Every material Form 8-K Intercontinental Exchange has filed with the SEC since May 02, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Intercontinental Exchange reported third quarter 2026 net revenues of $2.8 billion and net income attributable to ICE of $940 million, both up year-over-year. The company returned $2.5 billion to stockholders through the first nine months of the year, including $1.6 billion in share repurchases.
3Q26 net revenues reached $2.8 billion, representing a 15% increase year-over-year.
3Q26 GAAP diluted EPS was $1.67, and adjusted diluted EPS was $2.02, both up 18% year-over-year.
Through September 30, 2026, the company returned $2.5 billion to stockholders, including $1.6 billion in share repurchases.
The Department of Justice and the Federal Trade Commission granted early termination of the HSR Act waiting period on October 21, 2026, for the MarketAxess acquisition.
Intercontinental Exchange entered new financing tied to its pending acquisition of MarketAxess Holdings, including a $2.0 billion delayed draw term loan and amendments to its $3.9 billion revolving credit facility. The filing also shows the company issued $3.73 billion in senior unsecured notes, which permanently reduced its $6.2 billion bridge facility to zero, so the acquisition is now backed by these new sources rather than the bridge.
Term loan facility of $2.0 billion with Bank of America as administrative agent, maturing 24 months after funding
Revolving credit facility extended to August 20, 2031 for consenting lenders with $3.67 billion in commitments, and a new $1.5 billion MarketAxess revolving commitment class
Senior unsecured notes issued August 20, 2026 for gross proceeds of $3.73 billion; $6.2 billion bridge facility reduced to $0
On July 29, 2026, Intercontinental Exchange agreed to acquire MarketAxess Holdings for $167 per share in cash, a 33% premium to MarketAxess's July 29 closing price, for an equity value of about $6.0 billion and an enterprise value of about $5.7 billion. ICE plans to fund the deal with newly issued debt and cash, with a bridge facility of up to $6.25 billion as backup, and the company also raised its baseline quarterly share repurchases. The deal is expected to close in the first half of 2027, subject to MarketAxess stockholder approval and regulatory clearances.
$167 per share in cash, a 33% premium to the July 29, 2026 closing price; equity value about $6.0 billion, enterprise value about $5.7 billion
Financing: 100% cash consideration via newly issued debt; Bank of America bridge facility of up to $6.25 billion as backup
ICE raises baseline share repurchases to $400 million per quarter from $350 million; gross leverage of 3.4x at start, targeted at 3.0x or below within 18 to 24 months after close
$100 million in annual run-rate expense synergies expected within three years of close; expected to close in the first half of 2027
Intercontinental Exchange reported second quarter 2026 net revenues of $2.7 billion, up 5% year over year, and GAAP diluted EPS of $1.69, up 14%. Adjusted diluted EPS was $1.90, up 5%, and the board raised the share repurchase authorization to up to $4.0 billion effective July 1, 2026, which supports continued capital returns to stockholders.
Q2 2026 net revenues of $2.7 billion, up 5% year over year; GAAP operating income of $1.4 billion, up 7%
GAAP diluted EPS of $1.69 (up 14%); adjusted diluted EPS of $1.90 (up 5%)
Through June 30, 2026, returned $1.8 billion to stockholders, including $1.2 billion in share repurchases
Board approved share repurchase authorization increase to up to $4.0 billion, effective July 1, 2026
Intercontinental Exchange reported first quarter 2026 results for the quarter ended March 31, with consolidated revenues of $3.0 billion, up 20% from a year earlier. GAAP diluted EPS was $2.48, up from $1.38, while adjusted diluted EPS was $2.35, up from $1.72, and the company returned $848 million to stockholders through the quarter.
Consolidated revenues of $3.0 billion, up 20% year over year; operating income of $1.7 billion, up 36%
GAAP diluted EPS of $2.48 versus $1.38 a year earlier; adjusted diluted EPS of $2.35 versus $1.72
GAAP results include $389 million of fair value gains on equity investments, which are excluded from adjusted net income
Returned $848 million to stockholders, including over $550 million in share repurchases; next quarterly results call scheduled for July 30, 2026
ICE reported fourth-quarter and full-year 2025 results, with full-year net revenues of $9.9 billion, up 7%, and GAAP diluted EPS of $5.77, up 21%. The company also gave 2026 guidance, including mid-single-digit growth in exchange and fixed income and data services recurring revenue, which shareholders can use to gauge its outlook.
Q4 2025 net income attributable to ICE was $851 million, up from $698 million a year earlier; Q4 GAAP diluted EPS was $1.49 versus $1.21
Full-year 2025 adjusted diluted EPS was $6.95, up 14%; GAAP operating income was $4.9 billion, up from $4.3 billion in 2024
ICE returned $2.4 billion to stockholders in 2025, including $1.3 billion in share repurchases
2026 GAAP operating expense guidance is $5.010 to $5.075 billion; 1Q26 earnings call is scheduled for April 30, 2026
Intercontinental Exchange reported third-quarter 2025 results for the quarter ended September 30, 2025, with net revenues of $2.4 billion, up 3% year over year, and GAAP diluted EPS of $1.42, up 25%. Adjusted diluted EPS was $1.71, up 10%, and the company returned over $1.7 billion to stockholders through September 30, 2025, including $894 million in share repurchases.
