 a.m. ET. A conference call to review the results will follow at 10:00 a.m. ET. BGC plans to issue an advisory press release regarding the availability of its consolidated quarterly financial results at approximately 8:00 a.m. ET on Thursday, May 7, 2026, which will be accessible at http://ir.bgcg.com. BGC will host a conference call on Thursday, May 7, 2026, at 10:00 a.m. ET for investors. WHO: BGC Group, Inc. (Nasdaq: BGC) WHAT: First Quarter 2026 financial results conference call WHEN: Thursday, May 7, 2026, at 10:00 a.m. ET WHERE: http://ir.bgcg.com Participants may join the webcast by accessing the link at http://ir.bgcg.com or directly at https://www.webcast-eqs.com/bgc2026_q1. Participants can pre-register for the conference call and also listen to a replay at http://ir.bgcg.com. LIVE CALL: U.S. Dial-in: 1-877-407-0312 International Dial-in: 1-201-389-0899 About BGC Group, Inc. BGC Group, Inc. (Nasdaq: BGC) is a leading global marketplace, data, and financial technology services company for a broad range of products, including fixed income, foreign exchange, energy, commodities, shipping, equities, and now includes the FMX Futures Exchange. BGC's clients are many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC and leading global investment banks and market making firms have partnered to create FMX, part of the BGC Group of companies, which includes a U.S. interest rate futures exchange, spot foreign exchange platform and the world's fastest growing U.S. cash treasuries platform. For more information about BGC, please visit www.bgcg.com. Discussion of Forward-Looking Statements about BGC Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, p...