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Sep 30, 2022
Cboe Q3 2022 Earnings Report
Cboe's third quarter results were released, reporting a 20% increase in net revenue and a 26% increase in diluted EPS.
Key Takeaways
Cboe Global Markets reported strong financial results for Q3 2022, with record adjusted earnings driven by its derivatives franchise and contributions from data and access solutions and cash and spot markets. Net revenue increased by 20% year-over-year, and diluted EPS rose by 26%. The company has increased its organic total net revenue growth target for 2022 and decreased its adjusted operating expense guidance.
Diluted EPS for the quarter was $1.41, up 26 percent.
Adjusted Diluted EPS for the quarter was $1.74, up 20 percent.
Net Revenue for the quarter was $442.4 million, up 20 percent.
Organic Total Net Revenue Growth target for 2022 increased to 14 to 16 percent, from 9 to 11 percent.
Revenue by Segment
Forward Guidance
Cboe provided guidance for the 2022 fiscal year.
Positive Outlook
- Organic net revenue growth is expected to be in the range of 14 to 16 percentage points in 2022, up from previous guidance of 9 to 11 percentage points.
- Revenue from acquisitions held less than a year is expected to contribute total net revenue growth in a range of 2 to 3 percentage points in 2022.
- Organic net revenue from Data and Access Solutions is expected to increase by approximately 10 to 13 percent in 2022, from a base of $419 million in 2021.
- Adjusted operating expenses in 2022 are now expected to be in the range of $651 to $659 million, from a base of $531 million in 2021, down from previous guidance of $659 to $667 million.
- Capital expenditures for 2022 are now expected to be in the range of $43 to 48 million, down from $47 to $52 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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