Wall Street expects a year-over-year increase in earnings on higher revenues when Virtu Financial (VIRT) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 18, 2024, might help the stock move higher if these key numbers are better than exp ...

公司业务概况 - 公司利用先进技术为全球市场提供流动性,并为客户提供创新透明的交易解决方案[84] - 公司拥有多元化的产品组合,包括执行、流动性来源、分析和经纪中立的多交易商平台等[84] - 公司的集成多资产分析平台提供广泛的交易前后服务、数据产品和合规工具[84] - 公司的技术和运营效率是其业务的核心,专注于技术是其成功的关键因素[84] - 公司认为,技术驱动的做市商和执行服务提供商在维护和提高全球资本市场的整体健康和效率方面发挥着重要作用[84] - 公司的市场制造业务利用先进技术在全球范围内提供有竞争力和深厚的流动性[85] - 公司的执行服务业务通过算法交易、机构销售交易员和匹配客户条件单等方式为客户提供服务[86] 公司融资情况 - 公司于2022年1月13日与银行签订新的信贷协议,为公司提供18亿美元的有抵押优先定期贷款和2.5亿美元的有抵押优先循环信贷额度[88] - 公司于2022年6月2日增加了2600万股A类普通股的发行数量[89] - 公司于2020年4月23日和2022年4月22日分别增加了500万股和500万股A类普通股的发行数量[89] - 公司于IPO时授予了922.8万份非限制性股票期权[89] - 截至2024年3月31日,已有167.375万份期权被行权,164.375万份期权被放弃[89] 公司收入构成 - 公司的市场做市业务收入占总收入的63%和66%[93] - 公司的交易收入净额占总收入的63%和66%[93] - 公司的佣金净收入和技术服务收入占总收入的18%和20%[93] - 公司的利息和股息收入占总收入的16%和13%[93] - 公司的其他收入占总收入的2%和1%[93,94,95] 公司费用构成 - 公司的经纪、交易所、结算费用和订单流支付净额占总营业费用的28%和30%[96] 税收情况 - 公司受到美国联邦、州和地方所得税的影响,非美国业务也受到外国所得税的影响[98] - 公司预计将从实现的税收优惠中获得的现金税收节省来支付税收协议下的未来付款[118] 非公认会计准则指标 - 公司使用多种非公认会计准则(Non-GAAP)财务指标来评估业务表现和战略决策[99,100,101,102,103] - 公司的非公认会计准则财务指标包括调整后净交易收入、EBITDA、调整后EBITDA、标准化调整后净收入、标准化调整后每股收益等[99,100,101,102,103] - 公司使用这些非公认会计准则指标是因为它们能更好地反映公司的经营业绩,但这些指标也存在局限性,不能完全取代公认会计准则下的财务指标[103,104,105] 财务数据分析 - 总收入增长3.6%至6.43亿美元[109] - 市场制造业务收入增长4.4%至5.21亿美元[109] - 利息和股息收入增长28.9%至1.06亿美元[109] - 佣金和技术服务收入下降2.3%至1.19亿美元[109] - 其他收入大幅增长142.5%至1.01亿美元[109] - 调整后净交易收入下降1.7%至3.67亿美元[110] - 营业费用增加3.6%至5.03亿美元[110] - 利息和股息费用增加29.1%至1.26亿美元[110] - 所得税费用增加15.8%至2850万美元[112] 监管合规 - 公司的主要美国子公司Virtu Americas LLC受到SEC和FINRA的监管,需要满足监管资本要求[119][120] - 公司维持各种经纪商设施和短期信贷设施作为日常交易业务的一部分[121] 风险管理 - 公司使用各种自有风险管理工具持续管理市场风险,如果交易策略产生的收益超出预设限额,系统会自动冻结该策略并通知风险管理人员[144] - 公司持有的交易性金融工具主要为流动性强的上市股票、债券和期货等,可在短时间内以低成本平仓[144] - 公司利用利率互换和外汇远期合约等衍生工具管理利率风险和汇率风险[145] - 公司约18.8%和15.8%的总收入分别来自于非美元货币,美元升值10%将导致公司收入分别减少1210万美元和980万美元[146]

