ICE Earning Date, Transcript Summary & Report

Record Earnings Per Share: Full year adjusted earnings per share totaled $6.07, an increase of 8% year-over-year, marking the best year in the company’s history.

Record Net Revenue Growth: Full year net revenues totaled a record $9.3 billion, pro forma for the acquisition of Black Knight increased by 6% versus last year.

Q4 Earnings Per Share Growth: Fourth quarter adjusted earnings per share totaled $1.52, up 14% versus last year.

Quarterly Revenue Increase: Fourth quarter net revenues of $2.3 billion increased 5% year-over-year, driven by transaction revenues of $1.1 billion and recurring revenues of $1.2 billion.

Free Cash Flow Highlights: Record operating performance contributed to full year free cash flow of $3.6 billion, of which $1 billion was returned to shareholders through dividends.

Earnings Miss Reported: Intercontinental Exchange, Inc. misses on earnings expectations with reported EPS of $1.52, falling short of the expected $1.53.

Operating Expenses Analysis: Fourth quarter adjusted operating expenses totaled $973 million, which, despite being below guidance, indicates a lack of aggressive cost management given the overall revenue growth.

Exchange Segment Revenue Decline: Recurring revenues in the Exchange segment totaled $353 million, reflecting a sequential decline driven by a one-time true-up, suggesting potential volatility in revenue streams.

Mortgage Technology Revenue Decline: In the Mortgage Technology segment, recurring revenues totaled $391 million, down year-over-year, indicating challenges in maintaining customer spending despite some improvements relative to the previous quarter.

Operating Expense Guidance: Guidance for 2025 indicates adjusted operating expenses are expected to increase by roughly 3% year-over-year, suggesting ongoing cost pressures despite efforts to achieve synergies.