Intercontinental Exchange 8-K
PositiveEarningsGuidance
Fixed income and data services led revenue growth across all three segments; board increased buyback authorization.
Filed 2026-07-30 07:30 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results with updated FY2026 and Q3 guidance. Net revenues rose 5% Y/Y and diluted EPS rose 14%; all three operating segments grew. ICE returned $945M to stockholders during the quarter and approved a share repurchase authorization increase.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Net revenues, less transaction-based expenses | $2.67B | $2.54B | 5% |
| Operating income, GAAP | $1.39B | $1.30B | 7% |
| Operating income, non-GAAP | $1.63B | $1.56B | 4% |
| Net income attributable to ICE | $958M | $851M | 13% |
| Adjusted net income attributable to ICE, non-GAAP | $1.07B | $1.04B | 3% |
| Diluted EPS, GAAP | $1.69 | $1.48 | 14% |
| Diluted EPS, non-GAAP | $1.90 | $1.81 | 5% |
- Segment revenues: exchanges $1.46B (+3% Y/Y), fixed income and data services $645M (+8%), and mortgage technology $557M (+5%). Consolidated operating margin was 52%; adjusted operating margin was 61%.
- YTD operating cash flow was $3.32B vs $2.47B (+34%); free cash flow was $2.89B vs $2.12B (+36%), and adjusted free cash flow was $2.60B vs $2.02B (+29%).
- Q2 stockholder returns totaled $945M, including $651M in repurchases. Through 6/30/2026, ICE had repurchased $1.2B of shares and paid $591M in dividends. The board increased repurchase authorization to up to $4.0B, effective 7/1/2026. Cash was $1.1B and outstanding debt was $19.8B at quarter-end.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Exchange recurring revenue growth | FY2026 | High-single digits | — | — |
| Fixed income and data services recurring revenue growth | FY2026 | 7%-8% | — | — |
| Operating expenses, GAAP | FY2026 | $5.140B-$5.180B | — | — |
| Operating expenses, non-GAAP | FY2026 | $4.190B-$4.230B | — | — |
| Operating expenses, GAAP | Q3 2026 | $1.298B-$1.308B | — | — |
| Operating expenses, non-GAAP | Q3 2026 | $1.063B-$1.073B | — | — |
| Non-operating expense, GAAP | Q3 2026 | $160M-$165M | — | — |
| Non-operating expense, non-GAAP adjusted | Q3 2026 | $175M-$180M | — | — |
| Capital expenditures | FY2026 | ≈$850M | — | — |
| Weighted average shares outstanding | Q3 2026 | 560M-566M | — | — |
Investor Takeaways
- Q3 results will show how operating expenses and non-operating expense compare with the issued ranges.
- ICE’s Q3 2026 earnings call is scheduled for 10/29/2026.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3