Intercontinental Exchange Earns 94 Cents per Share

Fourth quarter revenues of $1.3 billion, +14% y/y
GAAP diluted EPS of $1.07
Adj. diluted EPS of $0.94, +25% y/y
Operating margin of 52%; Adj. operating margin of 58%
Nearly $1.8 billion returned to stockholders in 2018, +23% y/y

Intercontinental Exchange (ICE), a leading operator of global exchanges and clearing houses and provider of data and listing services, today reported financial results for the fourth quarter and full year of 2018. For the quarter ended December 31, 2018, consolidated net income attributable to ICE was $611 million on $1.3 billion of consolidated revenues less transaction-based expenses. Fourth quarter GAAP diluted earnings per share (EPS) were $1.07. Adjusted net income attributable to ICE was $536 million in the fourth quarter and adjusted diluted EPS were $0.94, up 25% year-over-year.

For the full year of 2018 consolidated net income attributable to ICE was $2.0 billion on $5.0 billion of consolidated revenues less transaction-based expenses. Full year 2018 GAAP diluted EPS were $3.43. On an adjusted basis, net income attributable to ICE for the year was $2.1 billion and adjusted diluted EPS were $3.59, up 21% year-over-year.

Please refer to the reconciliation of non-GAAP financial measures included in this press release for more information on our adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income, adjusted diluted EPS, organic data revenue and free cash flow.

“2018 marked our 13th consecutive year of record revenues – a track record directly attributable to customer demand for our risk management solutions and the investments we’ve made to enhance our technology, expand our content and broaden our distribution,” said ICE Chairman & Chief Executive Officer, Jeffrey C. Sprecher. “As we look to 2019, we remain focused on bringing mission-critical solutions to our customers and delivering value to our stockholders.”

Scott A. Hill, ICE Chief Financial Officer, added: “In addition to record revenues, we generated record cash flows in 2018, enabling us to return nearly $1.8 billion in capital to stockholders, more than any year in our history. As we enter 2019, we remain committed to prudent capital management and a disciplined approach to investment to support continued growth and to enhance long-term stockholder value.”

Intercontinental Exchange (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced board authorization of its first quarter 2019 dividend of $0.275 per share, up 15% from its previous $0.24 per share quarterly dividend in 2018.

The first quarter cash dividend is payable on March 29, 2019 to stockholders of record as of March 15, 2019. The ex-dividend date is March 14, 2019.

ICE expects the annual total dividend for 2019 to be $1.10 per share, for an aggregate payout of approximately $620 million, and the expected record and payable dates for the balance of the year are expected to be as noted below, subject to board authorization.