Savannah launches nation's first waterjet hybrid ferries with public celebration
You've probably taken a ferry ride in Savannah before – but not like the one that Savannah now offers. For the first time in U.S. History, waterjet hybrid ferries are entering public service – and CAT is launching them right here in Savannah.
The Juliette Gordon Low II and Susie King Taylor II are the newest additions to the Savannah Belles Ferry Fleet – and they're making history. These are the first in the country to feature waterjet hybrid technology, which combines diesel-powered generators with large lithium-ion batteries for quiet and efficient travel.
The boats have been running since January of this year, but CAT was waiting to celebrate until they knew all the kinks were fixed and were running smoothly. They told WSAV that today is now the day to officially celebrate this launch.
After nearly five years bringing this project to life, each ferry costs around $5.5 million. The ferries improve passenger comfort while reducing fuel use and emissions. The launch also marks the completion of the newly restored seawall… a key piece of riverfront infrastructure. CAT officials hope Savannah's example sets a new standard for cities across the country.
'These vessels were a long time in the making, many years from concept to design, to build and to gather the funding to get these vessels. So, we're just really excited to be able to introduce it to all of Savannah,' said John Allen, the Director of Marine Services for Chatham Area Transit.
This afternoon, local leaders and the public are welcome to celebrate the launch of the new ferries. The event begins with a ribbon-cutting at City Hall Landing, followed by a ferry cruise to the Savannah Convention Center.
Public celebration today, 6 p.m. to 8 p.m. City Hall Landing and Trade Center Landing
Nation's 1st Waterjet Hybrid Ferries
$5.5M Each, 4–5 Years in the Making
Quieter, Cleaner, More Efficient Rides
This marks a major step forward in green public transit. The ferry fleet is now growing to 6 boats, just in time for the new convention center.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 hours ago
- Yahoo
Caterpillar (CAT) Rises Higher Than Market: Key Facts
Caterpillar (CAT) closed the most recent trading day at $417.19, moving +1.74% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.06%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq depreciated by 0.39%. Shares of the construction equipment company have appreciated by 11.97% over the course of the past month, outperforming the Industrial Products sector's gain of 6.94%, and the S&P 500's gain of 5.88%. The upcoming earnings release of Caterpillar will be of great interest to investors. It is anticipated that the company will report an EPS of $4.88, marking a 18.53% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $16.36 billion, indicating a 2% decrease compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates project earnings of $18.79 per share and a revenue of $63.23 billion, demonstrating changes of -14.2% and -2.44%, respectively, from the preceding year. Investors should also take note of any recent adjustments to analyst estimates for Caterpillar. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.48% rise in the Zacks Consensus EPS estimate. At present, Caterpillar boasts a Zacks Rank of #3 (Hold). Investors should also note Caterpillar's current valuation metrics, including its Forward P/E ratio of 21.83. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 21.83. Meanwhile, CAT's PEG ratio is currently 2.72. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Manufacturing - Construction and Mining was holding an average PEG ratio of 5.06 at yesterday's closing price. The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 40% echelons of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Caterpillar Inc. (CAT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time Business News
a day ago
- Time Business News
How to Choose the Right MBA Program: A Complete Guide for Indian Students
