Intercontinental Exchange Reports Strong Q1 2015 Financial Results

First quarter 2015 consolidated revenues, less transaction-based expenses, increased 7% to $850 million compared to the same period in 2014.

Intercontinental Exchange (NYSE: ICE), a global network of exchanges and clearing houses, has reported its financial results for the Q1 2015. For the quarter ending March 31, 2015, consolidated net income attributable to ICE yielded $315 million on $850 million consolidated revenues less transaction-based expenses. In addition, diluted earnings per share (EPS) in Q1 2015 were $2.80.

In terms of FX (foreign exchange), ICE also revealed its total FX volume for April 2015, which included both futures and options for the U.S. Dollar (USD) Index and FX. ICE’s total FX volume reached 11,000 contracts, up 237% YoY.

Metrics Breakdown

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ICE’s operating results for Q1 2015 showed adjusted net income from continuing operations at $344 million, along with adjusted diluted EPS from continuing operations showing $3.06, an increase of 26% YoY from Q1 2014. Moreover, ICE held unrestricted cash of $752 million and $3.2 billion in outstanding debt, excluding $1.0 billion reserved for repayment of June 2015 Eurobonds as of March 31, 2015.

Finally, ICE’s diluted share count for the second quarter 2015 is expected to be in the range of 111 million to 113 million weighted average shares outstanding, including share repurchases through April 2015.

According to ICE Chairman and CEO Jeffrey C. Sprecher in a recent statement on the metrics release, “We delivered another record quarter by growing revenues and reducing our expense base, while serving our customers’ needs amid a dynamic time. We grew revenues across each major business line, including data services and listings where we posted record revenues, as well as in cash equities and commodities markets. And again this quarter, NYSE led in total capital raised globally. We continue to innovate across all of our businesses to deliver growth and solid returns for our shareholders.”

“We maintained strong expense discipline in the quarter and remain on track to achieve our expense synergy goals as well as double digit earnings growth in 2015. In addition, our strong cash generation and balance sheet enabled us to return $269 million of capital to shareholders through dividends and share repurchases. And we expanded our share buyback authorization to $600 million and announced a 15% increase in our dividend starting in the second quarter. Our continued growth and strong cash generation enables us to pursue our strategic objectives, serve our customers and create value for our shareholders,” added Scott Hill, ICE CFO in an accompanying statement.

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