StoneX Group Inc. Earnings Snapshot

Bottom line

- Both revenue lines and both earnings lines moved in directions consistent with the year-over-year authorized comparisons for this filing. - Revenue from Contract with Customer, Excluding Assessed Tax for the three-month reporting period was lower than the prior-year comparative for the three-month reporting period, while Revenue from Contract with Customer, Excluding Assessed Tax for the nine-month year-to-date period was higher than the prior-year comparative for the nine-month year-to-date period. - Revenues, the second reported revenue line, was higher than the prior-year comparative for both the three-month reporting period and the nine-month year-to-date period. - Net Income (Loss) Attributable to Parent remained a profit in the current three-month reporting period, the current nine-month year-to-date period, and each of their prior-year comparatives; the current three-month result was higher than the prior-year three-month result, and the current nine-month year-to-date result was higher than the prior-year nine-month year-to-date result. - Earnings Per Share, Diluted followed the same pattern, remaining a profit in every period shown and rising against the prior-year comparative in both the three-month and nine-month year-to-date windows.

- The filing describes the Company as a global financial services network connecting companies, organizations, traders, and investors to the global market ecosystem through digital platforms, end-to-end clearing and execution services, high touch service, and deep expertise, with common stock trading on The NASDAQ Global Select Market under the symbol "SNEX". - Management states the accompanying unaudited Condensed Consolidated Balance Sheet has been derived from the audited consolidated balance sheet and that interim financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission, with certain annual disclosures condensed or omitted. - Management indicates all adjustments generally consisting of normal accruals considered necessary for a fair presentation of interim periods have been reflected, and notes that operating results for interim periods are not necessarily indicative of results that may be expected for the full year. - The Company highlights that estimates and assumptions are based on management's best knowledge of current events and actions the Company may undertake in the future, using information reasonably available as of the relevant date and through the date of this Form. - The Company discloses the completion of a stock split during the period, effected as a stock dividend entitling each shareholder of record to receive one additional share of common stock for every two shares owned.

- None. The filing evidence supports direction labels and authorized comparisons only; analyst inference is limited to that surface.

- None. No counter-evidence is present in the filing evidence for this section.

- The filing evidence does not attribute any change to any single cause. - The filing evidence contains no peer or industry comparison. - The filing evidence does not disclose segment-level detail for these dimensions. - Reference-keyed note context for fair-value measurement tiers, controls and procedures, legal proceedings, risk factors, and other Part II items is identified by label only and is not expanded within this section.

Financial performance

YOY - StoneX Group Inc. reported higher diluted Earnings Per Share on a year-to-date basis for the nine months ended June 30, 2026 versus the nine months ended June 30, 2025, with the result moving from one profitable period to a larger profitable period. - On the same year-over-year basis, Net Income (Loss) Attributable to Parent rose across the two nine-month windows, with the prior period already in profit and the current period remaining in profit. - Revenue from Contract with Customer, Excluding Assessed Tax grew year-over-year for the nine-month year-to-date window, with both periods positive and the current period higher than the prior. - Revenues (the alternate revenue presentation) moved higher on the same nine-month comparison, again with both periods in surplus and the current reading above the prior. - Diluted Earnings Per Share also improved for the three-month window when the three months ended June 30, 2026 is set against the three months ended June 30, 2025, holding in profit on both sides. - Net Income (Loss) Attributable to Parent for the three months ended June 30, 2026 exceeded the comparable prior-year quarter, with both quarters profitable. - By contrast, Revenue from Contract with Customer, Excluding Assessed Tax for the standalone three-month period came in below the prior-year quarter, while the alternate Revenues line moved higher on the same quarter-versus-prior-year comparison. - The two revenue lines therefore diverge on the quarter-over-prior-year view, even though both are positive. The filing evidence does not attribute this change to any single cause..

QOQ - The filing does not present quarter-versus-immediately-prior-quarter comparisons in the cited evidence, so no qualitative direction can be asserted between sequential three-month periods for revenue or earnings. The filing evidence is limited to year-over-year pairings. - Where quarter-over-quarter color might be inferred, the machine catalog for this section offers no period pair covering the three months ended June 30, 2026 against an earlier three-month period inside the same fiscal year, and the discussion must therefore remain on the year-over-year pairings the source narrative actually anchors. The filing evidence does not attribute this change to any single cause..

GUIDANCE - Management does not provide forward-looking numerical guidance in the cited portions of the 10-Q filing for period-ended-2026-06-30; no earnings, revenue, or margin targets are disclosed. - The interim disclosures note that operating results for interim periods are not necessarily indicative of the results that may be expected for the full year, framing expectations qualitatively rather than as a numeric outlook. - Estimates and assumptions are flagged as forward-looking inputs into the financials, including fair value measurements for financial instruments, revenue recognition, valuation of inventories, and income taxes, without quantifying any of them. - The filing evidence contains no peer or industry comparison. within the filing evidence, so relative performance against sector peers cannot be benchmarked from this filing alone.

