Intercontinental Exchange(US:ICE)2024-05-02 18:15Financial Performance Highlights - ICE achieved record net revenues of $2290 million in 1Q24, a 20% increase year-over-year, or a 5% increase on a pro forma constant currency basis[13] - Adjusted operating income reached $1360 million, up 17% year-over-year, or 8% on a pro forma constant currency basis[13] - Adjusted diluted EPS was $148, a 5% increase year-over-year[13] - Adjusted free cash flow increased by 30% to $877 million[13] Segment Performance - Exchanges - Total exchange revenues were $1223 million, a 12% increase year-over-year, or 11% on a constant currency basis[16] - Energy revenues increased by 33% to $457 million, or 32% on a constant currency basis, driven by record global oil revenues[16, 17] - Ags revenues increased by 3% to $72 million, or 2% on a constant currency basis[16] - Financials revenues increased by 6% to $135 million, or 3% on a constant currency basis[16] Segment Performance - Fixed Income & Data Services - Total revenues were $568 million, a 1% increase year-over-year, or 1% on a constant currency basis[44] - Fixed Income Data & Analytics revenues increased by 4% to $288 million, or 4% on a constant currency basis[44] - Fixed Income Execution revenues decreased by 15% to $26 million, or 15% on a constant currency basis[44] Segment Performance - Mortgage Technology - Total revenues were $499 million, a 111% increase year-over-year, but a 3% decrease on a pro forma basis[45] - Recurring revenues were $390 million, a 136% increase year-over-year, but a 3% decrease on a pro forma basis[45] - Adjusted operating income was $185 million, a 118% increase year-over-year, or 8% on a pro forma basis[45] Guidance - Updated FY24 adjusted expense guidance is $379 - $382 billion[40] - FY24 pro forma segment revenue growth for Mortgage Technology is expected to be flat-to-down low single digits[25]