IntercontinentalExchange (ICE) came out with quarterly earnings of $1.48 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $1.41 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this owner of the New York Stock Exchange and other stock markets would post earnings of $1.29 per share when it actually produced earnings of $1.33, delivering a surprise of 3.10%.Over the last four quarters, the company has surpassed conse ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36198 INTERCONTINENTAL EXCHANGE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) Intercontinental Exchange reported record Q1 2024 net revenues of **$2.3 billion**, a **21%** increase, driven by its diversified business model and strong earnings Q1 2024 Key Financial Metrics | Metric | Q1 2024 | YoY Change | | :--- | :--- | :--- | | Net Revenues | $2.3 billion | +21% | | GAAP Diluted EPS | $1.33 | +14% | | Adjusted Diluted EPS | $1.48 | +5% | | Operating Income | $1.1 billion | +10% | | Adjusted Operating Income | $1.4 billion | +18% | | Operating Margin | 46% | N/A | | Adjusted Operating Margin | 59% | N/A | - CEO Jeffrey C. Sprecher emphasized the 'all-weather nature' of the business model, as customers rely on ICE's data and technology for risk management and workflow efficiencies, driving revenue and earnings growth[2](index=2&type=chunk) - CFO Warren Gardiner attributed the record revenue and operating income to the strength of the company's balanced business and strategic investments aimed at long-term profitable growth[4](index=4&type=chunk) [Segment Performance](index=2&type=section&id=Segment%20Performance) Consolidated net revenues reached **$2.3 billion** in Q1 2024, driven by strong performance across all segments, with **25%** recurring revenue growth Q1 2024 Revenue and Margin by Segment | Segment | Net Revenues ($M) | Operating Margin | Adj. Operating Margin | | :--- | :--- | :--- | :--- | | Exchanges | $1,223 | 73% | 75% | | Fixed Income and Data Services | $568 | 38% | 46% | | Mortgage Technology | $499 | (10)% | 37% | | **Consolidated** | **$2,290** | **46%** | **59%** | Q1 2024 Revenue Type Breakdown | Revenue Type | Q1 2024 ($M) | Q1 2023 ($M) | % Change | | :--- | :--- | :--- | :--- | | Recurring Revenues | $1,196 | $953 | 25% | | Transaction Revenues, net | $1,094 | $943 | 16% | [Exchanges Segment Results](index=3&type=section&id=Exchanges%20Segment%20Results) The Exchanges segment's net revenues grew **12%** to **$1.2 billion**, primarily driven by a **33%** surge in Energy revenue, maintaining a **75%** adjusted operating margin Exchanges Segment Revenue Breakdown (Q1 2024 vs Q1 2023) | Revenue Source | Q1 2024 ($M) | Q1 2023 ($M) | % Change | | :--- | :--- | :--- | :--- | | Energy | $457 | $345 | 33% | | Ags and Metals | $72 | $70 | 3% | | Financials | $135 | $128 | 6% | | Cash Equities and Equity Options | $99 | $95 | 4% | | Data and Connectivity Services | $235 | $232 | 1% | | Listings | $122 | $126 | (4)% | | **Total Segment Revenues** | **$1,223** | **$1,097** | **12%** | [Fixed Income and Data Services Segment Results](index=3&type=section&id=Fixed%20Income%20and%20Data%20Services%20Segment%20Results) Fixed Income and Data Services segment revenue increased **1%** to **$568 million**, driven by data and analytics growth, despite declines in transaction-based revenues Fixed Income and Data Services Revenue Breakdown (Q1 2024 vs Q1 2023) | Revenue Source | Q1 2024 ($M) | Q1 2023 ($M) | % Change | | :--- | :--- | :--- | :--- | | Fixed Income Execution | $26 | $32 | (15)% | | CDS Clearing | $93 | $101 | (8)% | | Fixed Income Data and Analytics | $288 | $276 | 4% | | Other Data and Network Services | $161 | $154 | 4% | | **Total Segment Revenues** | **$568** | **$563** | **1%** | [Mortgage Technology Segment Results](index=4&type=section&id=Mortgage%20Technology%20Segment%20Results) Mortgage Technology segment revenue surged **111%** to **$499 million**, driven by acquisitions and strong growth in Servicing Software and Data and Analytics Mortgage Technology Revenue Breakdown (Q1 2024 vs Q1 2023) | Revenue Source | Q1 2024 ($M) | Q1 2023 ($M) | % Change | | :--- | :--- | :--- | :--- | | Origination Technology | $174 | $174 | —% | | Closing Solutions | $44 | $41 | 9% | | Servicing Software | $214 | — | n/a | | Data and Analytics | $67 | $21 | 210% | | **Total Segment Revenues** | **$499** | **$236** | **111%** | [Financial Guidance and Other Matters](index=5&type=section&id=Financial%20Guidance%20and%20Other%20Matters) ICE provided full-year 2024 adjusted operating expense guidance of **$3.79 billion** to **$3.82 billion**, with Mortgage Technology revenue growth expected to be flat to down - Key Q1 2024 financial metrics: - Operating cash flow: **$1.0 billion** - Adjusted free cash flow: **$877 million** - Outstanding debt: **$22.0 billion** as of March 31, 2024 - Dividends paid: **$258 million**[16](index=16&type=chunk) - Updated Financial Guidance: - **Full Year 2024 Adj. OpEx:** **$3.79B - $3.82B** - **Q2 2024 Adj. OpEx:** **$945M - $955M** - **Q2 2024 Adj. Non-operating Expense:** **$205M - $210M** - **Q2 2024 Diluted Share Count:** **572M - 578M** shares[16](index=16&type=chunk) - The company expects full-year 2024 Mortgage Technology pro forma segment revenue growth to be flat-to-down in the low single-digit range[16](index=16&type=chunk) [Consolidated Financial Statements](index=7&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements detail ICE's Q1 2024 net income of **$767 million**, an increase from the prior year, with total assets of **$131.4 billion** and equity of **$26.2 billion** [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) Q1 2024 total revenues less transaction-based expenses grew to **$2.29 billion**, with operating income increasing to **$1.06 billion** and net income attributable to ICE rising to **$767 million** Q1 2024 vs Q1 2023 Income Statement Highlights | Metric ($M) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total revenues, less transaction-based expenses | $2,290 | $1,896 | | Total operating expenses | $1,227 | $927 | | Operating income | $1,063 | $969 | | Net income attributable to Intercontinental Exchange, Inc. | $767 | $655 | | Diluted EPS | $1.33 | $1.17 | [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets were **$131.4 billion**, with **$30.5 billion** in goodwill and **$20.1 billion** in long-term debt, and total equity at **$26.3 billion** Balance Sheet Highlights (as of March 31, 2024) | Account ($M) | Mar 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $863 | $899 | | Total assets | $131,397 | $136,084 | | Goodwill | $30,549 | $30,553 | | Long-term debt | $20,068 | $20,659 | | Total liabilities | $105,108 | $110,298 | | Total equity | $26,289 | $25,786 | [Non-GAAP Financial Measures and Reconciliation](index=9&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliation) This section details adjustments to GAAP results for non-GAAP measures, providing greater transparency by excluding items like acquisition-related intangibles and transaction costs - The company uses non-GAAP measures to provide investors with greater transparency and a better understanding of factors affecting its financial condition and results of operations, as they are not reflective of core business performance[23](index=23&type=chunk) - Key adjustments to GAAP results include: - Amortization of acquisition-related intangibles - Transaction and integration costs - Litigation and regulatory matters - Net losses from unconsolidated investees[24](index=24&type=chunk)[27](index=27&type=chunk) [Adjusted Operating Income, Operating Margin and Operating Expense Reconciliation](index=10&type=section&id=Adjusted%20Operating%20Income%2C%20Operating%20Margin%20and%20Operating%20Expense%20Reconciliation) Q1 2024 GAAP operating income of **$1.06 billion** was adjusted to **$1.36 billion** non-GAAP, primarily by excluding **$254 million** in amortization and **$36 million** in transaction costs Consolidated GAAP to Non-GAAP Operating Income Reconciliation (Q1 2024) | Metric ($M) | Amount | | :--- | :--- | | Operating income (GAAP) | $1,063 | | Amortization of acquisition-related intangibles | +$254 | | Transaction and integration costs | +$36 | | Other | +$7 | | **Adjusted operating income (Non-GAAP)** | **$1,360** | [Adjusted Net Income Attributable to ICE and Diluted EPS](index=11&type=section&id=Adjusted%20Net%20Income%20Attributable%20to%20ICE%20and%20Diluted%20EPS) Adjusted net income for Q1 2024 was **$852 million** (**$1.48** per diluted share), compared to GAAP net income of **$767 million** (**$1.33** per diluted share), after various adjustments GAAP to Non-GAAP Net Income Reconciliation (Q1 2024) | Metric ($M, except per share) | Amount | | :--- | :--- | | Net income attributable to ICE (GAAP) | $767 | | Adjustments (net) | +$85 | | **Adjusted net income attributable to ICE (Non-GAAP)** | **$852** | | Diluted EPS (GAAP) | $1.33 | | **Adjusted diluted EPS (Non-GAAP)** | **$1.48** | [Adjusted Free Cash Flow Calculation](index=12&type=section&id=Adjusted%20Free%20Cash%20Flow%20Calculation) Q1 2024 adjusted free cash flow increased to **$877 million** from **$673 million** in Q1 2023, derived from operating activities less capital expenditures and capitalized software Adjusted Free Cash Flow Calculation (Q1 2024 vs Q1 2023) | Metric ($M) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,009 | $653 | | Less: Capital expenditures & capitalized software | ($145) | ($85) | | Free cash flow | $864 | $568 | | Add: Section 31 fees, net | $13 | $105 | | **Adjusted free cash flow** | **$877** | **$673** |

