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What's in Store for Intercontinental (ICE) in Q3 Earnings?
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Intercontinental Exchange Inc. (ICE - Free Report) is slated to report third-quarter 2022 earnings on Nov 3, before market open. ICE delivered an earnings surprise in each of the last four quarters, the average being 2.76%.
Factors to Note
Solid performance at Exchanges, Fixed Income and Data Services, and Mortgage Technology segments is likely to have aided revenues in the to-be-reported quarter.
Higher transaction revenues, growth in ICE bonds, strength in consolidated feeds business as well as continued growth in the ICE Global Network are likely to have aided Fixed Income and Data Services. Strength in fixed-income execution and CDS clearing businesses due to elevated volatility across global markets are likely to have added to the upside.
The Zacks Consensus Estimate for Fixed Income and Data Services revenues is pegged at $521 million, indicating a 9.2% increase from the year-ago reported figure.
The Exchange segment is likely to have benefited from an increase in interest rate futures, an increase in equity derivatives revenues, strong demand in energy exchange data, growth in energy and across financial futures and options complex and continued benefit from record 2021 Listings performance.
Lower mortgage origination volumes are likely to have affected The Mortgage Technology segment revenues. The Zacks Consensus Estimate for Mortgage Technology revenues is pegged at $287 million, indicating a 21.6% decrease from the year-ago reported figure.
Expenses are likely to have increased, given an increase in acquisition-related transaction and integration costs, technology and communication, depreciation and amortization.
ICE expects third-quarter 2022 operating expenses in the range of $903-$913 million, while adjusted operating expenses are expected in the range of $743-$753 million. Non-operating expense is expected to be in the range of $180 million to $185 million. Adjusted non-operating expense is expected in the range of $115-$120 million.
The Zacks Consensus Estimate for earnings is pegged at $1.26, indicating a decrease of 3.1% from the prior-year quarter reported figure.
Intercontinental Exchange reported a 5% increase in third-quarter average daily volume (ADV). While North American natural gas ADV increased 3%, total Financials ADV was up 35%. Total Agriculture & Metals ADV was up 4% and equity Indices ADV was up 12%.
What the Zacks Model Says
Our proven model predicts an earnings beat for Intercontinental Exchange this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Intercontinental Exchange has an Earnings ESP of +0.03%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Intercontinental Exchange Inc. Price and EPS Surprise
Some finance stocks with the right combination of elements to come up with an earnings beat this time around are:
Blackstone Secured Lending Fund (BXSL - Free Report) has an Earnings ESP of +3.45% and a Zacks Rank of 3. The Zacks Consensus Estimate for third-quarter earnings is pegged at 68 cents, indicating an increase of 7.9% from the year-ago reported figure.
BXSL’s earnings beat estimates in two of the last four quarters and missed in the other two.
Macro Bank Inc. (BMA - Free Report) has an Earnings ESP of +28.68% and a Zacks Rank of 2. The Zacks Consensus Estimate for third-quarter earnings is pegged at 65 cents, indicating a decrease of 43.9% from the year-ago reported figure.
BMA’s earnings beat estimates in three of the last four quarters and missed in one.
Banco De Chile (BCH - Free Report) has an Earnings ESP of +10.15% and a Zacks Rank of 3. The Zacks Consensus Estimate for third-quarter earnings is pegged at 69 cents, indicating an increase of 53.3% from the year-ago reported figure.
BCH’s earnings beat estimates in two of the last four quarters and missed in the other two.
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What's in Store for Intercontinental (ICE) in Q3 Earnings?
Intercontinental Exchange Inc. (ICE - Free Report) is slated to report third-quarter 2022 earnings on Nov 3, before market open. ICE delivered an earnings surprise in each of the last four quarters, the average being 2.76%.
Factors to Note
Solid performance at Exchanges, Fixed Income and Data Services, and Mortgage Technology segments is likely to have aided revenues in the to-be-reported quarter.
Higher transaction revenues, growth in ICE bonds, strength in consolidated feeds business as well as continued growth in the ICE Global Network are likely to have aided Fixed Income and Data Services. Strength in fixed-income execution and CDS clearing businesses due to elevated volatility across global markets are likely to have added to the upside.
The Zacks Consensus Estimate for Fixed Income and Data Services revenues is pegged at $521 million, indicating a 9.2% increase from the year-ago reported figure.
The Exchange segment is likely to have benefited from an increase in interest rate futures, an increase in equity derivatives revenues, strong demand in energy exchange data, growth in energy and across financial futures and options complex and continued benefit from record 2021 Listings performance.
Lower mortgage origination volumes are likely to have affected The Mortgage Technology segment revenues. The Zacks Consensus Estimate for Mortgage Technology revenues is pegged at $287 million, indicating a 21.6% decrease from the year-ago reported figure.
Expenses are likely to have increased, given an increase in acquisition-related transaction and integration costs, technology and communication, depreciation and amortization.
ICE expects third-quarter 2022 operating expenses in the range of $903-$913 million, while adjusted operating expenses are expected in the range of $743-$753 million. Non-operating expense is expected to be in the range of $180 million to $185 million. Adjusted non-operating expense is expected in the range of $115-$120 million.
The Zacks Consensus Estimate for earnings is pegged at $1.26, indicating a decrease of 3.1% from the prior-year quarter reported figure.
Intercontinental Exchange reported a 5% increase in third-quarter average daily volume (ADV). While North American natural gas ADV increased 3%, total Financials ADV was up 35%. Total Agriculture & Metals ADV was up 4% and equity Indices ADV was up 12%.
What the Zacks Model Says
Our proven model predicts an earnings beat for Intercontinental Exchange this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Intercontinental Exchange has an Earnings ESP of +0.03%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Intercontinental Exchange Inc. Price and EPS Surprise
Intercontinental Exchange Inc. price-eps-surprise | Intercontinental Exchange Inc. Quote
Zacks Rank: Intercontinental Exchange currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Some finance stocks with the right combination of elements to come up with an earnings beat this time around are:
Blackstone Secured Lending Fund (BXSL - Free Report) has an Earnings ESP of +3.45% and a Zacks Rank of 3. The Zacks Consensus Estimate for third-quarter earnings is pegged at 68 cents, indicating an increase of 7.9% from the year-ago reported figure.
BXSL’s earnings beat estimates in two of the last four quarters and missed in the other two.
Macro Bank Inc. (BMA - Free Report) has an Earnings ESP of +28.68% and a Zacks Rank of 2. The Zacks Consensus Estimate for third-quarter earnings is pegged at 65 cents, indicating a decrease of 43.9% from the year-ago reported figure.
BMA’s earnings beat estimates in three of the last four quarters and missed in one.
Banco De Chile (BCH - Free Report) has an Earnings ESP of +10.15% and a Zacks Rank of 3. The Zacks Consensus Estimate for third-quarter earnings is pegged at 69 cents, indicating an increase of 53.3% from the year-ago reported figure.
BCH’s earnings beat estimates in two of the last four quarters and missed in the other two.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.