Pursuing an MBA in India has become increasingly competitive and strategic, with thousands of students vying for seats at premier business schools. With top MBA colleges in India offering various programs and specializations, making the right choice can seem overwhelming. This comprehensive guide will help you navigate the complex landscape of MBA admissions and select a program that aligns with your career goals, financial situation, and personal aspirations. The MBA landscape in India has evolved significantly over the past decade, with both traditional powerhouses and emerging business schools raising their standards and expanding their offerings. Every year, over 200,000 students take the CAT exam, while the total number of seats across all the IIMs is approximately 5,500 as of 2024. This intense competition makes strategic planning and informed decision-making crucial for success. India's premier business schools form the backbone of the country's MBA education system. Some of the top-ranked MBA colleges in India include IIM Ahmedabad, IIM Bangalore, IIM Kozhikode, IIM Calcutta, DMS IIT Delhi, IIM Lucknow, SIIB Pune, IIM Indore, IIM Raipur, IIM Rohtak, among others. These institutions consistently rank at the top of national rankings and offer exceptional placement opportunities, extensive alumni networks, and world-class faculty. The Indian Institutes of Management (IIMs) represent the gold standard of MBA education in India. These government-funded institutions have produced some of the country's most successful business leaders and maintain strong relationships with multinational corporations. However, admission to IIMs is extremely competitive, requiring exceptional performance in entrance examinations and subsequent selection processes. Beyond the IIMs, several other prestigious institutions offer excellent MBA programs. FMS Delhi, XLRI Jamshedpur are among the top-ranked best B-schools in India. These top MBA colleges in India are known for their excellent academics, strong placement records, and industry connections. These schools often provide more affordable alternatives to private business schools while maintaining high academic standards. MBA programs in India come in various formats to accommodate different student needs and career stages. Full-time two-year programs remain the most popular choice, offering comprehensive business education and extensive networking opportunities. These programs typically require students to relocate and commit to full-time study, making them ideal for career changers and recent graduates. Executive MBA programs cater to working professionals with significant work experience. These programs are designed for senior managers and executives who want to advance their careers without taking extended breaks from work. Classes are typically scheduled on weekends or in intensive modules, allowing participants to balance their professional and academic commitments. Part-time and evening MBA programs provide flexibility for working professionals who cannot commit to full-time study. While these programs may take longer to complete, they allow students to apply their learning immediately in their current roles and maintain their income during their studies. Distance learning and online MBA programs have gained credibility, particularly following the pandemic. These programs offer the most flexibility in terms of scheduling and location, though they may lack some of the networking opportunities and campus experiences associated with traditional programs. MBA Entrance Exams are a gateway to MBA Admissions including CAT, XAT, CMAT, SNAP, IBSAT, MAT Exam, MAH MBA CET and other MBA Entrance Exams in India. Understanding the specific requirements and format of each exam is crucial for developing an effective preparation strategy. The Common Admission Test (CAT) is the most prestigious MBA entrance exam in India, conducted annually for admission to IIMs and other top business schools. CAT tests quantitative ability, verbal ability and reading comprehension, and data interpretation and logical reasoning. The exam is computer-based and highly competitive, requiring months of dedicated preparation. Xavier Aptitude Test (XAT) is conducted by XLRI Jamshedpur and is accepted by over 800 MBA colleges across India. XAT score is accepted by over 800 MBA colleges in India. The exam includes sections on verbal and logical ability, decision making, quantitative ability and data interpretation, and general knowledge. Graduate Management Admission Test (GMAT) is an international exam accepted by many Indian business schools, particularly those with international collaborations or accreditations. GMAT scores are valid for five years and can be used for applications to both Indian and international programs. Other important exams include SNAP (Symbiosis National Aptitude Test), NMAT (NMIMS Management Aptitude Test), CMAT (Common Management Admission Test), and various state-level entrance exams like MAH MBA CET for Maharashtra and TANCET for Tamil Nadu. One can appear for all these entrance exam, if they have a graduation degree with a minimum of 50 percent marks. Any Bachelor's Degree with 50% (45% for SC/ST/PwD) marks