Marex Group reports Q3 adjusted EPS 96c, consensus 94c

Reports Q3 revenue $484.6M, consensus $481.25M Ian Lowitt, Group Chief Executive Officer, stated, “I’m pleased to report strong third quarter financial results at the top end of our previously announced preliminary range and continuing the momentum from the first half of the year. Revenue for the third quarter was $485 million and we grew Adjusted Profit Before Tax to $101 million, up 25% year on year. In a more challenging operating environment, this quarter demonstrated how we have successfully diversified our business. This has been primarily driven by growth in our Prime services business, which continued to be a standout success and increased the resiliency of our earnings. Clearing remains at the heart of the firm and continued to perform very strongly as we had one of our highest-ever client onboarding quarters, driving 4% growth in average client balances to $13.3 billion. The fourth quarter has started very strongly, and we are optimistic about the rest of the year and the year ahead.”