ICE Q4 2024 Earnings Report

Key Takeaways

Intercontinental Exchange (ICE) reported strong Q4 2024 results with revenue of $2.3 billion, a 6% year-over-year increase. GAAP EPS was $1.21, while adjusted EPS came in at $1.52. Net income reached $698 million, and operating income was $1.1 billion, with an adjusted operating margin of 58%.

Total Revenue

$2.79B

Previous year: $2.6B

+7.1%

EPS

$1.52

Previous year: $1.33

+14.3%

Operating Margin

46%

Adjusted Operating Margin

58%

Adjusted Net Income

$875M

Cash and Equivalents

$1.99B

Previous year: $1.43B

+38.9%

Free Cash Flow

$1.31B

Previous year: $883M

+48.6%

Total Assets

$139B

Previous year: $136B

+2.5%

ICE Revenue

ICE EPS

ICE Revenue by Segment

Forward Guidance

ICE expects moderate growth across its business segments in 2025, with a focus on expanding recurring revenue streams and operational efficiency.

Positive Outlook

Expecting continued revenue growth in all business segments.
Plan to resume share repurchases in Q1 2025.
Maintaining strong adjusted operating margins.
Anticipating capital expenditures of $730M - $780M.
Low to mid-single-digit growth expected in mortgage technology revenue.

Challenges Ahead

Projected increase in operating expenses for 2025.
Expected higher non-operating expenses due to interest costs.
Potential regulatory challenges in certain market segments.
Growth in fixed income and data services expected to be mid-single digits, lower than other segments.
Uncertainty in macroeconomic conditions could impact revenue streams.