from a recognized University. Most business schools require candidates to have completed their undergraduate degree from a recognized university with minimum specified marks. Final-year students can apply for CAT, XAT, NMAT, SNAP, and CMAT provided they complete their degree before the program commencement. This allows students to appear for entrance exams in their final year of undergraduate studies, providing more opportunities for admission. Work experience requirements vary significantly among institutions. While some schools prefer candidates with professional experience, others accept fresh graduates. Candidates with work experience are preferred (Not mandatory). There is no age limit for most programs, though some executive programs may have minimum experience requirements. When evaluating MBA programs, academic reputation should be a primary consideration. Look at various national and international rankings, but understand that different ranking methodologies may produce different results. Business Today Ranking 2024 released on Oct 13: IIM Calcutta is ranked No 1 B-school in India, demonstrating how rankings can vary between different evaluation criteria. Consider factors such as faculty qualifications, research output, case study methodology, and curriculum innovation. Schools with strong academic reputations typically attract better faculty, provide superior learning environments, and command respect from employers and industry leaders. International accreditations from bodies like AACSB, EQUIS, and AMBA indicate that a school meets global standards for business education. These accreditations are particularly important if you plan to work internationally or pursue further education abroad. Placement statistics provide valuable insights into a program's ability to help students achieve their career goals. Examine not just average salary figures, but also placement percentages, the diversity of recruiting companies, and the types of roles offered to graduates. Look beyond headline placement numbers to understand the distribution of outcomes. Some schools may have high average salaries driven by a few exceptional placements, while the majority of students may receive more modest offers. Understanding the median salary and the 25th-75th percentile range provides a more realistic picture of likely outcomes. Industry diversity in placements is crucial, especially if you're considering a career change. Schools with strong relationships across multiple sectors provide more flexibility and options for students with varied interests and backgrounds. Geographic placement patterns are also important. Some schools may have strong regional networks but limited national reach, which could impact your career mobility and opportunities. Out of 5339 top MBA colleges in India, 3216 offer a general MBA course, followed by the MBA in Finance, which 2167 colleges in India offer. The availability of specializations should align with your career goals and interests. Consider whether you want a general management education or prefer to focus on specific functional areas. Modern MBA curricula increasingly emphasize emerging fields such as digital marketing, data analytics, sustainability, and entrepreneurship. Evaluate whether the program's curriculum is current and relevant to contemporary business challenges. Experiential learning opportunities such as internships, consulting projects, case competitions, and international exchanges add significant value to MBA education. These experiences provide practical application of classroom learning and valuable networking opportunities. Faculty expertise and teaching methodology are crucial considerations. Look for programs with faculty who combine academic credentials with industry experience, and that employ diverse teaching methods including case studies, simulations, and real-world projects. MBA education represents a significant financial investment, and careful financial planning is essential. Consider not just tuition fees, but also living expenses, opportunity costs, and potential student loan obligations. Create a comprehensive budget that includes all costs associated with your MBA program. Return on investment calculations should factor in your pre-MBA salary, expected post-MBA compensation, and the time required to break even on your investment. Consider different scenarios and be realistic about salary expectations based on the school's placement data. Scholarship opportunities and financial aid can significantly reduce the cost of MBA education. Many schools offer merit-based scholarships, need-based aid, and special programs