Filing Flows › BGC Group (BGC) › Q1 2026
BGC Group (BGC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
BGC Group (BGC) reported revenue of $955M for the first quarter 2026 (Q1 2026), +44% from a year earlier and +26% from the quarter before. Operating margin was 12.1%, net earnings $84.1M (8.8% of revenue).
BGC Group, Q1 2026: revenue $955M (+44% year over year), operating margin 12.1%, net earnings $84.1M, operating cash flow $20.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $955M | +26% | +44% |
| Operating profit | $115M | +362% | +44% |
| Net earnings | $84.1M | +486% | +53% |
| Operating cash flow | $20.2M | -89% | 24× |
| Free cash flow | $15.4M | -91% | — |
What changed
Revenue was $955.5M in Q1 2026, up 44% year over year and up 26% from the previous quarter. Commissions was the largest line at 79% of revenue. Commissions added $258.2M year over year (up 52%), 89% of the total change. Fees from related parties declined 3%.
Operating profit was $115.4M, a 12.1% margin (unchanged year over year). Of the extra revenue versus Q1 2025, 12% reached operating profit, above the 12% margin then. Total costs grew 44% against revenue growth of 44%. The fastest-growing cost line was Sales & marketing (+50%). Net earnings were $84.1M, up 53% year over year. The effective tax rate was 27.7%.
Operating cash flow was $20.2M (up 2307% year over year), 24% of net earnings. Non-cash charges added back $25.8M of depreciation and amortization. Working capital and other items used $89.0M. Capital expenditures of $4.8M left free cash flow of $15.4M.
Questions
What was BGC Group's revenue in the first quarter 2026?
BGC Group (BGC) reported revenue of $955M for the first quarter 2026 (Q1 2026), +44% from a year earlier and +26% from the quarter before.
Was BGC Group profitable in the first quarter 2026?
Operating profit was $115M (12.1% of revenue) and net earnings $84.1M.
Source: BGC Group 10-Q on SEC EDGAR.