Virtu Financial (VIRT) Tops Q4 EPS by 36c, Revenues Beat

February 11, 2021 7:07 AM EST

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Virtu Financial (NASDAQ: VIRT) reported Q4 EPS of $1.18, $0.36 better than the analyst estimate of $0.82. Revenue for the quarter came in at $676.7 million versus the consensus estimate of $368.78 million.

Fourth Quarter 2020:

  • Net income of $197.7 million; Normalized Adjusted Net Income¹ of $234.0 million
  • Basic earnings per share of $0.89 and diluted earnings per share of $0.88; Normalized Adjusted EPS¹ of $1.18
  • Total revenues of $676.7 million; Trading income, net, of $505.5 million; Adjusted Net Trading Income¹ of $455.9 million
  • Adjusted EBITDA¹ of $343.9 million; Adjusted EBITDA Margin¹ of 75.4%
  • Additional $70 million share repurchase authorized, bringing total to $170 million authorized; $50 million executed to date

“Capping off a record breaking 2020, we delivered exceptional performance globally in the fourth quarter. I’m extremely proud of the team for their dedication in executing amidst a challenging global situation,” said Douglas Cifu, CEO of Virtu Financial. “Our market making segment played a critical role in the markets by seamlessly executing trades, and ultimately delivering $1.3 billion of price improvement to individual investors. Our Execution Services segment had a record quarter, delivering outstanding service and further enhancements to our best-in-class products that drive value across the entire trade lifecycle and assist our clients in navigating our ever changing market landscape.”

Mr. Cifu continued: “Turning the page on 2020, we enter our next chapter of growth in 2021 stronger than ever with a clear trajectory that includes an optimized expense base and reduced levels of debt, thanks to the meaningful progress we’ve made in integrating our acquisitions and returning excess cash flow to shareholders.”

For earnings history and earnings-related data on Virtu Financial (VIRT) click here.



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