for underrepresented groups. Research these opportunities early and understand the application requirements. Consider the impact of educational loans on your post-MBA financial situation. Calculate monthly payment obligations and ensure they align with your expected post-graduation income and lifestyle goals. The location of your MBA program affects not just your quality of life during the program, but also networking opportunities and career prospects. Business schools in major metropolitan areas typically offer better access to industry, internship opportunities, and networking events. Campus infrastructure and facilities contribute significantly to the learning experience. Consider factors such as library resources, technology infrastructure, recreational facilities, and housing options. Modern business schools should provide state-of-the-art facilities that support collaborative learning and professional development. Geographic preferences for post-graduation employment should also influence your choice. If you plan to work in a specific region or city, attending a nearby business school may provide better networking opportunities and regional industry connections. Develop a balanced application strategy that includes reach schools, target schools, and safety schools based on your profile and entrance exam scores. Apply to multiple programs to maximize your chances of admission and provide options for comparison. Prepare compelling application essays that clearly articulate your career goals, motivation for pursuing an MBA, and how specific programs align with your objectives. Tailor each application to highlight relevant experiences and demonstrate genuine interest in the school. Strong letters of recommendation from supervisors, colleagues, or mentors can significantly strengthen your application. Choose recommenders who know your work well and can provide specific examples of your leadership potential and professional achievements. Interview preparation is crucial for top business schools. Practice articulating your career goals, leadership experiences, and reasons for choosing specific programs. Prepare thoughtful questions about the school and demonstrate genuine interest and engagement. Create a decision matrix that weights different factors according to your priorities. Consider factors such as academic reputation, career outcomes, program culture, location preferences, and financial implications. This systematic approach helps ensure you make decisions based on objective criteria rather than emotions or prestige alone. Visit campuses when possible to get a feel for the program culture and learning environment. Attend information sessions, speak with current students and alumni, and observe classes if permitted. These firsthand experiences provide valuable insights that cannot be gained from websites or brochures alone. Connect with current students and recent graduates through social media, alumni networks, or formal mentorship programs. These conversations provide insider perspectives on program strengths and weaknesses, career outcomes, and overall satisfaction with the MBA experience. Choosing the right MBA program requires careful research, honest self-assessment, and strategic planning. The Indian MBA landscape offers numerous excellent options, from prestigious IIMs to innovative private institutions and specialized programs. Success depends not just on gaining admission to a prestigious program, but on finding the right fit for your individual circumstances, career goals, and personal preferences. Start your research early, prepare thoroughly for entrance examinations, and develop a comprehensive application strategy. Consider multiple factors beyond just rankings and prestige, including program culture, career outcomes, financial implications, and personal preferences. Remember that the best MBA program is the one that helps you achieve your specific career objectives while providing a rewarding educational experience. The investment in MBA education can be transformative for your career, but it requires careful planning and execution. With thorough research and strategic decision-making, you can identify programs that offer the best combination of academic excellence, career opportunities, and personal fulfillment. Take advantage of the numerous resources available, including current students, alumni networks, and career counselors, to make the most informed decision possible about this important milestone in your professional development. TIME BUSINESS NEWS
Yahoo
6 days ago
- Yahoo
Interactive Brokers Group Announces 2Q2025 Results