Virtu Financial, Inc. (NASDAQ:VIRT) Q1 2024 Earnings Conference Call April 24, 2024 7:30 AM ET Company Participants Andrew Smith - Head, Investor Relations Douglas Cifu - Chief Executive Officer Joseph Molluso - Co-President & Co-Chief Operating Officer Sean Galvin - Chief Financial Officer Conference Call Participants Patrick Moley - Piper Sandler Kenneth Worthington - JPMorgan Securities Chris Allen - Citi Craig Siegenthaler - Bank of America Dan Fannon - Jefferies Michael Cyprys - Morgan Stanley Operator ...

Presenter Name Event name xx Month 201x © 201X Virtu Financial. All rights reserved. Not to be reproduced or retransmitted without permission. Compliance #XXXX-XXXX © 2024 Virtu Financial. All rights reserved. VIRTU FINANCIAL Presentation Title in Title Case Presentation subtitle in sentence case First Quarter 2024 Earnings Supplement Performance Highlights Normalized Adj. EPS1 Adj. NTI1 Adj. NTI/day1,2 $367M $6.0M $0.76 Debt to LTM Adj. EBITDA1 Adj. EBITDA Margin1,3 Adj. EBITDA1 $203M 55% 3.1x $4.5M $4.7M ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37352 Virtu Financial, Inc. (Exact name of registrant as specified in its charter) Delaware 32-0420206 (State or other jurisdiction ...

Presenter Name Event name xx Month 201x © 201X Virtu Financial. All rights reserved. Not to be reproduced or retransmitted without permission. Compliance #XXXX-XXXX © 2023 Virtu Financial. All rights reserved. Presentation Title in Title Case Presentation subtitle in sentence case Fourth Quarter 2023 Earnings Supplement Performance Highlights | --- | --- | --- | --- | --- | --- | |-------------|-------|-------------------------------|------------|-------|----------------------------| | | | | | | | | | | | | ...

Virtu Financial, Inc. (NASDAQ:VIRT) Q4 2023 Earnings Conference Call January 25, 2024 7:30 AM ET Company Participants Andrew Smith – Director, Senior Vice President, Head-Investor Relations and Corporate Strategy Douglas Cifu – Chief Executive Officer Joseph Molluso – Co-President and Co-Chief Operating Officer Cindy Lee – Deputy Chief Financial Officer Conference Call Participants Ken Worthington – JPMorgan Patrick Moley – Piper Sandler Chris Allen – Citi Dan Fannon – Jefferies Alex Blostein – Goldman Sach ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37352 Virtu Financial, Inc. (Exact name of registrant as specified in its charter) Delaware 32-0420206 (State or other ju ...

Virtu Financial, Inc. (NASDAQ:VIRT) Q3 2023 Earnings Conference Call November 2, 2023 8:00 AM ET Company Participants Andrew Smith - Investor Relations Douglas Cifu - Chief Executive Officer Joseph Molluso - Co-President and Co-Chief Operating Officer Sean Galvin - Chief Financial Officer Conference Call Participants Ken Worthington - JPMorgan Chris Allen - Citi Dan Fannon - Jefferies Alex Blostein - Goldman Sachs Michael Cyprys - Morgan Stanley Operator Hello and welcome to the Virtu Financial 2023 Third Q ...

Presenter Name Event name xx Month 201x © 201X Virtu Financial. All rights reserved. Not to be reproduced or retransmitted without permission. Compliance #XXXX-XXXX © 2023 Virtu Financial. All rights reserved. VIRTU FINANCIAL Presentation Title in Title Case Presentation subtitle in sentence case Third Quarter 2023 Earnings Supplement Performance Highlights | --- | --- | --- | --- | --- | |------------------------|-------|-------------------------------|-------|--------------------------------| | Adj. NTI 1 ...