Jun 2026 (Q2 FY26) — Jul 30, 2026
BGC Group Q2 FY26 — Record Revenue and FMX Market Share Gains
Read the full callBGC Group (BGC) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
BGC Group earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 846 | +7.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 72.5 | +26.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
14 of 17 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Pre-tax adjusted earnings | $178 million to $196 million | Mar 2026 | Our pretax adjusted earnings grew by 11.1% to $192.9 million, representing a pretax incremental margin of 31.3%. | Achieved |
| Adjusted earnings tax rate | 11% to 14% | Mar 2026 | We expect our adjusted earnings tax rate to be between 11% and 14% for the full year 2026. | On Track |
3 of BGC Group, Inc.'s 32 targets were missed. See which ones, and which are quietly gone. The 2 above are the free sample; 30 more targets are in the full ledger.
Claimed
- Record second quarter revenues of $846 million, up 8% versus last year.
- First half 2026 revenues up more than 24% to $1.8 billion, the highest ever through the first 2 quarters.
- FMX UST market share grew to 42%, a new all-time high, up from 35% a year ago.
- Fenics revenues increased by 14.3% to a second quarter record of $186.2 million.
- Pretax adjusted earnings grew by 11.1% to $192.9 million.
Qualified
- Asia Pacific revenues decreased by 2.9% YoY.
- Lower oil and refined product volumes partially offset ECS growth due to disruptions caused by the Strait of Hormuz closure.
- Equities growth partially offset by lower European equity derivative activity.
- Reduced Iran-driven volatility impacted SOFR ADV earlier in the quarter, though it rebounded strongly in June.
Price
$11.6 +0.78% · +$0.09
Performance +26.5% 1Y
1Y: $9.17 on 14 Oct 2025 → $11.6. High $12.65 (24 Jun 2026), low $8.31 (20 Nov 2025).
- Previous close
- $11.51
- 52-week range
- $8.31 – $12.65
- One year
- +24.87%
Overview
- Symbol
- BGC
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
14 of 17 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Pre-tax adjusted earnings | $178 million to $196 million | Mar 2026 | Our pretax adjusted earnings grew by 11.1% to $192.9 million, representing a pretax incremental margin of 31.3%. | Achieved |
| Adjusted earnings tax rate | 11% to 14% | Mar 2026 | We expect our adjusted earnings tax rate to be between 11% and 14% for the full year 2026. | On Track |
Claimed
- Record second quarter revenues of $846 million, up 8% versus last year.
- First half 2026 revenues up more than 24% to $1.8 billion, the highest ever through the first 2 quarters.
- FMX UST market share grew to 42%, a new all-time high, up from 35% a year ago.
- Fenics revenues increased by 14.3% to a second quarter record of $186.2 million.
- Pretax adjusted earnings grew by 11.1% to $192.9 million.
Qualified
- Asia Pacific revenues decreased by 2.9% YoY.
- Lower oil and refined product volumes partially offset ECS growth due to disruptions caused by the Strait of Hormuz closure.
- Equities growth partially offset by lower European equity derivative activity.
- Reduced Iran-driven volatility impacted SOFR ADV earlier in the quarter, though it rebounded strongly in June.