EXPECTATIONS - Reported facts: diluted Earnings Per Share, Net Income (Loss) Attributable to Parent, Revenue from Contract with Customer, Excluding Assessed Tax, and Revenues for the nine months ended June 30, 2026 and the three months ended June 30, 2026, together with each prior-year comparative period, all anchored to the EPS reconciliation in Note 18 and the share-data context in Note 1. - Management explanations: interim results may not be representative of full-year outcomes; share and per-share amounts are retroactively adjusted for the two common stock splits described within the source narrative; estimates may differ materially from actual results. - Analyst inference: the two revenue presentations move in the same direction over the nine months but split on the quarter, with no causal explanation available in the cited text. The filing evidence does not attribute this change to any single cause.. - Counter-evidence: none within the cited text beyond the two opposite quarterly revenue directions already noted. - Unknowns: sequential quarter-over-quarter trends, full-year guidance, and peer benchmarks are not contained in the cited evidence.

Operating drivers and segments

- the filing presents revenue through two top-line captions rather than through detailed operating-segment breakout: Revenue from Contract with Customer, Excluding Assessed Tax and a broader Revenues line. Reported values for the three-month reporting period the three months ended June 30, 2026 stand at $815,100,000 USD and $40,193,000,000 USD, against prior-year comparatives of $851,200,000 USD and $34,828,800,000 USD for the three months ended June 30, 2025. - For the nine-month year-to-date window, the same two captions carry $3,398,300,000 USD and $124,983,800,000 USD, versus prior-year comparatives of $2,334,700,000 USD and $99,654,800,000 USD for the nine months ended June 30, 2025.

- The authorized direction for Revenue from Contract with Customer, Excluding Assessed Tax over the nine-month window is an increase, while the same caption's quarter-on-quarter authorized direction is a decrease. The broader Revenues caption shows an authorized increase on both the nine-month and the quarter view. - Segment-level profitability, expense composition, and asset-side reporting under the new ASU on Improvements to Reportable Segment Disclosures are referenced but not quantified in the quoted evidence available to this section; margin commentary therefore cannot be grounded.

- Management frames the company as a global financial services network connecting clients to the global market ecosystem through digital platforms, clearing and execution services, and expertise, with common stock trading on The NASDAQ Global Select Market under the symbol referenced in SNEX. - Management states that the interim financial information fairly presents financial position and results, that all adjustments consisted of normal accruals, and that estimates and assumptions are based on the best available information with actual results potentially differing.

- Management highlights that the most significant estimates in the current year relate to fair value measurements for financial instruments, revenue recognition, valuation of inventories, and income taxes. - Management cautions that interim operating results are not necessarily indicative of full-year results. - Management notes adoption of an ASU on segment disclosures, which the cited note flags as requiring enhanced disclosures about significant segment expenses.

The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison.

Cash flow and capital

, filing under 10-Q for period-ended-2026-06-30 (accession 0000913760-26-000038), generated cash from operations in the nine months ended on the reporting date of the balance sheet date of June 30, 2026. Operating cash flow came in at $328,500,000, a positive figure that was lower than the $858,900,000 produced in the prior-year comparative window the nine months ended June 30, 2025. Under the reported direction, this represents a decrease in operating cash inflow relative to the prior nine-month period.

- Reported fact — Investing activities used cash during the nine months of the nine months ended June 30, 2026. The investing cash flow line shows -$61,800,000 USD, a negative figure, and the prior-year comparative of the nine months ended June 30, 2025 also produced a use of cash of -$58,900,000 USD. Authorized direction indicates the current-period outflow was larger (a decrease) than the prior-period outflow.

- Reported fact — Financing activities likewise consumed cash. For the nine months ended June 30, 2026 the figure is -$118,700,000 USD, negative, against -$3,900,000 USD in the prior-year nine months. The authorized direction is a decrease, meaning the current outflow is larger than the prior-year outflow.

- Reported fact — Capital spending rose year over year. Payments to acquire property, plant, and equipment reached $52,700,000 USD in the nine months ended June 30, 2026, up from $44,900,000 USD in the nine months ended June 30, 2025, consistent with the authorized direction of an increase. - Reported fact — On the balance sheet side, cash and equivalents stood at $2,194,300,000 USD as of the reporting date the balance sheet date of June 30, 2026.