Investors are always looking for stocks that are poised to beat at earnings season and Intercontinental Exchange, Inc. (ICE) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Intercontinental Exchange is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information ...

The upcoming report from IntercontinentalExchange (ICE) is expected to reveal quarterly earnings of $1.49 per share, indicating an increase of 5.7% compared to the year-ago period. Analysts forecast revenues of $2.3 billion, representing an increase of 21.3% year over year.Over the last 30 days, there has been an upward revision of 1.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over ...

Intercontinental Exchange Inc. (ICE) is slated to report first-quarter 2024 earnings on May 2, before market open. ICE delivered an earnings surprise in each of the last four quarters, the average beat being 3.12%.Factors to NoteSolid performance at Exchanges, and Fixed Income and Data Services segments is likely to have aided revenues in the to-be-reported quarter. The Zacks Consensus Estimate for revenues is pegged at $2.30 billion, indicating an increase of 21.2% from the year-ago reported number.Higher ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering IntercontinentalExchange (ICE) , which belongs to the Zacks Securities and Exchanges industry.This owner of the New York Stock Exchange and other stock markets has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 3.69%.For the last reported quarter, ICE ca ...

Intercontinental Exchange, Inc. (ICE) has been favored by investors on the back of a compelling portfolio, expansive risk-management services, strategic buyouts, solid balance sheet and effective capital deployment.Zacks Rank & Price PerformanceIntercontinental currently carries a Zacks Rank #3 (Hold). Over the past year, the stock has gained 29.7% compared with the industry’s growth of 32.1%.Image Source: Zacks Investment ResearchGrowth ProjectionsThe Zacks Consensus Estimate for Intercontinental’s 2024 ea ...

Intercontinental Exchange, Inc. (ICE) recently announced its partnership with Freddie Mac in a bid to improve the loan quality for lenders in the mortgage origination process. This partnership will aid lenders to serve more borrowers along with lowering risk.This move bodes well for Intercontinental, which aims to strengthen its Mortgage Technology segment. This segment’s revenues accounted for 19% of ICE’s consolidated revenues in 2023. This partnership should benefit from the solutions and automation tech ...

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that Fifth Third Bank will move its origination and servicing operations to the end-to-end mortgage technology ecosystem from ICE. Using the Encompass® and MSP® loan origination and servicing platforms gives the bank a seamlessly integrated system to handle both first lien and home equity products across all lending and servicing channels, from customer engag ...