Every material Form 8-K BGC Group has filed with the SEC since October 31, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
BGC Group reported record third-quarter 2026 revenue of $832.6 million, up 13.0% from a year earlier, and GAAP net income for fully diluted shares of $68.7 million, up from $26.8 million. The company also gave fourth-quarter 2026 revenue guidance of $805 million to $865 million and said co-CEO JP Aubin will step down at year-end and become Vice Chairman.
Q3 2026 revenues $832.6 million, up 13.0%; GAAP diluted EPS $0.14 vs. $0.06 a year earlier
Q3 2026 GAAP income before income taxes $98.1 million vs. $33.5 million; post-tax Adjusted EPS $0.34 vs. $0.29
Q4 2026 guidance: revenues $805 million to $865 million; pre-tax Adjusted Earnings $178 million to $196 million
JP Aubin to step down as Co-Chief Executive Officer at year-end and become Vice Chairman; quarterly dividend of $0.02 per share payable December 9, 2026
BGC Group announced that JP Aubin will step down from his Co-Chief Executive Officer role, his CEO of EMEA role, his Co-Global Head of Financial Services Brokerage role, and his executive officer position, effective at the close of business on December 31, 2026, when he becomes Vice Chairman. John J. Abularrage and Sean A. Windeatt will continue as Co-CEOs overseeing all regions and businesses, and the company says its strategy is unchanged. The filing contains no financial figures, so the change's effect on results is not quantified.
Effective date: close of business on December 31, 2026, when Aubin becomes Vice Chairman and reports to the Co-CEOs
Aubin steps down as Co-CEO, CEO of EMEA, Co-Global Head of Financial Services Brokerage, and executive officer
John J. Abularrage and Sean A. Windeatt continue as Co-CEOs overseeing all regions and businesses
Employment agreement amendment with BGC Brokers LP, Succursale de Genève dated October 28, 2026; press release issued November 3, 2026
BGC Group reported second-quarter 2026 revenue of $845.5 million, up 7.8% from a year earlier, and GAAP pre-tax income of $98.9 million, up 31.4%. GAAP fully diluted EPS rose to $0.15 from $0.11, and post-tax Adjusted EPS rose 12.9% to $0.35, while the company also gave third-quarter 2026 revenue guidance of $775 million to $835 million.
Revenues $845.5 million vs $784.0 million; brokerage revenues up 7.2% to $771.4 million
GAAP fully diluted EPS $0.15 vs $0.11; post-tax Adjusted EPS $0.35 vs $0.31
GAAP non-compensation expenses rose 17.4%, including an increased reserve related to a UK tax matter
Q3 2026 guidance: revenues $775 million to $835 million; pre-tax Adjusted Earnings $172 million to $190 million
On May 15, 2026, BGC Group entered into a Third Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent, providing a $700 million unsecured revolving credit facility that can be increased to $900 million and extends maturity to May 15, 2030. The filing says $240 million of existing borrowings remain outstanding under the new facility, and the company plans to use borrowings for general corporate purposes.
Facility size: $700 million unsecured revolver, expandable to $900 million subject to conditions
Maturity extended to May 15, 2030
Initial margin of 1.875% over Term SOFR; Term SOFR-based rate would have been about 5.48% at May 15, 2026 close
Covenants on net worth and net excess capital raised; $240 million of borrowings carried over
BGC Group reported record first-quarter 2026 revenue of $955.5 million, up 43.8% from a year earlier, with GAAP fully diluted earnings per share of $0.17 versus $0.11. The company also gave second-quarter 2026 guidance of $785 million to $845 million in revenue and $178 million to $196 million in pre-tax Adjusted Earnings, which shareholders can compare with future results.
Total revenues $955.5 million, up 43.8%; ECS revenues rose 120.1% to $330.0 million, including the OTC acquisition
GAAP net income for fully diluted shares $80.7 million, up 52.7% from $52.8 million; GAAP fully diluted EPS $0.17 vs. $0.11
Second-quarter 2026 guidance: revenues $785 million to $845 million; pre-tax Adjusted Earnings $178 million to $196 million
Board declared a quarterly cash dividend of $0.02 per share, payable June 10, 2026 to holders of record May 27, 2026
BGC Group reported fourth-quarter 2025 revenue of $756.4 million, up 32.2% from a year earlier, and full-year revenue of $2.94 billion, up 30.0%. Post-tax Adjusted Earnings per share rose 24.0% to $0.31 in the quarter, while GAAP diluted EPS fell 40.0% to $0.03 after $54.8 million of cost reduction charges. The company guided first-quarter 2026 revenue to $860 million to $920 million.
Q4 2025 revenue $756.4 million, up 32.2%; excluding OTC, revenue rose 12.2% to $641.9 million
Q4 GAAP diluted EPS $0.03 vs $0.05 a year earlier; pre-tax income $25.0 million includes $54.8 million of cost reduction charges
FY2025 revenue $2.94 billion, up 30.0%; GAAP diluted EPS $0.31 vs $0.25
Q1 2026 guidance: revenues $860 million to $920 million; pre-tax Adjusted Earnings $202 million to $222 million; quarterly dividend $0.02 per share payable March 18, 2026
BGC Group reported third-quarter 2025 revenue of $737 million, up 31.3% from $561 million a year earlier, and GAAP net income for fully diluted shares of $26.8 million, up 88.6%. The company also gave fourth-quarter 2025 revenue guidance of $720 million to $770 million and pre-tax Adjusted Earnings guidance of $152.5 million to $167.5 million, and reapproved a share repurchase authorization of up to $400 million.
Q3 2025 GAAP fully diluted EPS was $0.06, compared with $0.03 in Q3 2024; post-tax Adjusted Earnings per share was $0.29, compared with $0.26.
Q3 2025 GAAP total expenses rose 28.8% to $705.6 million, driven in part by the acquisition of OTC.
Fourth-quarter 2025 guidance: revenues of $720 million to $770 million and pre-tax Adjusted Earnings of $152.5 million to $167.5 million.
Board declared a quarterly cash dividend of $0.02 per share, payable December 10, 2025, to holders of record as of November 26, 2025.
BGC Group disclosed that the divestiture of Howard W. Lutnick, its former chief executive and former chairman, closed on October 6, 2025, and that he no longer holds beneficial ownership of any company securities. Brandon G. Lutnick's trusts may now be deemed to beneficially own 23.4% of outstanding common stock, representing 75.1% of total voting power, which concentrates voting control within the Lutnick family. The filing does not describe any change to company operations.
Transactions closed October 6, 2025; Howard W. Lutnick now has zero beneficial ownership and filed an amended Schedule 13D.
Brandon G. Lutnick may be deemed to beneficially own 23.4% of outstanding common stock and 75.1% of total voting power.
CF Group Management trust purchase price was $200,000; CFLP bought 8,973,721 Class B shares at $9.2082 per share, less $0.032 per share for after-tax dividends.
Company repurchased 337,765 Class A shares from Howard W. Lutnick under its existing repurchase authorization.
BGC Group reported record second-quarter 2025 revenue of $784.0 million, up 42.3% from $550.8 million a year earlier, and GAAP net income for fully diluted shares of $55.1 million, or $0.11 per share, compared with $36.1 million, or $0.08, in the prior-year quarter. The company also gave third-quarter revenue guidance of $715 million to $765 million and pre-tax Adjusted Earnings guidance of $150 million to $165 million, and set its 2025 annual meeting for November 12, 2025.
Q2 2025 revenues of $784.0 million, up 42.3%; excluding OTC, revenues rose 20.9% to $665.7 million.
GAAP fully diluted EPS of $0.11 vs. $0.08; post-tax Adjusted Earnings per share of $0.31 vs. $0.23.
Q3 2025 guidance: revenues of $715 million to $765 million and pre-tax Adjusted Earnings of $150 million to $165 million.
Quarterly dividend of $0.02 per share, payable September 3, 2025, to holders of record August 20, 2025; stockholder proposal deadline for the November 12 annual meeting is August 10, 2025.
BGC agreed on May 16, 2025, to repurchase 16,452,850 Class A shares from Howard W. Lutnick, its former Chairman and CEO and now U.S. Secretary of Commerce, at $9.2082 per share, for an aggregate $151,501,133. The sales are tied to Lutnick's divestment under U.S. government ethics rules, and voting control of Cantor Fitzgerald's BGC stake will pass to trusts controlled by Brandon G. Lutnick once regulatory approvals are received.
16,452,850 Class A shares at $9.2082 per share, the 3-day VWAP for May 14 to 16, 2025; aggregate purchase price $151,501,133
16,115,102 shares close May 19, 2025; 337,748 retirement-account shares close after the Cantor Fitzgerald transactions
CFGM and CFLP together control approximately 66% of BGC's voting power; Brandon G. Lutnick will be deemed to hold voting or dispositive power after closing, with regulatory approvals expected in Q3 2025
BGC Group reported first-quarter 2025 results with record revenues of $664.2 million, up 14.8% from a year earlier, and GAAP fully diluted EPS of $0.11 versus $0.10. Adjusted EBITDA fell 4.1% to $199.8 million because the prior-year period included a $36.6 million mark-to-market gain, and the company said it completed its OTC Global Holdings acquisition on April 1, 2025.
Q1 2025 revenues $664.2 million vs. $578.6 million in Q1 2024; GAAP net income for fully diluted shares $52.8 million vs. $46.4 million
Post-tax Adjusted Earnings per share $0.29 vs. $0.25, up 16.0%
Q2 2025 guidance: revenues $715 million to $765 million; pre-tax Adjusted Earnings $156 million to $171 million
Quarterly dividend of $0.02 per share declared May 6, 2025, payable June 10, 2025 to holders of record May 27, 2025
BGC Group closed a $700.0 million offering of 6.150% senior notes due 2030 on April 2, 2025, netting about $692.8 million after discounts, commissions and estimated expenses. The company plans to use the proceeds to repurchase, redeem or repay its 4.375% senior notes due 2025, including $288.2 million held by BGC Group and $11.8 million of notes issued by its subsidiary BGC Partners. The filing shows the company refinancing debt with new longer-dated debt, adding obligations that run to 2030.