The full ledger
Open BGC Group, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 32 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
BGC Group Q1 FY26 — Record Revenues and Pretax Earnings
Read the full callEvery analysed call
BGC Group earnings calls (BGC)
Financials
What the filings say
Net profit, year on year: +26% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 561 | 572 | 664 | 784 | 737 | 756 | 955 | 846 |
| Other income | 7 | 41 | 2 | 3 | 2 | 82 | 7 | 27 |
| Profit before tax | 20 | 27 | 80 | 75 | 33 | 25 | 115 | 99 |
| Tax rate | 30.4% | 14.3% | 33.2% | 25.3% | 22.2% | 56.7% | 27.7% | 30.4% |
| Net profit | 15 | 25 | 55 | 58 | 28 | 14 | 84 | 72 |
| EPS ($ per share) | 0.03 | — | 0.11 | 0.11 | 0.06 | — | 0.17 | 0.15 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | -1,105 | -1,253 | -1,281 | -1,172 | -1,138 | -1,119 | -1,026 | -910 |
| Total liabilities | 2,545 | 3,178 | 3,121 | 2,660 | 2,326 | 2,278 | 2,513 | 3,267 |
| Fixed assets | 157 | 205 | 215 | 190 | 183 | 178 | 190 | 182 |
| Total assets | 3,433 | 3,927 | 3,953 | 3,342 | 3,075 | 3,176 | 3,592 | 4,412 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -67 | 241 | 303 | 417 | 224 | 405 | 315 | 394 |
| Cash from investing | — | -43 | -78 | 121 | -53 | -91 | -97 | -283 |
| Cash from financing | — | 18 | -13 | -820 | -233 | -147 | -149 | 21 |
| Net cash flow | -380 | 219 | 213 | -287 | -65 | 171 | 60 | 140 |
| Capital expenditure | -25 | -47 | -31 | -10 | -11 | -15 | -30 | -21 |
| Free cash flow | -92 | 194 | 272 | 407 | 214 | 390 | 286 | 373 |
BGC revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | — | — | — | 100% | 100% | 100% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
BGC operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Average daily volume FMX UST | $89.7BFMX UST generated record quarterly ADV of $89.7 billion, 51% higher compared to last year.Source: earnings call transcript | $79.4BFMX UST generated record second quarter ADV of $79.4 billion, 17% higher compared to last year.Source: earnings call transcript | -11.5% |
| Average daily volume FMX FX | $20.5BFMX FX average daily volumes increased by 42% to a record $20.5 billion, driven by strong growth across spot FX and NDF volumes, resulting in continued market share gains.Source: earnings call transcript | $18BFMX FX average daily volumes increased by 16% to $18 billion, driven by continued growth across spot FX and NDF volumes, resulting in continued market share gains.Source: earnings call transcript | -12.2% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- EMEA 55% ↑ 5 pt
- GB 37% ↑ 4 pt
- Americas 35% ↓ 2 pt
- US 32% ↓ 1 pt
- Asia Pacific 10% ↓ 4 pt
As BGC cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
17 filings between Nov 12, 2025 and Aug 28, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$95.5K
1 sale by 1 insider
Compensation
not trading decisions- 9
- Award — granted as compensation
- 5
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 dispositions to the issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| AUBIN JEAN-PIERRE | — | $95.5K | Mar 5, 2026 |
Latest filings (49)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 28, 2026 | AUBIN JEAN-PIERRE Co-Chief Executive Officer | Disposition to issuer | 373,191 | $4.52M |
| Apr 1, 2026 | Windeatt Sean A COO and Co-CEO | Award | 268,498 | — |
| Apr 1, 2026 | AUBIN JEAN-PIERRE Co-Chief Executive Officer | Award | 269,557 | — |
| Apr 1, 2026 | Hauf Jason W. Chief Financial Officer | Award | 42,835 | — |
| Apr 1, 2026 | Hauf Jason W. Chief Financial Officer | Tax withheld | 6,320 | $62.2K |
