IntercontinentalExchange Group (ICE) Tops Q3 EPS by 14c
IntercontinentalExchange Group (NYSE: ICE) reported Q3 EPS of $2.15, $0.14 better than the analyst estimate of $2.01. Revenue for the quarter came in at $745 million versus the consensus estimate of $743.92 million.
“In the third quarter, we grew earnings while integrating the NYSE Liffe operations and announcing strategic investments in SuperDerivatives and the Holland Clearing House, which will accelerate our growth initiatives related to risk management and data services,” said ICE Chairman and CEO Jeffrey C. Sprecher. “We have seamlessly transitioned most of Liffe's markets to ICE's futures exchanges and NYSE achieved a quarterly record in initial public offerings and capital raising. We remain focused on serving customers across our global markets while delivering growth and solid returns to our investors.”
Scott Hill, ICE CFO, said: “Our strong cash generation and balance sheet enabled us to acquire strategic assets while returning capital to shareholders. In the third quarter, we paid a $74 million dividend and repurchased approximately $449 million of our stock. In October, we repurchased an additional $64 million of stock and have $537 million remaining in our current buyback authorization. Importantly, we now expect to realize $265 million in synergies during 2014.
For earnings history and earnings-related data on IntercontinentalExchange Group (ICE) click here.
