TMX Group’s Reports Upbeat Q1 Earnings, Rising on Yearly Basis

TMX's latest metrics demonstrated a positive performance in Q1 2017.

TMX Group Limited, operator of the Toronto Stock Exchange and the four marketplaces TSX Venture Exchange, Alpha, Montreal Exchange (MX) and NGX, has reported its Q1 2017 financial results, showing a year-over-year ascension across key metrics.

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In particular, TMX’s Q1 2017 revenues managed to climb 5.0 percent year-over-year to $186.1 million from $177.7 million in Q1 2016. Moreover, net income attributable to shareholders was also on the rise, albeit by a slight move to $47.3 million in Q1 2017 from $46.3 million in Q1 2016, or 2.0 percent year-over-year.

TMX also saw an increase in specific revenue segments, helping boost its overall figures. This was primarily attributed to recognizing lower net foreign exchange losses on US dollar and other non-Canadian denominated net monetary assets in Q1 2017 compared with Q1 2016.

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The group’s adjusted earnings per share on a diluted basis yielded $1.12 in Q1 2017, jumping 12.0 percent year-over-year from 1.00 in Q1 2016 – this figure is the highest at TMX in over two years. Cash flows were also pointed higher in Q1 2017, coming in at $67.0 million, vs. $56.0 million in Q1 2016 or 20.0 percent year-over-year.

According to Lou Eccleston, Chief Executive Officer of TMX Group, in a statement ont the earnings: “The first quarter of 2017 represents another significant chapter in TMX’s compelling growth story. Our positive results reflect the progress we have made in implementing a progressive organizational structure that enables us to proactively create advantages for clients across the markets we serve while continuing to deliver on our commitment to achieve profitable growth and generate increased value for shareholders.”

“As we move further into the year and down our evolutionary path, TMX remains focused on leveraging our cross-business capabilities to fortify our value proposition, strengthen our competitive position and expand our global business,” he explained.

TMX Group disclosed its April volumes last week, which saw an average daily volume (ADV) ‎of 576.0 million contracts, representing a decrease of -10.0 percent month-over-month from 640.3 million back in March 2017. Furthermore, the latest figures constituted a larger decline of -14.9 percent year-over-year from 676.6 million contracts back in April 2016.

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