Intercontinental Exchange (ICE) Misses Q2 EPS by 1c

Intercontinental Exchange (NYSE: ICE) reported Q2 EPS of $1.16, $0.01 worse than the analyst estimate of $1.17. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.72 billion.

Jeffrey C. Sprecher, ICE Chairman & Chief Executive Officer, said,

"We are pleased to report our second quarter results that extend our track record of growth. Amidst a dynamic macroeconomic backdrop, customers continue to access our networks to manage risk, consume data and drive workflow efficiencies. As we look to the second half of the year and beyond, we will continue to leverage our data, technology & network expertise to deliver innovative solutions for our customers and drive growth for our stockholders."

Financial Guidance

• ICE's third quarter 2021 total recurring revenues are expected to be in a range of $870 million to $885 million.
• ICE's third quarter 2021 GAAP operating expenses are expected to be in a range of $930 million to $940 million and adjusted operating expenses(1) are expected to be in a range of $770 million to $780 million and include $55 million related to Bakkt.
• ICE's full year 2021 GAAP operating expenses are expected to be in a range of $3.610 billion to $3.640 billion and adjusted operating expenses(1) are expected to be in a range of $2.950 billion to $2.980 billion to include third quarter Bakkt expense of $55 million.
• ICE's third quarter 2021 GAAP non-operating expense(2) is expected to be in the range of $110 million to $115 million and adjusted non-operating expense is expected to be in the range of $100 million to $105 million.
• ICE's full year 2021 capital expenditures are expected to be in a range of $430 million to $450 million.
• ICE's diluted share count for the third quarter is expected to be in the range of 563 million to 569 million weighted average shares outstanding.

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

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