BGC · BGC Group, Inc

BGC Group delivered record Q1 2026 results with total revenues of $955.5 million, up 43.8% from $664.2 million in Q1 2025, primarily driven by the OTC acquisition boosting ECS revenues 120.1% to $330 million and strong organic growth across Rates (+27.5%), Equities (+34.3%), and FX (+19.1%). Excluding OTC, revenues still rose 23% to $817.1 million, underscoring underlying business strength amplified by Iran conflict volatility in late quarter. Fenics revenues grew 19.8% to $206.9 million, with FMX platforms setting ADV records: UST at $89.7 billion (+51%, 41% share), FX at $20.5 billion (+42%), and Futures SOFR open interest surging to 143,000 contracts. Pre-tax Adjusted Earnings reached an all-time high of $232.1 million (+44.9%), with margins at 24.3%, while GAAP pre-tax income rose 44.3% to $115.4 million. Expenses increased with revenues, but cost savings from a $35 million annualized plan (expanded from $25 million) support margin expansion. Co-CEO John Abularrage highlighted record results across asset classes and geographies, ECS leadership, and FMX momentum. Q2 guidance projects revenues $785-845 million and pre-tax Adjusted Earnings $178-196 million, signaling continued growth. A $0.02 quarterly dividend was declared, payable June 10 to May 27 record holders. Balance sheet shows total assets at $5.86 billion as of March 31, 2026, up from $4.41 billion year-end, reflecting acquisition impact.