Accounts payable and other accrued liabilities were recorded at $876,700,000 USD, while the fair-value-disclosure version of accounts payable and accrued liabilities, captured in Note 3’s fair-value framework (Level 1 through Level 3 inputs), was $57,500,000 USD as of the same date. - Analyst inference — Operating cash generation remained positive but slipped versus the prior nine months even as capital expenditures grew, indicating that internally funded investment in fixed assets expanded while operating cash conversion softened.

Larger investing and financing outflows accompany that pattern, leaving the financing gap between operations and total investing plus capex to be covered by cash on hand and external funding. - Counter-evidence — The current evidence does not break financing outflows into share repurchases, debt issuance, or dividend components, so it is not possible to say from this filing alone whether the wider financing outflow reflects deleveraging, return of capital, or both. - Unknowns — A line-by-line reconciliation of cash and equivalents, working capital movements, and the effect of client payables and margin financing on operating cash is not provided in this excerpt.

Segment cash generation is also not surfaced here, and the filing does not connect the change in operating cash inflow to any single driver. The filing evidence does not attribute this change to any single cause. - Management explanation — The narrative around Note 3 emphasises fair-value hierarchy methodology (Level 1, Level 2, Level 3) and the inclusion of counterparty credit risk in derivative valuations under ASU guidance referenced in Note 2, but does not directly explain the cash-flow movements for the nine months of the nine months ended June 30, 2026.

Peer and historical context

For StoneX Group Inc. (SNEX) the historical picture in this 10-Q for period-ended-2026-06-30 is read almost entirely off the year-over-year movement on the income statement and the cash-flow line for operations, because the filing carries no external peer benchmarking.

On the top line, Revenues for the nine months ended June 30, 2026 rose relative to the nine months ended June 30, 2025, and the same direction holds for the three-month comparison of the three months ended June 30, 2026 against the three months ended June 30, 2025. The second revenue label reported by the company, Revenue from Contract with Customer, Excluding Assessed Tax, also expanded on the year-to-date view from the nine months ended June 30, 2025 to the nine months ended June 30, 2026, while the three-month window printed a softer reading in the three months ended June 30, 2026 than in the three months ended June 30, 2025. That split between the two revenue captions is the cleanest cross-check inside the filing itself: the consolidated Revenues line says growth on both windows, whereas the contract-with-customer line says growth on the year-to-date only.

Net Income (Loss) Attributable to Parent improved on both windows, moving from a profit in the nine months ended June 30, 2025 to a profit in the nine months ended June 30, 2026, and from a profit in the three months ended June 30, 2025 to a profit in the three months ended June 30, 2026, consistent with the authorized profit-to-profit transition. Earnings per share diluted carries the same authorized increase on both windows, so the per-share signal aligns with the bottom-line improvement.

Cash generation tells a different story. Net Cash Provided by (Used in) Operating Activities for the nine months ended June 30, 2026 is lower than the comparable figure for the nine months ended June 30, 2025, even though both periods sit on the positive side of the ledger. That divergence — higher revenue and higher earnings but lower operating cash inflow year over year — is the most striking contrast inside the historical comparison and is the kind of gap that a reader can sanity-check against peers such as REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing before drawing conclusions.

The filing evidence does not attribute this change to any single cause.

On the peer side, the filing contains no named industry comparables, no segment-level benchmarks and no external index data, so any read-across to other financials or to broader capital-markets intermediaries is necessarily out of scope here. The filing evidence contains no peer or industry comparison.

Scenario analysis

In the base path, the patterns visible in the reported periods carry forward without sharp regime change. Net Income (Loss) Attributable to Parent trends higher on both the three-month reporting period and the nine-month year-to-date period versus the prior-year comparative. Revenue from Contract with Customer, Excluding Assessed Tax edges higher across the nine-month year-to-date period while dipping modestly on the three-month reporting period versus the prior-year comparative. The total Revenues line rises on both the three-month reporting period and the nine-month year-to-date period relative to the prior-year comparative. Management's discussion of fair-value hierarchy placement, counterparty margin arrangements, and the use of quoted prices in active markets implies a working assumption that observed market liquidity for the instruments held continues to support Level classification consistent with prior periods.

The upside path layers in tailwinds on top of the base. Net Income (Loss) Attributable to Parent moves higher on both reporting windows relative to the prior-year comparative, with the nine-month year-to-date period showing the more pronounced gain. Revenue from Contract with Customer, Excluding Assessed Tax rises on the nine-month year-to-date period and the three-month reporting period versus the prior-year comparative, rather than softening on the shorter window. The total Revenues line accelerates higher on both the three-month reporting period and the nine-month year-to-date period versus the prior-year comparative. Sustained active-market participation for the quoted instruments described in management's fair-value discussion supports Level classification in the most reliable tier for a broader share of the recurring fair-value inventory, and the margin collateral framework described for OTC counterparties continues to absorb credit-risk exposure without notable incremental reserves.

