Marex Group sees Q1 adjusted EPS 88c-93c, consensus 77c

Sees Q1 revenue $449.3M-$464.3M, consensus $432.58M. Marex Group (MRX) provides a Q1 trading update at its Investor Day, being held today at the Nasdaq Marketsite in New York City. Marex reports a strong start to the year with positive momentum and supportive market conditions continuing through the first quarter of 2025. Client activity has remained strong across the platform with high levels of exchange volumes driven by volatility. Agency and Execution has benefited from strong performance in the Prime Services business and continued progress in the Energy business. As a result, first quarter 2025 revenues are expected to be in a range of $449.3M to $464.3M and Adjusted Profit Before Tax in a range of $92.3M to $97.3M. Ian Lowitt, CEO, stated: “Very robust levels of client activity across our businesses and positive market conditions have continued into 2025 and led to a strong performance in the first quarter of the year, building on our performance in 2024. These benefits more than outweighed the impact of lower net interest income partly arising from the interest rate environment, compared to the fourth quarter of 2024. This demonstrates the successful execution of our strategy to diversify our business and deliver sustainable growth through a variety of market conditions by expanding our geographic footprint and product capabilities, increasing our relevance to a growing client base.”