IG Group Holdings shares fell 27% after the online trading platform slashed its 2026 revenue forecast, now expecting third-quarter revenue to decline 14% to around 240 million pounds. The stock dropped to 936.78 pence, its lowest since April 2025, and is down 25% year to date. Peer Plus500 also fell 5.4%.
The company revised its full-year 2026 revenue growth guidance to a mid-single-digit percentage range, down from the 10–15% growth it projected in May. Analysts had anticipated 1.26 billion pounds in revenue, a 12% increase from 2025’s 1.12 billion pounds base. Over-the-counter derivatives revenue retention fell to 70%, below the 80% average since mid-2025, attributed to reduced hedging.
Despite an 8% rise in OTC customer income, net trading revenue fell 18% to 155 million pounds. Non-recurring costs from redomiciling to Jersey and restructuring are expected at 30 million pounds, with 16.4 million already reported. Excluding these and Underdog acquisition expenses, EBITDA margin is projected in the low-40s, down from 47.3% in 2025.
RBC Capital Markets estimates EBITda between 490–500 million pounds, at least 13% below the 573.4 million consensus. The board remains confident in medium-term growth beyond 2026, citing customer growth and product investment.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing