Interest and fee income on client balances decreased 11% year-over-year due to lower short-term interest rates but increased modestly sequentially.
Net operating revenues increased 4% year-over-year, driven by growth in securities, payments, and FX CFDs, offset by declines in physical contracts, listed and OTC derivatives.
Segment performance varied: Commercial segment revenues declined 24% with segment income down 36%, Institutional segment achieved record revenues and income growth of 27% and 41%, respectively, and Self-directed retail segment revenues and income increased 18% and 49%.
StoneX reported Q3 fiscal 2025 net income of $63.4 million with diluted EPS of $1.22, reflecting 2% net income growth but a 2% decline in EPS due to increased shares outstanding.
Trailing 12-month results showed operating revenues up 17%, net income up 26% to $296.9 million, EPS of $5.87, and return on equity of 16.6%, exceeding the 15% target.
Adjusted noninterest expense rose 1% sequentially and 3% year-over-year, with disciplined expense control and higher employment costs.
Adjusted noninterest revenue increased 12% sequentially and 3% year-over-year, driven by capital markets fees rebound and wealth management income growth.
Adjusted pre-provision net revenue rose 5% sequentially and 7% year-over-year.
Capital ratios strengthened, with CET1 ratio at 10.91%, the highest in company history, supported by earnings and share repurchases.
Core deposits declined 2% sequentially, driven by public funds and broker deposits, but deposit costs improved with a 4 basis point decline in average cost of deposits to 2.22%.
Credit quality improved with net charge-offs at $18 million (17 basis points), better than guidance, and nonperforming loans decreased to 0.59% of total loans.
Loan balances increased by $888 million or 2% sequentially, with strong growth in high-growth verticals and specialty lending.
Net interest margin expanded modestly to 3.37%, with net interest income growing 6% year-over-year.
Synovus reported GAAP and adjusted earnings per share of $1.48, a 14% increase from the first quarter and 28% year-over-year.
Ameriprise reported adjusted operating EPS growth of 7% to $9.11 with a strong margin of 27%.
Ameriprise returned 81% of operating earnings to shareholders in the quarter and plans to increase payout ratio to 85% for the second half of the year.
Asset management operating earnings increased 2% to $222 million with margins at 39%.
Free cash flow generation remains strong with a 90% free cash flow conversion rate across segments.
Retirement and Protection Solutions earnings increased 9% to $214 million, driven by favorable life claims and strong interest earnings.
Return on equity remains very strong at 52%, among the industry's best.
The bank's total assets increased 6%, with good loan growth and spread earnings.
Total revenues increased 4% driven by asset growth and strong transactional activity.
Wealth management client assets grew 11% to a record $1.1 trillion, with wrap assets up 15%.
Dafinchi