01—Abstract
Summary
Summary of the 10-Q filed November 2, 2018. Cited figures are marked; the original filing is the authoritative source.
Cboe Global Markets, Inc. (CBOE) filed its third-quarter 2018 10-Q report on November 2, 2018, providing investors with an update on its financial performance and operational landscape.
The report covers the nine months ended September 30, 2018, and includes unaudited condensed consolidated financial statements. Investors should pay close attention to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" for insights into the company's revenue drivers, expense management, and strategic initiatives. The "Risk Factors" section also remains critical for understanding potential headwinds that could impact future performance.
Key financial statements presented include the balance sheet, income statement, statements of comprehensive income, changes in stockholders' equity, and cash flows. These statements offer a snapshot of CBOE's assets, liabilities, equity, profitability, and cash generation.
While this filing is unaudited, it provides timely information for assessing the company's trajectory and making informed investment decisions. The inclusion of "Quantitative and Qualitative Disclosures about Market Risk" is also important for understanding CBOE's exposure to various market fluctuations.
02—Key points
Key Highlights
- The filing includes unaudited Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2018, and 2017, providing a view of recent financial performance.
- Management's Discussion and Analysis (MD&A) offers crucial insights into the company's operational results, financial condition, and the factors influencing changes in performance.
- The report details Cboe's balance sheet as of September 30, 2018, compared to December 31, 2017, highlighting changes in assets, liabilities, and equity.
- Statements of Income for the periods ending September 30, 2018, and 2017, will show revenue trends, cost structures, and profitability metrics.
- The Condensed Consolidated Statements of Cash Flows are vital for understanding Cboe's cash generation from operations, investing activities, and financing activities.
- The "Risk Factors" section (Item 1A) outlines potential challenges and uncertainties that could affect the company's business and financial results, requiring investor attention.
- Quantitative and Qualitative Disclosures about Market Risk (Item 3) provide information on Cboe's exposure to market fluctuations and how these risks are managed.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q3 FY2018, Cboe Global Markets, Inc. kept $0.15.
- Revenue$575.9M100.0%
- Cost of revenue−$305.4M53.0%
- Gross profit$270.5M47.0%
- Operating costs−$144.4M25.1%
- Operating income$126.1M21.9%
- Interest, other & tax−$41.1M7.1%
- Net income$85.0M14.8%
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2018filed November 2, 2018Financial Statements
Q3 FY2018 against Q3 FY2017
| Line item | Q3 FY2018Q3 FY2017 | Change |
|---|---|---|
| Revenue | $575.90M$611.40M | −5.8% |
| Cost of Revenue | $305.40M$341.70M | −10.6% |
| Gross Profit | $270.50M$269.70M | +0.3% |
| Operating Expenses | $144.40M$150.40M | −4.0% |
| Operating Income | $126.10M$119.30M | +5.7% |
| Interest Expense | $10.70M$11.00M | −2.7% |
| Net Income | $85.00M$59.70M | +42.4% |
| EPS (Basic) | $0.76$0.53 | +43.4% |
| EPS (Diluted) | $0.76$0.53 | +43.4% |
| Shares Outstanding (Basic) | 111.40M112.30M | −0.8% |
| Shares Outstanding (Diluted) | 111.80M112.60M | −0.7% |
05—Questions
Frequently Asked Questions
What is the primary purpose of this 10-Q filing for Cboe Global Markets, Inc.?
This 10-Q filing provides investors with the company's unaudited financial performance for the third quarter and the year-to-date period ended September 30, 2018. It includes essential financial statements, management's analysis of results and financial condition, and updates on risk factors and other material information.
Where can I find information on Cboe's revenue and profitability trends?
Information on Cboe's revenue and profitability trends can be found in the "Condensed Consolidated Statements of Income" for the three and nine months ended September 30, 2018, and 2017. The "Management's Discussion and Analysis of Financial Condition and Results of Operations" will provide a more detailed narrative explanation of these trends.
What are the key changes in Cboe's financial position compared to the prior year?
The "Condensed Consolidated Balance Sheets" as of September 30, 2018, and December 31, 2017, will detail any significant changes in Cboe's assets, liabilities, and equity. Investors should refer to the MD&A for management's commentary on the drivers of these changes.
What are the main risks highlighted by Cboe that could impact its business?
The "Risk Factors" section (Item 1A) of the 10-Q filing will outline the specific risks Cboe identifies as potentially affecting its business, financial condition, or results of operations. Investors should carefully review this section to understand potential challenges.
06—Continue