GAAP Diluted EPS of $0.51, Adjusted1 EPS of $0.51 GAAP Net Revenues of $1,480 Million, Adjusted Net Revenues of $1,480 Million GREENWICH, Conn., July 17, 2025--(BUSINESS WIRE)--Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated global electronic broker, announced results for the quarter ended June 30, 2025. Reported and adjusted diluted earnings per share were both $0.51 for the current quarter. For the year-ago quarter, reported diluted earnings per share2 were $0.41 and $0.44 as adjusted. Reported and adjusted net revenues were both $1,480 million for the current quarter. For the year-ago quarter, reported net revenues were $1,230 million and $1,290 million as adjusted. Reported and adjusted income before income taxes were both $1,104 million for the current quarter. For the year-ago quarter, reported income before income taxes was $880 million and $940 million as adjusted. Financial Highlights (All comparisons are to the year-ago quarter.) Commission revenue increased 27% to 516 million on higher customer trading volumes. Customer trading volume in stocks, options and futures increased 31%, 24% and 18%, respectively. Net interest income increased 9% to $860 million on higher average customer credit balances and securities lending activity. Net interest income includes an approximately $26 million one-time credit related to recovery of taxes withheld at source. Other fees and services decreased 9% to $62 million, led by a decrease of $7 million in risk exposure fees, which was partially offset by a $2 million increase in FDIC sweep fees. Execution, clearing and distribution fees increased 1% to $116 million, driven by a new FINRA Consolidated Audit Trail ("CAT") fee initiated during the fourth quarter of 2024 and higher customer trading volumes in stocks, options and futures, mostly offset by greater capture of liquidity rebates from certain exchanges. General and administrative expenses increased 17% to $61 million, driven primarily by an increase of $8 million in advertising expenses. Pretax profit margin for the current quarter was 75% both as reported and as adjusted. For the year-ago quarter, pretax margin was 72% as reported and 73% as adjusted. Total equity of $18.5 billion. The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.08 per share. This dividend is payable on September 12, 2025, to shareholders of record as of September 1, 2025. Business Highlights (All comparisons are to the year-ago quarter.) Customer accounts increased 32% to 3.87 million. Customer equity increased 34% to $664.6 billion. Total DARTs3 increased 49% to 3.55 million. Customer credits increased 34% to $143.7 billion. Customer margin loans increased 18% to $65.1 billion. Other Items Other income increased $78 million to a gain of $42 million. This gain mainly comprised (1) the non-recurrence of a loss of approximately $48 million on positions taken over as a customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024; (2) $17 million related to our principal trading and investing activities; and (3) $15 million related to our currency diversification strategy. In connection with our currency diversification strategy, we base our net worth in GLOBALs, a basket of 10 major currencies in which we hold our equity. In this quarter, our currency diversification strategy increased our comprehensive earnings by $301 million, as the U.S. dollar value of the GLOBAL increased by approximately 1.62%. The effects of the currency diversification strategy are reported as components of (1) Other Income (loss of $5 million) and (2) Other Comprehensive Income (gain of $306 million). Conference Call Information: Interactive Brokers Group, Inc. will hold a conference call with investors today, July 17, 2025, at 4:30 p.m. ET to discuss its quarterly results. Members of the public who would like to listen to the conference call should register at to obtain the dial-in details. The number should be dialed approximately ten minutes prior to the start of the conference call. The conference call will also be accessible simultaneously, and through replays, as an audio webcast through the Investor Relations section of the Interactive Brokers web site, About Interactive Brokers Group, Inc.: Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 160 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, and many others. Cautionary Note Regarding Forward-Looking Statements: The foregoing information contains certain forward-looking statements that reflect the Company's current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the Company's actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the Company's financial results may be found in the Company's filings with the Securities and Exchange Commission. _______________________________________________ 1 See the reconciliation of non-GAAP financial measures starting on page 10.2 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025.3 Daily average revenue trades (DARTs) are based on customer orders. