Exhibit 99.1

 

 

 

Virtu Announces Fourth Quarter and Full Year 2020 Results

 

Authorizes Additional $70 Million Share Repurchase

 

NEW YORK, NY, February 11, 2021 - Virtu Financial, Inc. (NASDAQ: VIRT), 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, today reported results for the fourth quarter ended and full year ended December 31, 2020.

 

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

 

Full Year 2020:

 

Net income of $1,120.9 million; Normalized Adjusted Net Income1 of $1,135.1 million
Basic earnings per share of $5.19 and diluted earnings per share of $5.16; Normalized Adjusted EPS1 of $5.76
Total revenues of $3,239.3 million; Trading income, net, of $2,493.2 million; Adjusted Net Trading Income1 of $2,271.4 million
Adjusted EBITDA1 of $1,648.0 million; Adjusted EBITDA Margin1 of 72.6%

 

The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on March 15, 2021 to shareholders of record as of March 1, 2021.

 

“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.”

 

Note 1: Non-GAAP financial measures. Please see "Non-GAAP Financial Measures and Other Items" for more information.

 


The following information was filed by Virtu Financial, Inc. (VIRT) on Thursday, February 11, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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