Intercontinental Exchange (ICE)


SKU: ICE-1 Category:


Intercontinental Exchange, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings, with adjusted earnings per share reaching a historic high at $1.46, marking an 11% increase from the previous year. Net revenues also soared to $2 billion, exhibiting a 4% pro forma increase, primarily fueled by a substantial double-digit surge in the Exchange segment. The Futures platform, in particular, spearheaded this growth with a notable 22% increase. Transaction revenues, notably in energy, surged by 13%, with a significant 42% growth in energy revenues, particularly in global natural gas. The global oil business exhibited robust trends, boasting a 40% year-over-year increase in average daily volume. In the Fixed Income and Data Services segment, third-quarter revenues reached $559 million. Transaction revenues, excluding the impact of the Euronext migration, increased by 6%. Third-quarter revenues in the Mortgage Technology segment amounted to $330 million, including $87 million related to Black Knight. The closing of the Black Knight transaction unlocked a pipeline of new MSP customers, positioning 2023 as a standout year for MSP sales. Looking forward, ICE’s team anticipates near-term cyclical headwinds and seasonal pressures in the fourth quarter, with total fourth-quarter IMT revenues projected to be $490 million to $500 million.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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