Intercontinental Exchange (ICE) Misses Q3 EPS by 1c

November 1, 2016 7:36 AM EDT

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Intercontinental Exchange (NYSE: ICE) reported Q3 EPS of $3.21, $0.01 worse than the analyst estimate of $3.22. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.08 billion.

"In 2016, we’ve grown revenue, margins and earnings while investing in our long term growth," said ICE Chairman and CEO Jeffrey C. Sprecher. "Our double digit earnings growth year to date is driven by serving the rising demand for risk management, data and for capital efficient solutions in the US, Europe and Asia as markets evolve, driven by regulation, automation and innovation."

Scott A. Hill, ICE CFO, said: “We generated $1.5 billion of operating cash flows through September, which enabled us to reduce our debt by $1 billion while growing our dividend compared to 2015, and we resumed our share repurchases in October of 2016. Our strategic approach to investing, ability to consistently generate operating efficiencies and disciplined allocation of capital has allowed us to generate growth in earnings and cash, diversify our business model, and deliver solid returns to our investors."

Financial Guidance

2016 Data Services Revenue +125-126% y/y +6-7% y/y on a pro forma basis(1)
2016 Operating Expenses $2.27-$2.30 billion(2) $1.94-$1.97 billion(2)
4Q16 Operating Expenses $580-$590 million(3) $500-$505 million(3)
2016 Expense Synergies ~$115 million
2016 Weighted Average Shares Outstanding 118 - 121 million shares (or 590-605 million shares reflected for the announced 5-for-1 stock split) for 4Q16 and 2016

For earnings history and earnings-related data on Intercontinental Exchange (ICE) click here.

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