| Apr 1, 2026 | MERKEL STEPHEN M Chairman of the Board & GC | Award | 77,882 | $766.4K |
| Apr 1, 2026 | MERKEL STEPHEN M Chairman of the Board & GC | Tax withheld | 16,576 | $163.1K |
| Apr 1, 2026 | Windeatt Sean A COO and Co-CEO | Tax withheld | 5,649 | $55.6K |
| Apr 1, 2026 | ABULARRAGE JOHN J. Co-Chief Executive Officer | Award | 350,727 | — |
| Mar 15, 2026 | AUBIN JEAN-PIERRE Co-Chief Executive Officer | Tax withheld | 14,392 | $137.7K |
| Mar 15, 2026 | ABULARRAGE JOHN J. Co-Chief Executive Officer | Tax withheld | 41,516 | $397.3K |
| Mar 5, 2026 | AUBIN JEAN-PIERRE Co-Chief Executive Officer | Sale | 10,000 | $95.5K |
| Jan 22, 2026 | Windeatt Sean A COO and Co-CEO | Disposition to issuer | 246,360 | $2.26M |
| Nov 12, 2025 | Bell Linda A Director | Award | 5,447 | $0 |
| Nov 12, 2025 | Richards David Director | Award | 5,447 | $0 |
| Nov 12, 2025 | MBANEFO ARTHUR U Director | Award | 5,447 | $0 |
| Nov 12, 2025 | Addas William Dean Director | Award | 5,447 | $0 |
| Oct 6, 2025 | Lutnick Brandon Director | Purchase | 96,313,001 | — |
| Oct 6, 2025 | Lutnick Brandon Director | Purchase | 3,946,149 | — |
| Oct 6, 2025 | Lutnick Brandon Director | Purchase | 8,973,721 | $82.63M |
| Oct 6, 2025 | Lutnick Brandon Director | Purchase | 600,938 | — |
| Oct 6, 2025 | LUTNICK HOWARD W Director | Sale | 96,313,001 | — |
| Oct 6, 2025 | LUTNICK HOWARD W Director | Sale | 3,946,149 | — |
| Oct 6, 2025 | LUTNICK HOWARD W Director | Sale | 600,939 | — |
| Oct 6, 2025 | LUTNICK HOWARD W Director | Disposition to issuer | 337,765 | $3.11M |
| Oct 6, 2025 | LUTNICK HOWARD W Director | Sale | 8,973,721 | $82.63M |
| Oct 6, 2025 | CANTOR FITZGERALD, L. P. Director | Purchase | 8,973,721 | $82.63M |
| Oct 6, 2025 | CF GROUP MANAGEMENT INC Director | Purchase | 8,973,721 | $82.63M |
| Oct 3, 2025 | MERKEL STEPHEN M Chairman of the Board & GC | Disposition to issuer | 16,511 | $152.1K |
| Aug 21, 2025 | Hauf Jason W. Chief Financial Officer | Sale | 29,023 | $286.2K |
| Jul 30, 2025 | Hauf Jason W. Chief Financial Officer | Tax withheld | 12,849 | $124.9K |
| Jun 10, 2025 | MBANEFO ARTHUR U Director | Disposition to issuer | 12,205 | $119.0K |
| Jun 10, 2025 | MBANEFO ARTHUR U Director | Sale | 18,151 | $177.3K |
| May 16, 2025 | LUTNICK HOWARD W Director | Disposition to issuer | 5,616,612 | $51.72M |
| May 16, 2025 | LUTNICK HOWARD W Director | Disposition to issuer | 10,498,490 | $96.67M |
| Apr 1, 2025 | ABULARRAGE JOHN J. Co-Chief Executive Officer | Award | 164,890 | — |
| Apr 1, 2025 | AUBIN JEAN-PIERRE Co-Chief Executive Officer | Award | 78,456 | — |
| Apr 1, 2025 | MERKEL STEPHEN M Chairman of the Board & GC | Award | 72,751 | — |
| Apr 1, 2025 | Windeatt Sean A COO and Co-CEO | Award | 73,098 | — |
| Apr 1, 2025 | Windeatt Sean A COO and Co-CEO | Tax withheld | 5,649 | $52.1K |
| Apr 1, 2025 | MERKEL STEPHEN M Chairman of the Board & GC | Tax withheld | 8,529 | $78.6K |
| Apr 1, 2025 | Hauf Jason W. Chief Financial Officer | Award | 38,360 | — |
| Apr 1, 2025 | Hauf Jason W. Chief Financial Officer | Tax withheld | 3,228 | $29.8K |
| Mar 4, 2025 | Bell Linda A Director | Disposition to issuer | 12,727 | $119.0K |
| Feb 5, 2025 | LUTNICK HOWARD W Chairman and CEO | Tax withheld | 721,590 | $6.77M |
| Sep 16, 2024 | Addas William Dean Director | Award | 5,046 | $0 |
| Sep 16, 2024 | Bell Linda A Director | Award | 5,046 | $0 |
| Sep 16, 2024 | MBANEFO ARTHUR U Director | Award | 5,046 | $0 |
| Sep 16, 2024 | Richards David Director | Award | 5,046 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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