The downside path is the mirror image, with the same comparisons moving against the issuer. Net Income (Loss) Attributable to Parent still trends higher on both reporting windows versus the prior-year comparative, but the nine-month year-to-date period gain narrows. Revenue from Contract with Customer, Excluding Assessed Tax is roughly flat to slightly higher on the nine-month year-to-date period versus the prior-year comparative, and the three-month reporting period decline deepens. The total Revenues line still rises on both windows versus the prior-year comparative, but the growth compresses. Active-market depth thins for some of the equity and government instruments held, pushing a portion of recurring fair-value measurements toward valuation methodologies that rely on less observable inputs, while counterparty margin requirements tighten and increase the operational drag described in management's OTC discussion.

Reported comparability is preserved across both revenue series for each window, and the authorized direction on Earnings Per Share, Diluted is consistent with the upward trend in Net Income (Loss) Attributable to Parent on both windows. Segment-level cause for any single-quarter swing is not disclosed in the filing evidence. Peer or industry context is not disclosed in the filing evidence. The filing evidence does not attribute this change to any single cause.

Risks and what to watch

- Reported facts: For the three-month reporting period, Net Income (Loss) Attributable to Parent was $127,900,000 USD, against $63,400,000 USD in the prior-year three-month window. For the nine-month year-to-date window, Net Income (Loss) Attributable to Parent was $441,200,000 USD, against $220,200,000 USD in the prior-year nine-month window. The Revenue from Contract with Customer, Excluding Assessed Tax line for the three-month reporting period was $815,100,000 USD, versus $851,200,000 USD in the prior-year three-month window, while the nine-month year-to-date figure was $3,398,300,000 USD versus $2,334,700,000 USD in the prior-year nine-month window.

The Revenues line, reported separately, was $40,193,000,000 USD for the three-month reporting period versus $34,828,800,000 USD in the prior-year three-month window, and $124,983,800,000 USD for the nine-month year-to-date period versus $99,654,800,000 USD in the prior-year nine-month window. Filing identity is preserved through 10-Q period-ended-2026-06-30, accession 0000913760-26-000038, with StoneX Group Inc. (SNEX).

- Management explanation: The filing describes how Note 3 – Assets and Liabilities, at Fair Value frames the Company's recurring fair-value measurement and how internally developed models or non-observable inputs feed the lower fair-value tier referenced in Level 1, Level 2, and Level 3. It also notes that contingent liabilities within Level 3 are valued using management-developed discounted cash flow projections, which are an unobservable input. - Analyst inference: The year-over-year direction authorized by the machine catalog indicates that net income rose on both windows (a profit-to-profit transition), while Revenue from Contract with Customer, Excluding Assessed Tax moved in opposite directions across windows (higher on the nine-month comparison, lower on the three-month comparison).

Revenues on the second line moved higher on both windows. The filing evidence does not attribute this change to any single cause. - Counter-evidence: The fact that two distinct revenue lines — Revenue from Contract with Customer, Excluding Assessed Tax and the broader Revenues line — printed different year-over-year directions on the same three-month comparison is itself a useful counter-signal.

Readers triangulating only one of the two revenue lines could reach an opposite read on the quarter. The fair-value discussion in the filing also shows heavy reliance on internally developed models and unobservable inputs in the lower fair-value tier, which can dampen the precision of any marked-to-market revenue item tied to those positions. - Unknowns: The filing evidence does not disclose segment-level detail for either revenue or net income beyond what is summarized above, so The filing evidence does not disclose segment-level detail for this dimension..

It likewise contains no peer or industry comparison, so The filing evidence contains no peer or industry comparison.. No reference to legal proceedings under Item 1, risk-factor updates under Item 1A, market-risk disclosures under Item 3, controls discussion under Item 4, or other Part II items under Item 2, Item 5, or Item 6 appears in the quoted narrative, leaving their content unmapped here. Adoption and per-share notes under Note 2, Note 18, Note 11, Note 1, and Note 22 are likewise not surfaced in the excerpt.

- Metrics to watch next period: Net income direction on the three-month and nine-month windows; Revenue from Contract with Customer, Excluding Assessed Tax on the three-month window versus the nine-month window; and the spread between that contract-revenue line and the broader Revenues line, which has already diverged on this filing. Readers building a watchlist can compare this quarter's directional pattern with peers such as the REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing item and the Arena Group Swings to Loss as Revenue and Operating Profit Soften in Interim Filing item to gauge whether the contract-revenue line or the broader Revenues line tracks industry direction better in the next period.