Marex Group reports Q1 adjusted EPS 91c, consensus 90c

Reports Q1 revenue $467.3M, consensus $458.6M. Ian Lowitt, Group Chief Executive Officer, stated, “Robust levels of client activity across our businesses and positive market conditions led to a strong performance in the first quarter of the year. Adjusted profit before tax grew 42% year-on-year, driven by strong revenue growth in all our business segments. This reflects the continued successful execution of our strategy to expand our geographic footprint and product capabilities, growing our client base, increasing diversification and driving greater earnings resilience. In early April, we experienced some very high-volume days which we processed successfully, reflecting the operational resilience of our platform. We maintained record levels of liquidity and remained disciplined in managing our risk while supporting our clients. We were also delighted with the strong demand from investors for our second follow-on equity offering in challenging markets, further increasing our public float, as well as another successful debt issuance, further diversifying our sources of funding and increasing our liquidity position.”