Offering: $700.0 million of 6.150% senior notes due April 2, 2030; net proceeds of about $692.8 million
Use of proceeds: repurchase, redeem or repay $288.2 million of BGC 4.375% notes due 2025 and $11.8 million of BGC Partners 4.375% notes due 2025
Interest payable semiannually on April 2 and October 2, starting October 2, 2025
Notes are unsecured, contain no financial covenants, and holders may require repurchase at 101% of principal upon a Change of Control Triggering Event
BGC Group's Chairman and CEO, Howard Lutnick, stepped down effective February 18, 2025, after the U.S. Senate confirmed him as the 41st Secretary of Commerce. The company said the departure was not the result of any dispute, and named Stephen Merkel as Chairman and three executives as Co-Chief Executive Officers, so the top leadership now differs from the prior arrangement.
Howard Lutnick stepped down as Chairman and CEO effective February 18, 2025; the filing says the departure was not the result of any dispute or disagreement.
Stephen Merkel, Executive Vice President and General Counsel since 2001, was appointed to the Board and as Chairman effective February 18, 2025.
John Abularrage, JP Aubin and Sean Windeatt were appointed Co-Chief Executive Officers effective February 18, 2025.
Brandon Lutnick, age 27, was appointed to the Board effective February 18, 2025 and will receive no compensation for Board service.
BGC Group reported fourth-quarter 2024 revenues of $572.3 million, up 10.8% from a year earlier, and full-year revenues of $2.26 billion, up 11.7%. Fourth-quarter GAAP pre-tax income fell 14.8% to $27.2 million, while GAAP fully diluted earnings per share rose to $0.05 from $0.04 and full-year GAAP EPS rose to $0.25 from $0.07. The company also guided first-quarter 2025 revenues to $610 million to $660 million and declared a $0.02 quarterly dividend.
Q4 2024 revenues were $572.3 million, up 10.8% from $516.8 million in Q4 2023; full-year 2024 revenues were $2.26 billion, up 11.7%.
Q4 2024 GAAP pre-tax income was $27.2 million, down 14.8%; GAAP fully diluted EPS was $0.05 versus $0.04.
Full-year 2024 GAAP fully diluted EPS was $0.25 versus $0.07 in 2023; post-tax Adjusted Earnings per share was $0.99 versus $0.82.
Q1 2025 guidance: revenues of $610 million to $660 million and pre-tax Adjusted Earnings of $145 million to $161 million; quarterly dividend of $0.02 per share payable March 20, 2025.
BGC Group entered into a First Amendment to its Second Amended and Restated Credit Agreement, with lenders providing an increase to the aggregate revolving commitments, bringing the total to $700 million. The company expects to use borrowings for general corporate purposes, and the filing states the borrowing rates and financial covenants were not changed.
Total aggregate revolving commitments increased to $700 million under the First Amendment dated December 6, 2024
Existing credit agreement is dated April 26, 2024, with Bank of America, N.A. as Administrative Agent
Borrowing rates and financial covenants were not changed by the amendment
Funds are expected to be used for general corporate purposes
BGC Group said Chairman and CEO Howard W. Lutnick has been nominated by President Donald J. Trump as U.S. Secretary of Commerce, and that he intends to step down from his BGC positions upon U.S. Senate confirmation. Lutnick said he expects to recommend that John Abularrage, Jean-Pierre Aubin, and Sean Windeatt be named Co-CEOs of BGC effective upon his confirmation, and BGC expects no changes to its existing corporate structure.
Lutnick nominated as the 41st U.S. Secretary of Commerce; the company announcement is dated November 21, 2024.
He intends to step down from BGC, Cantor, and Newmark upon Senate confirmation and divest those interests.
He expects to recommend John Abularrage, Jean-Pierre Aubin, and Sean Windeatt as Co-CEOs of BGC.
BGC expects no changes to its corporate structure and will disclose further details at a later date.
BGC Group reported third-quarter 2024 revenues of $561.1 million, up 16.2% from a year earlier, with growth across asset classes and regions. GAAP income before income taxes fell 17.4% to $19.7 million and GAAP net income for fully diluted shares fell 11.2% to $14.2 million, while post-tax Adjusted Earnings per share rose 36.8% to $0.26. The company also guided fourth-quarter 2024 revenues to $545 million to $595 million and declared a quarterly dividend of $0.02 per share.
Q3 2024 revenues were $561.1 million, up 16.2% from $482.7 million in Q3 2023
GAAP income before income taxes was $19.7 million, down 17.4%; GAAP fully diluted EPS was $0.03, unchanged from a year earlier
Post-tax Adjusted Earnings per share was $0.26, up 36.8%
Q4 2024 revenue guidance is $545 million to $595 million; dividend of $0.02 per share is payable December 4, 2024 to holders of record November 21, 2024
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