BGC Partners See Q4 Distributable Earnings Revenues At High End Of Prior Outlook

(RTTNews) - BGC Partners Expects Q4 to be Second Consecutive Period of Record Post-Tax Distributable Earnings

BGC Partners, Inc. (BGCP) said Thursday that it currently expects its fourth quarter revenues for distributable earnings to be around the high end of the range of its previously stated guidance and for fourth quarter pre-tax distributable earnings to be around the mid-point.

In its original fourth quarter outlook published on October 30, the company had expected distributable earnings revenues to increase by between about 10% and 18% and to be between about $475 million and $510 million. BGC had anticipated pre-tax distributable earnings to increase by between about 50% and 72% and to be in the range of $69 million to $79 million.

Analysts polled by Thomson Reuters currently expect the company to post revenue of $498.32 million for the fourth quarter.

BGC said Thursday that it still expects its pre- and post-tax earnings margins to significantly improve year over year, and for the fourth quarter to be the second period in a row of record post-tax distributable earnings for the company.