Virtu Financial (VIRT) Prelim. Q4 EPS Tops Consensus

Virtu Financial, Inc. (NASDAQ: VIRT) (“Virtu” or the “Company”), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets, in connection with assessment of opportunities to optimize the pricing of its existing term loan facility, today announced preliminary estimates of its results of operations for the quarter ended December 31, 2019 and the month ended January 31, 2020.

Actual results for the fourth quarter 2019 are scheduled to be reported on February 11, 2020.

On a preliminary estimated basis:

• Virtu expects its results of operations for the quarter ended December 31, 2019 to reflect:

• Diluted loss per share of $0.17 to $0.18; Normalized Adjusted EPS* of $0.26 to $0.27
• Trading income, net between $227 and $229 million; Adjusted Net Trading Income* between $256 and $258 million
• Net loss between $29 and 31 million; Adjusted EBITDA* between $113 and $115 million
• Realized synergies from the ITG acquisition between $135 and $138 million for 2019; expect to achieve the top of the published range for 2020

(*Consensus sees Q4 EPS of $0.20)

• For the month ended January 31, 2020 Trading income, net between $90 and $94 million; Adjusted Net Trading Income* between $100 and $105 million

* Non-GAAP financial measures. Please see “Non-GAAP Financial Measures and Other Items” for more information.

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