The beat and raised guidance support the growth narrative, but the deceleration from Q1's 44% revenue growth may limit upside. Watch for Q3 execution on FMX market share gains and the Fanatics partnership ramp.
Price Chart
Executive Summary
BGC Group reported Q2 2026 revenue of $845.5M (+7.8% YoY) and adjusted EPS of $0.35, beating consensus estimates of $812.8M and $0.34 respectively. Q3 guidance of $775-$835M revenue and $172-$190M pre-tax adjusted earnings implies continued growth over the prior year's $736.8M and $155.1M. The beat and raised guidance reinforce the company's growth trajectory, though the pace has moderated from Q1's 44% surge.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $845.5M, a second-quarter record, up 7.8% YoY
- Adjusted EPS of $0.35 beat consensus of $0.34 by ~2.9%
- GAAP EPS of $0.15 vs $0.11 a year ago (+36.4%)
- Q3 2026 guidance: revenue $775-$835M, pre-tax adjusted earnings $172-$190M
- FMX UST market share reached 42%, up from 35% a year ago
- Announced partnership with Fanatics to build a prediction market ecosystem
- Recorded a $24.5M UK tax litigation reserve in Q2
Financial Impact
Revenue beat consensus by ~$32.7M (+4.0%), adjusted EPS beat by $0.01 (+2.9%). Q3 guidance midpoint implies ~9% revenue growth over prior year.
Risk Factors
- UK tax litigation reserve of $24.5M could expand if unfavorable rulings continue
- Revenue growth decelerated sharply from Q1's 43.8% to 7.8%, raising questions about sustainability
- Fanatics partnership is early-stage and may not contribute materially in the near term
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-050814 |
| Document: bgcp-20260730.htm | 0001628280-26-050814 |
| Document: 0001628280-26-050814-index-headers.html | 0001628280-26-050814 |
| Document: 0001628280-26-050814-index.html | 0001628280-26-050814 |
| Document: 0001628280-26-050814.txt | 0001628280-26-050814 |
| 8-K Data (Synthetic) | 0001628280-26-050814 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 8, 2026 7w ago | Institutional Cluster | $10.29 $12.05 | ▲ +17.06% | ▲ +17.97% | $11.85 (+15.21%) |
Jul 30, 2026 9w ago | 8-K | $11.68 $12.10 | ▲ +3.60% | ▼ −0.37% | $11.85 (+1.50%) |
May 15, 2026 19w ago | 8-K | $11.37 $11.84 | ▲ +4.14% | ▲ +2.56% | $11.85 (+4.28%) |
May 7, 2026 21w ago | 8-K | $11.29 $10.15 | ▼ −10.10% | ▼ −13.23% | $11.85 (+5.00%) |
US Market Status
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