Early Access

10-QPeriod: Q1 FY2014

Intercontinental Exchange, Inc. Quarterly Report for Q1 Ended Mar 31, 2014

Filed May 8, 2014For Securities:ICE

Summary

Intercontinental Exchange, Inc. (ICE) reported strong financial performance for the first quarter ended March 31, 2014. The company's revenues, less transaction-based expenses, saw a significant increase of 165% year-over-year, driven by the inclusion of NYSE Euronext's results following its acquisition in November 2013. This strategic acquisition has substantially expanded ICE's operational footprint and revenue streams. Despite increased operating expenses, largely due to the integration of NYSE Euronext, ICE demonstrated robust operating income growth of 105%. The company also reported a substantial increase in net income attributable to ICE Group shareholders, up 93% from the prior year. Key strategic initiatives, including the planned IPO of Euronext and the divestiture of NYSE Technologies, are progressing, signaling a focus on optimizing the integrated business portfolio. Overall, ICE delivered a strong quarter, characterized by significant revenue growth and strategic advancements.

Financial Highlights

55 data points
Beta

Revenue

$1.06B

Net Income

$315.00M

0.3% Net Margin

EPS (Diluted)

$560000.00

Total Assets

$65.92B

Cash & Equivalents

$964.00M

Free Cash Flow

$512.00M

Financial Statements
Beta
Revenue$1.06B
SG&A Expenses$26.00M
Operating Expenses$406.00M
Operating Income$462.00M
Interest Expense$27.00M
Net Income$315.00M
EPS (Basic)$560000.00
EPS (Diluted)$560000.00
Shares Outstanding (Basic)575.00M
Shares Outstanding (Diluted)580.00M

Key Highlights

  • 1Total revenues, less transaction-based expenses, increased by 165% to $932 million for the three months ended March 31, 2014, largely due to the acquisition of NYSE Euronext.
  • 2Operating income grew by 105% to $409 million, demonstrating the company's ability to manage expenses effectively despite increased operational scale.
  • 3Net income attributable to ICE Group shareholders surged by 93% to $262 million.
  • 4Diluted earnings per share increased to $2.27 from $1.85 in the prior year period.
  • 5The company successfully closed the acquisition of Singapore Mercantile Exchange (SMX) on February 3, 2014, expanding its Asian presence.
  • 6ICE is actively preparing for the planned initial public offering (IPO) of Euronext and the divestiture of NYSE Technologies, aiming to streamline its business portfolio.
  • 7Total debt decreased from $5,058 million at the end of 2013 to $4,881 million as of March 31, 2014.

Frequently Asked Questions