What's in Store for Intercontinental Exchange This Earnings Season?

Core Insights - Intercontinental Exchange Inc. (ICE) is anticipated to show improvements in both revenue and earnings for the second quarter of 2025, with revenue expected to reach $2.52 billion, reflecting an 8.8% year-over-year growth [1] - The earnings consensus estimate is set at $1.77 per share, indicating a 16.4% increase compared to the previous year, with a 2.3% upward revision in the last 30 days [2] Revenue Breakdown - Fixed Income and Data Services revenues are projected to be around $595 million, with estimates suggesting a slight increase to $600.4 million due to growth in pricing and reference data [6] - The Exchange segment is expected to generate $2 billion in revenue, with estimates indicating a potential increase to $1.3 billion driven by higher trading volumes in energy and financial futures [7] - The Mortgage Technology segment's revenues are estimated at $535 million, with expectations of reaching $587.8 million due to growth in origination technology and servicing solutions [8] Expense and Volume Insights - Total expenses are anticipated to rise by 8.2% to approximately $1 billion, with adjusted expenses expected between $980 million and $990 million [9] - Non-operating expenses are projected to be between $175 million and $180 million, while share buybacks are likely to contribute positively to the overall performance [11] - ICE reported a 26% increase in average daily volume (ADV) for the second quarter, with notable increases in Natural Gas ADV (up 16%) and Energy ADV (up 27%) [11]