ICE Q1 2023 Earnings Report
Key Takeaways
Intercontinental Exchange reported strong first-quarter results with net revenues of $1.9 billion and GAAP diluted EPS of $1.17. The company's performance was driven by recurring revenues and solid results across its exchanges, fixed income and data services, and mortgage technology segments.
Net revenues for 1Q23 reached $1.9 billion.
GAAP diluted earnings per share (EPS) for 1Q23 was $1.17.
Adjusted diluted earnings per share for 1Q23 was $1.41.
The operating margin for 1Q23 was 51%, with an adjusted operating margin of 61%.
ICE
ICE
Forward Guidance
ICE did not provide specific financial guidance in this report. However, they expressed confidence in their ability to benefit from near-term cyclical tailwinds and longer-term secular trends, focusing on investing in profitable growth.
Positive Outlook
- Well positioned to benefit from near-term cyclical tailwinds
- Focused on investing in profitable growth
- Diverse platform is well positioned to continue to serve customers
- Focused on creating value for stockholders
- Longer-term secular trends
Challenges Ahead
- Dynamic macroeconomic environment
- Pending Black Knight acquisition costs
- Ellie Mae integration costs
- Amortization of acquisition-related intangibles
- Non-operating expense includes interest income, interest expense and net other income/expense.