CME Group(CME) - 2024 Q4 - Annual Results

Financial Performance - Record revenue of $6.1 billion for full-year 2024, up 10% from the previous year[1] - Fourth-quarter 2024 revenue was $1.5 billion, with operating income of $947 million and net income of $875 million[2] - Adjusted net income for full-year 2024 was $3.7 billion, with diluted earnings per share of $10.26[2] - Total revenues for Q4 2024 reached $1,525.3 million, a 6.0% increase from $1,439.3 million in Q4 2023[17] - Net income for Q4 2024 was $874.6 million, up 7.4% from $814.6 million in Q4 2023[19] - Adjusted net income attributable to common shareholders for Q4 2024 was $907.4 million, compared to $853.8 million in Q4 2023, reflecting a 6.3% increase[19] - Operating income for the year ended December 31, 2024, was $3,931.5 million, a 14.5% increase from $3,435.7 million in 2023[17] - The company reported a basic earnings per share of $2.40 for Q4 2024, compared to $2.24 in Q4 2023, representing a 7.1% increase[19] Volume and Fees - Average daily volume (ADV) for Q4 2024 was 25.5 million contracts, consistent with Q4 2023, including a 5% increase in non-U.S. ADV[3] - Average daily volume (ADV) for Q4 2024 was 25,503 thousand contracts, a decrease of 3.9% from 26,360 thousand contracts in Q3 2024[24] - Clearing and transaction fees revenue for Q4 2024 totaled $1.2 billion, with an average rate per contract of $0.701[6] - The average rate per contract (RPC) for Q4 2024 was $0.701, an increase from $0.682 in Q4 2023[26] Cash and Dividends - As of December 31, 2024, the company had approximately $3.1 billion in cash and $3.4 billion in debt[7] - The company declared dividends of $3.8 billion in 2024, including a variable dividend of $2.1 billion[7] - A first-quarter dividend of $1.25 per share was declared, representing a 9% increase from the previous level[7] Strategic Outlook - CME Group achieved record annual average daily volume and revenue across all asset classes in 2024[3] - The company plans to continue providing products and services to help clients manage risk amid economic and geopolitical uncertainty[3] Investment Income and Expenses - Investment income for Q4 2024 was $936.5 million, down from $1,076.9 million in Q4 2023[17] - Total expenses for Q4 2024 were $578.2 million, slightly up from $576.1 million in Q4 2023[17]