Loading...
•
Dec 31, 2020
Cboe Q4 2020 Earnings Report
Cboe's Q4 2020 financial results were reported, showing revenue growth and EPS that met expectations.
Key Takeaways
Cboe Global Markets reported solid fourth quarter and strong full year 2020 results. Net revenue for the quarter was $307.1 million, a 10% increase compared to the prior-year period. Diluted EPS increased 5% to $0.81, while adjusted diluted EPS was flat at $1.21.
Diluted EPS of $0.81 for the quarter, up 5% year-over-year.
Adjusted diluted EPS of $1.21 for the quarter, flat compared to the previous year.
Net revenue of $307 million for the quarter, up 10% year-over-year.
Board of Directors authorizes up to an additional $200 million for share repurchase program
Revenue by Segment
Forward Guidance
Cboe provided guidance for the 2021 fiscal year. Adjusted operating expenses are expected to be in the range of $531 to $539 million. The effective tax rate on adjusted earnings for the full year is expected to be in the range of 27.5 to 29.5 percent.
Positive Outlook
- The company expects recently closed acquisitions to contribute net revenue growth in a range of 4 to 6 percentage points.
- Recurring non-transactional revenue, defined as access and capacity fees plus proprietary market data, is targeted to increase by 7 percent to 8 percent, from a base of $342 million in 2020, with organic growth targeted in a range of 6 to 7 percent.
- Adjusted operating expenses are expected to be in the range of $531 to $539 million.
- Depreciation and amortization expense, which is included in adjusted operating expenses above, is expected to be in the range of $38 to $42 million, excluding the expected amortization of acquired intangible assets of $116 million.
- Capital expenditures are expected to be in the range of $60 to $65 million, reflecting expenditures associated with the company’s planned trading floor relocation in 2021 and ongoing capacity and technology-related investments.
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
Loading earnings performance data...
Loading earnings reaction data...