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions, except share and per share data) Revenues: Commissions $ 516 $ 406 $ 1,030 $ 785 Other fees and services 62 68 140 127 Other income (loss) 42 (36 ) 107 (18 ) Total non-interest income 620 438 1,277 894 Interest income 1,891 1,828 3,609 3,588 Interest expense (1,031 ) (1,036 ) (1,979 ) (2,049 ) Total net interest income 860 792 1,630 1,539 Total net revenues 1,480 1,230 2,907 2,433 Non-interest expenses: Execution, clearing and distribution fees 116 115 237 216 Employee compensation and benefits 163 146 317 291 Occupancy, depreciation and amortization 24 25 48 51 Communications 11 10 21 20 General and administrative 61 52 123 102 Customer bad debt 1 2 2 7 Total non-interest expenses 376 350 748 687 Income before income taxes 1,104 880 2,159 1,746 Income tax expense 98 71 189 142 Net income 1,006 809 1,970 1,604 Net income attributable to noncontrolling interests 782 630 1,533 1,250 Net income available for common stockholders $ 224 $ 179 $ 437 $ 354 Earnings per share1: Basic $ 0.51 $ 0.42 $ 1.00 $ 0.82 Diluted $ 0.51 $ 0.41 $ 0.99 $ 0.82 Weighted average common shares outstanding1: Basic 438,457,863 430,876,080 437,083,330 429,579,700 Diluted 441,439,924 434,507,344 440,459,081 433,552,552 _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions, except share and per share data) Comprehensive income: Net income available for common stockholders $ 224 $ 179 $ 437 $ 354 Other comprehensive income: Cumulative translation adjustment, before income taxes 79 (2 ) 107 (28 ) Income taxes related to items of other comprehensive income - - - - Other comprehensive income (loss), net of tax 79 (2 ) 107 (28 ) Comprehensive income available for common stockholders $ 303 $ 177 $ 544 $ 326 Comprehensive earnings per share1: Basic $ 0.69 $ 0.41 $ 1.24 $ 0.76 Diluted $ 0.69 $ 0.41 $ 1.23 $ 0.75 Weighted average common shares outstanding1: Basic 438,457,863 430,876,080 437,083,330 429,579,700 Diluted 441,439,924 434,507,344 440,459,081 433,552,552 Comprehensive income attributable to noncontrolling interests: Net income attributable to noncontrolling interests $ 782 $ 630 $ 1,533 $ 1,250 Other comprehensive income - cumulative translation adjustment 227 (8 ) 306 (84 ) Comprehensive income attributable to noncontrolling interests $ 1,009 $ 622 $ 1,839 $ 1,166 _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) June 30,2025 December 31,2024 (in millions) Assets Cash and cash equivalents $ 4,688 $ 3,633 Cash - segregated for regulatory purposes 45,057 36,600 Securities - segregated for regulatory purposes 36,972 27,846 Securities borrowed 10,145 5,369 Securities purchased under agreements to resell 9,529 6,575 Financial instruments owned, at fair value 3,856 1,924 Receivables from customers, net of allowance for credit losses 65,346 64,432 Receivables from brokers, dealers and clearing organizations 4,074 2,196 Other assets 1,808 1,567 Total assets $ 181,475 $ 150,142 Liabilities and equity Liabilities Short-term borrowings $ 8 $ 14 Securities loaned 21,229 16,248 Financial instruments sold but not yet purchased, at fair value 494 293 Other payables: Customers 138,417 115,343 Brokers, dealers and clearing organizations 1,682 476 Other payables 1,127 1,171 141,226 116,990 Total liabilities 162,957 133,545 Equity Stockholders' equity 4,825 4,280 Noncontrolling interests 13,693 12,317 Total equity 18,518 16,597 Total liabilities and equity $ 181,475 $ 150,142 June 30, 2025 December 31, 20241 Ownership of IBG LLC Membership Interests Interests % Interests % IBG, Inc. 441,569,584 26.0 % 435,726,456 25.8 % Noncontrolling interests (IBG Holdings LLC) 1,254,573,416 74.0 % 1,254,573,416 74.2 % Total IBG LLC membership interests 1,696,143,000 100.0 % 1,690,299,872 100.0 % _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES OPERATING DATA EXECUTED ORDER VOLUMES: (in 000's, except %) Customer % Principal % Total % Period Orders Change Orders Change Orders Change 2022 532,064 26,966 559,030 2023 483,015 (9 %) 29,712 10 % 512,727 (8 %) 2024 661,666 37 % 63,348 113 % 725,014 41 % 2Q2024 150,292 13,215 163,507 2Q2025 220,215 47 % 28,372 115 % 248,587 52 % 1Q2025 211,148 28,393 239,541 2Q2025 220,215 4 % 28,372 (0 %) 248,587 4 % CONTRACT AND SHARE VOLUMES: (in 000's, except %) TOTAL Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 908,415 207,138 330,035,586 2023 1,020,736 12 % 209,034 1 % 252,742,847 (23 %) 2024 1,344,855 32 % 218,327 4 % 307,489,711 22 % 2Q2024 321,141 55,171 73,734,105 2Q2025 393,051 22 % 64,271 16 % 96,450,620 31 % 1Q2025 383,998 61,869 93,934,241 2Q2025 393,051 2 % 64,271 4 % 96,450,620 3 % CUSTOMER Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 873,914 203,933 325,368,714 2023 981,172 12 % 206,073 1 % 248,588,960 (24 %) 2024 1,290,770 32 % 214,864 4 % 302,040,873 22 % 2Q2024 308,298 54,106 72,480,534 2Q2025 382,195 24 % 63,918 18 % 95,276,485 31 % 1Q2025 369,931 61,381 92,763,867 2Q2025 382,195 3 % 63,918 4 % 95,276,485 3 % PRINCIPAL Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 34,501 3,205 4,666,872 2023 39,564 15 % 2,961 (8 %) 4,153,887 (11 %) 2024 54,085 37 % 3,463 17 % 5,448,838 31 % 2Q2024 12,843 1,065 1,253,571 2Q2025 10,856 (15 %) 353 (67 %) 1,174,135 (6 %) 1Q2025 14,067 488 1,170,374 2Q2025 10,856 (23 %) 353 (28 %) 1,174,135 0 % _______________________________________________ 1 Includes options on futures INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES OPERATING DATA, CONTINUED CUSTOMER STATISTICS Year over Year 2Q2025 2Q2024 % Change Total Accounts (in thousands) 3,866 2,924 32 % Customer Equity (in billions)1 $ 664.6 $ 497.2 34 % Total Customer DARTs (in thousands) 3,552 2,386 49 % Cleared Customers Commission per Cleared Commissionable Order2 $ 2.65 $ 3.01 (12 %) Cleared Avg. DARTs per Account (Annualized) 206 187 10 % Consecutive Quarters 2Q2025 1Q2025 % Change Total Accounts (in thousands) 3,866 3,616 7 % Customer Equity (in billions)1 $ 664.6 $ 573.5 16 % Total Customer DARTs (in thousands) 3,552 3,519 1 % Cleared Customers Commission per Cleared Commissionable Order2 $ 2.65 $ 2.76 (4 %) Cleared Avg. DARTs per Account (Annualized) 206 220 (6 %) _______________________________________________ (1) Excludes non-Customers. (2) Commissionable Order - a customer order that generates commissions. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES NET INTEREST MARGIN (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Average interest-earning assets Segregated cash and securities $ 78,693 $ 60,057 $ 72,869 $ 60,595 Customer margin loans 60,928 52,422 62,646 49,538 Securities borrowed 7,027 5,898 5,949 5,633 Other interest-earning assets 14,747 11,218 13,601 10,585 FDIC sweeps1 5,226 4,023 5,006 3,942 $ 166,621 $ 133,618 $ 160,071 $ 130,293 Average interest-bearing liabilities Customer credit balances $ 129,998 $ 102,709 $ 124,010 $ 101,110 Securities loaned 17,181 13,688 16,659 12,711 Other interest-bearing liabilities 50 1 58 1 $ 147,229 $ 116,398 $ 140,727 $ 113,821 Net interest income Segregated cash and securities, net2 $ 756 $ 740 $ 1,419 $ 1,504 Customer margin loans3 709 755 1,484 1,433 Securities borrowed and loaned, net 60 25 70 51 Customer credit balances, net3 (857 ) (894 ) (1,674 ) (1,775 ) Other net interest income1/4 193 179 356 354 Net interest income4 $ 861 $ 805 $ 1,655 $ 1,567 Net interest margin ("NIM") 2.07 % 2.42 % 2.09 % 2.42 % Annualized yields Segregated cash and securities 3.86 % 4.96 % 3.93 % 4.99 % Customer margin loans 4.67 % 5.79 % 4.78 % 5.82 % Customer credit balances 2.64 % 3.50 % 2.72 % 3.53 % _______________________________________________ 1 Represents the average amount of customer cash swept into FDIC-insured banks as part of our Insured Bank Deposit Sweep Program. This item is not recorded in the Company's consolidated statements of financial condition. Income derived from program deposits is reported in other net interest income in the table above. 2 Net interest income on "Segregated cash and securities, net" for the three and six months ended June 30, 2025, excludes approximately $26 million of interest income, recorded in the consolidated statements of comprehensive income, related to taxes withheld at source in prior periods, which during the current quarter were determined to be fully refundable. 3 Interest income and interest expense on customer margin loans and customer credit balances, respectively, are calculated on daily cash balances within each customer's account on a net basis, which may result in an offset of balances across multiple account segments (e.g., between securities and commodities segments). 4 Includes income from financial instruments that has the same characteristics as interest, but is reported in other fees and services and other income in the Company's consolidated statements of comprehensive income. For the three and six months ended June 30, 2025 and 2024, $9 million, $17 million, $7 million, and $13 million were reported in other fees and services, respectively. For the three and six months ended June 30, 2025 and 2024, $18 million, $34 million, $6 million, and $15 million were reported in other income, respectively. