Why Marex Group Stock Was a Major Winner on Wednesday
Key Points
It published preliminary results for its recently completed third quarter.
It seems it'll show significant growth in key fundamentals.
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Marex Group (NASDAQ: MRX), a somewhat under-the-radar finance sector company that specializes in providing services to brokerages, had a fine Wednesday on the stock market.
That morning, the company disseminated some preliminary figures for its third quarter that investors found very appealing. As a result, its shares rose by nearly 12% across the day, comparing most favorably to the 0.6% bump higher posted by the S&P 500 (SNPINDEX: ^GSPC).
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Anticipated double beats for the third quarter
That morning, Marex published estimated metrics for its third quarter, which ended Sept. 30. The company said that revenue likely landed at $475 million to $485 million. Even hitting the low end of that range would mean considerable growth, as the actual figure from the same quarter in 2024 was $391 million.
Image source: Getty Images.
The dynamic is similar for generally accepted accounting principles (GAAP) net profit, which Marex management believes will come in at $70 million to $73 million, against the third quarter 2024's $58 million. On a non-GAAP (adjusted) per-share basis, the company is modeling $0.92 to $0.97 profit per share; the year-ago figure was $0.76.
Both ranges sit above the average analyst estimates, which are just under $474 million for revenue and $0.91 per share for adjusted profitability.
Marex quoted its CEO Ian Lowitt as saying that its performance in the just-finished quarter "reflects the strength and resilience of the franchise we've built -- one designed to grow and perform across a range of market environments."
Official figures coming in a few weeks
Marex's audited (and therefore official) results are scheduled to be published on Nov. 6, and will be accompanied by a conference call with management. We should get more details about how the quarter went, but so far, the company seems to be doing well on the back of frothy securities markets. We'll see if it can maintain that momentum.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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