Marex reported record Q2 results: Revenue rose 39% year over year to $696 million, while adjusted profit before tax climbed 56% to $166 million and adjusted EPS increased 59% to $1.72. First-half adjusted profit before tax reached $319 million, matching the company's full-year 2024 result. Growth was broad-based and largely organic: Agency and execution, market-making, and solutions delivered strong revenue and profit gains despite a 17% sequential decline in exchange volumes.
About 80% of Q2 profit growth was organic, while the number of clients generating more than $5 million annually increased to 77. Management maintained a positive outlook: Marex expects growth toward the upper end of its 10%–20% target range and sees potential for gradual margin expansion. The company also strengthened funding with $1 billion in new capital and debt, while advancing initiatives involving cross-margining, stablecoin collateral, tokenized Treasuries, and further acquisitions.
Marex Group plc Ordinary Shares (NASDAQ:MRX) reported record second-quarter profit as revenue growth across its clearing, agency and execution, market-making and solutions businesses offset lower exchange volumes and declining market volatility from the first quarter. Second-quarter revenue rose 39% year over year to $696 million, while adjusted profit before tax increased 56% to $166 million. Adjusted profit before tax margin expanded to 23.8%, and adjusted basic earnings per share rose 59% to $1.72.
Reported profit after tax was $155 million, including $28 million of non-operating items. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat Group CEO Ian Lowitt said the quarter marked Marex's sixth record-profit quarter since its April 2024 initial public offering. He said first-half adjusted profit before tax reached $319 million, equal to the company's total annual profit in 2024. While volumes on Marex's key exchanges declined 17% from the first quarter, Lowitt said adjusted profit before tax still increased 9% sequentially.
He attributed the performance to a more diversified business mix, expanding client relationships and growth in higher-margin, infrastructure-intensive operations. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Clearing revenue rose 16% year over year to $161 million. Average clearing client balances increased to $19.1 billion in the second quarter, compared with $16 billion in the first-quarter average and $14 billion in the fourth quarter of 2025. Clearing net interest income increased 31% as higher balances more than offset lower interest rates.
Adjusted profit before tax in clearing increased 12%, with a 49% margin. Chief Financial Officer Rob Irvin said net commission income remained stable despite lower contracts cleared than in the year-earlier period, which had benefited from heightened activity following tariff announcements. → First Solar's Profit Engine Faces a New Policy Test in Washington Agency and execution revenue increased 35% to $351 million. Securities revenue climbed 68% to $283 million, led by growth in prime services, foreign exchange and equities.
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