ICE Earns 85 Cents per Share

Still more Buy List earnings reports. We have three more today. This morning, Intercontinental Exchange (ICE) reported Q3 earnings of 85 cents per share. That’s five cents more than expectations. Total revenue, excluding transaction-based expenses, rose 4.7% to $1.2 billion. Also, the board of directors authorized a new share buyback program of $2 billion.

“Our third quarter performance reflected strength across our futures, cash equities, listings and data services businesses, marking the 22nd consecutive quarter of year-over-year revenue growth,” said ICE Chairman & Chief Executive Officer, Jeffrey C. Sprecher. “Against an uncertain regulatory and political backdrop, we are focused on driving innovation, delivering growth and helping to serve our customers’ risk management needs.”

Scott A. Hill, ICE Chief Financial Officer, added, “Through the end of the third quarter, we have grown revenues and earnings, generated record operating cash flows and returned nearly $1.5 billion dollars to stockholders – more than any full year in our history. As we approach the end of 2018, we remain focused on our growth initiatives and value creation.”

The company didn’t offer any financial guidance.

Posted by on October 31st, 2018 at 9:13 am


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