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CME Group (CME) to Report Q1 Earnings: What's in Store?
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CME Group (CME - Free Report) is slated to report first-quarter 2023 earnings on Apr 26, before market open. CME delivered an earnings surprise in each of the last four quarters, the average being 2.94%.
Factors to Consider
CME Group’s top line in the to-be-reported quarter is likely to have benefited from an increase in clearing, transaction fees and other revenues, and market data and information services. The Zacks Consensus Estimate for the top line is pegged at $1.4 billion, indicating an increase of 5.1% from the year-ago reported figure. Our estimate is $1.2 billion.
Clearing and transaction fees are likely to have benefited from increased volatility that likely have driven higher volumes. The Zacks Consensus Estimate for clearing and transaction fees is pegged at $1.1 billion, while our estimate is $1 billion.
Recently, CME Group reported solid average daily volume (ADV) for the first quarter of 2023. ADV of record 26.9 million contracts increased 4% year over year, driven by growth in Interest Rate, Options. Foreign Exchange, Metals, Bitcoin as well as Ether futures.
Market data and information services revenues are likely to have increased owing to price increases for certain device fees. The consensus estimate for market data and information services is pegged at $154 million, indicating an increase of 4.7% from the year-ago reported figure. We estimate the metric to be $158.9 million.
Expenses are likely to have decreased in the to-be-reported quarter due to lower compensation and benefits, technology, reduced professional fees and outside services, amortization of purchased intangibles, lower depreciation and amortization.
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $2.32, indicating an increase of 10% from the year-ago quarter reported figure.
What the Zacks Model Says
Our proven model does not conclusively predict an earnings beat for CME Group in the to-be-reported quarter. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for a likely positive surprise. This is not the case here, as elaborated below.
Earnings ESP: CME Group has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $2.32 You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Some stocks worth considering from the finance sector with a perfect mix of elements to surpass estimates in their upcoming quarterly releases are as follows:
Intercontinental Exchange (ICE - Free Report) has an Earnings ESP of +1.17% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at $1.38 per share, indicating a decrease of 3.5% from the year-ago reported figure.
ICE’s earnings beat estimates in three of the last four reported quarters, while missing in the other one.
MarketAxess (MKTX - Free Report) has an Earnings ESP of +0.33% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at $1.89, implying an increase of 7.7% from the figure reported in the year-ago quarter.
MKTX’s earnings beat estimates in the last four reported quarters.
Cboe Global Markets (CBOE - Free Report) has an Earnings ESP of +2.07% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at $1.89, indicating an increase of 9.2% from the year-ago reported figure.
CBOE’s earnings beat estimates in the last four reported quarters.
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CME Group (CME) to Report Q1 Earnings: What's in Store?
CME Group (CME - Free Report) is slated to report first-quarter 2023 earnings on Apr 26, before market open. CME delivered an earnings surprise in each of the last four quarters, the average being 2.94%.
Factors to Consider
CME Group’s top line in the to-be-reported quarter is likely to have benefited from an increase in clearing, transaction fees and other revenues, and market data and information services. The Zacks Consensus Estimate for the top line is pegged at $1.4 billion, indicating an increase of 5.1% from the year-ago reported figure. Our estimate is $1.2 billion.
Clearing and transaction fees are likely to have benefited from increased volatility that likely have driven higher volumes. The Zacks Consensus Estimate for clearing and transaction fees is pegged at $1.1 billion, while our estimate is $1 billion.
Recently, CME Group reported solid average daily volume (ADV) for the first quarter of 2023. ADV of record 26.9 million contracts increased 4% year over year, driven by growth in Interest Rate, Options. Foreign Exchange, Metals, Bitcoin as well as Ether futures.
Market data and information services revenues are likely to have increased owing to price increases for certain device fees. The consensus estimate for market data and information services is pegged at $154 million, indicating an increase of 4.7% from the year-ago reported figure. We estimate the metric to be $158.9 million.
Expenses are likely to have decreased in the to-be-reported quarter due to lower compensation and benefits, technology, reduced professional fees and outside services, amortization of purchased intangibles, lower depreciation and amortization.
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $2.32, indicating an increase of 10% from the year-ago quarter reported figure.
What the Zacks Model Says
Our proven model does not conclusively predict an earnings beat for CME Group in the to-be-reported quarter. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for a likely positive surprise. This is not the case here, as elaborated below.
Earnings ESP: CME Group has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $2.32 You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
CME Group Inc. Price, Consensus and EPS Surprise
CME Group Inc. price-consensus-eps-surprise-chart | CME Group Inc. Quote
Zacks Rank: CME Group currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Some stocks worth considering from the finance sector with a perfect mix of elements to surpass estimates in their upcoming quarterly releases are as follows:
Intercontinental Exchange (ICE - Free Report) has an Earnings ESP of +1.17% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at $1.38 per share, indicating a decrease of 3.5% from the year-ago reported figure.
ICE’s earnings beat estimates in three of the last four reported quarters, while missing in the other one.
MarketAxess (MKTX - Free Report) has an Earnings ESP of +0.33% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at $1.89, implying an increase of 7.7% from the figure reported in the year-ago quarter.
MKTX’s earnings beat estimates in the last four reported quarters.
Cboe Global Markets (CBOE - Free Report) has an Earnings ESP of +2.07% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at $1.89, indicating an increase of 9.2% from the year-ago reported figure.
CBOE’s earnings beat estimates in the last four reported quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.