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Adjusted net revenues1 Net revenues - GAAP $ 1,480 $ 1,230 $ 2,907 $ 2,433 Non-GAAP adjustments Currency diversification strategy, net 5 20 (15 ) 22 Mark-to-market on investments2 (5 ) 40 (16 ) 51 Total non-GAAP adjustments - 60 (31 ) 73 Adjusted net revenues $ 1,480 $ 1,290 $ 2,876 $ 2,506 Adjusted income before income taxes1 Income before income taxes - GAAP $ 1,104 $ 880 $ 2,159 $ 1,746 Non-GAAP adjustments Currency diversification strategy, net 5 20 (15 ) 22 Mark-to-market on investments2 (5 ) 40 (16 ) 51 Total non-GAAP adjustments - 60 (31 ) 73 Adjusted income before income taxes $ 1,104 $ 940 $ 2,128 $ 1,819 Adjusted pre-tax profit margin 75 % 73 % 74 % 73 % Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Adjusted net income available for common stockholders1 Net income available for common stockholders - GAAP $ 224 $ 179 $ 437 $ 354 Non-GAAP adjustments Currency diversification strategy, net 1 5 (4 ) 5 Mark-to-market on investments2 (1 ) 10 (4 ) 13 Income tax effect of above adjustments3 0 (3 ) 2 (4 ) Total non-GAAP adjustments (0 ) 12 (6 ) 14 Adjusted net income available for common stockholders $ 224 $ 191 $ 431 $ 368 Note: Amounts may not add due to rounding. Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in dollars) Adjusted diluted EPS1/4 Diluted EPS - GAAP $ 0.51 $ 0.41 $ 0.99 $ 0.82 Non-GAAP adjustments Currency diversification strategy, net 0.00 0.01 (0.01 ) 0.01 Mark-to-market on investments2 (0.00 ) 0.02 (0.01 ) 0.03 Income tax effect of above adjustments3 0.00 (0.01 ) 0.01 (0.01 ) Total non-GAAP adjustments (0.00 ) 0.03 (0.01 ) 0.03 Adjusted diluted EPS $ 0.51 $ 0.44 $ 0.98 $ 0.85 Diluted weighted average common shares outstanding 441,439,924 434,507,344 440,459,081 433,552,552 Note: Amounts may not add due to rounding. Note: The term "GAAP" in the following explanation refers to generally accepted accounting principles in the United States. 1 Adjusted net revenues, adjusted income before income taxes, adjusted net income available for common stockholders and adjusted diluted earnings per share ("EPS") are non-GAAP financial measures. We define adjusted net revenues as net revenues adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments2. We define adjusted income before income taxes as income before income taxes adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments. We define adjusted net income available to common stockholders as net income available for common stockholders adjusted to remove the after-tax effects attributable to IBG, Inc. of our currency diversification strategy and our net mark-to-market gains (losses) on investments. We define adjusted diluted EPS as adjusted net income available for common stockholders divided by the diluted weighted average number of shares outstanding for the period. Management believes these non-GAAP items are important measures of our financial performance because they exclude certain items that may not be indicative of our core operating results and business outlook and may be useful to investors and analysts in evaluating the operating performance of the business and facilitating a meaningful comparison of our results in the current period to those in prior and future periods. Our currency diversification strategy and our mark-to-market on investments are excluded because management does not believe they are indicative of our underlying core business performance. Adjusted net revenues, adjusted income before income taxes, adjusted net income available to common stockholders and adjusted diluted EPS should be considered in addition to, rather than as a substitute for, GAAP net revenues, income before income taxes, net income attributable to common stockholders and diluted EPS. 2 Mark-to-market on investments represents the net mark-to-market gains (losses) on investments in equity securities that do not qualify for equity method accounting, which are measured at fair value; on our U.S. government and municipal securities portfolios, which are typically held to maturity; and on certain other investments. 3 The income tax effect is estimated using the statutory income tax rates applicable to the Company. 4 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. View source version on Contacts For Interactive Brokers Group, Inc. Investors: Nancy Stuebe, investor-relations@ or Media: Rob Garfield, media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