Q3 2025 GAAP diluted EPS was $1.42, up 25% year over year; adjusted diluted EPS was $1.71, up 10%
Q3 2025 net revenues were $2.4 billion, up 3%; operating income was $1.2 billion, up 6%
Operating cash flow through Q3 2025 was $3.4 billion; adjusted free cash flow was $3.2 billion
Updated 2025 guidance includes Fixed Income & Data Services recurring revenue growth of 5% to 6%
ICE's board appointed Lord Hill, a former European Commissioner and U.K. government official, as a director effective September 18, 2025, expanding the board to 11 members. The filing says the board determined he is not independent because he received more than $120,000 in consulting payments from ICE's Irish...
Lord Hill received £198,000 excluding VAT in 2024 and £90,000 from January 1, 2025 until the agreement ended May 19, 2025 under a consultancy agreement with ICE Futures Europe
The board determined Lord Hill is not an independent director at this time due to 2024 payments exceeding $120,000
Annual non-employee director compensation includes a $100,000 cash retainer and a $235,000 equity grant in ICE restricted stock units
Intercontinental Exchange reported second-quarter 2025 results, with record net revenues of $2.5 billion, up 10% year over year, and GAAP diluted EPS of $1.48, up 35%. The company also gave updated guidance, including full-year 2025 Exchanges recurring revenue growth of 4% to 5%, which gives shareholders a view of expected near-term results.
Q2 2025 net revenues of $2.5 billion, up 10% year over year; net income attributable to ICE was $851 million
GAAP diluted EPS of $1.48 (up 35%); adjusted diluted EPS of $1.81 (up 19%)
Third-quarter 2025 GAAP operating expenses expected at $1.245 billion to $1.255 billion
Through June 30, 2025, ICE repurchased $496 million of common stock and paid $555 million in dividends
Intercontinental Exchange reported first-quarter 2025 results for the quarter ended March 31, 2025, with net revenues of $2.5 billion, up 8% from a year earlier, and GAAP diluted earnings per share of $1.38, up 4%. Adjusted diluted EPS was $1.72, up 16%, and the company returned $519 million to stockholders through dividends and share repurchases. Shareholders also received second-quarter 2025 GAAP operating expense guidance of $1.230 billion to $1.240 billion.
Net revenues of $2.5 billion, up 8% year over year; net income attributable to ICE of $797 million.
GAAP diluted EPS of $1.38 versus $1.33 a year earlier; adjusted diluted EPS of $1.72 versus $1.48.
Returned $519 million to stockholders in the quarter, including $241 million in share repurchases and $278 million in dividends.
Mortgage technology segment posted a GAAP operating loss of $27 million; second-quarter 2025 GAAP operating expenses are expected at $1.230 billion to $1.240 billion.
Intercontinental Exchange reported fourth-quarter and full-year 2024 results, with full-year net revenues of $9.3 billion, up 16% year over year, and full-year GAAP diluted EPS of $4.78, up 14%. Fourth-quarter net income attributable to ICE rose to $698 million from $373 million a year earlier, and the company said it expects to resume share repurchases in the first quarter of 2025.
Full-year 2024 GAAP diluted EPS was $4.78, up 14%; adjusted diluted EPS was $6.07, up 8%.
Q4 2024 GAAP diluted EPS was $1.21, versus $0.65 in Q4 2023; adjusted diluted EPS was $1.52 versus $1.33.
Full-year 2024 operating cash flow was $4.6 billion and adjusted free cash flow was $3.6 billion; dividends paid exceeded $1 billion.
2025 GAAP operating expense guidance is $4.915 billion to $4.965 billion; the company expects to resume share repurchases in the first quarter.
Intercontinental Exchange reported third quarter 2024 results on October 31, 2024, with record net revenues of $2.3 billion, up 17% year over year, and GAAP diluted EPS of $1.14, up 19%. Adjusted diluted EPS was $1.55, up 6%, and the company also updated its full-year 2024 capital expenditure outlook to $700 million to $740 million. For shareholders, the headline GAAP revenue and earnings measures both grew, though adjusted EPS growth was considerably slower.
Q3 2024 net revenues of $2.3 billion, up 17% y/y; GAAP diluted EPS of $1.14, up 19% y/y
Adjusted diluted EPS of $1.55, up 6% y/y; GAAP operating income of $1.1 billion, up 31% y/y
Mortgage Technology segment posted a Q3 operating loss of $54 million on a GAAP basis
Q4 2024 GAAP operating expenses expected at $1.23 billion to $1.24 billion; full-year 2024 capex now expected at $700 million to $740 million
Intercontinental Exchange reported second quarter 2024 results, with revenues less transaction-based expenses of $2.3 billion, up 23% from a year earlier, and record operating income of $1.1 billion. GAAP diluted EPS fell to $1.10 from $1.42, while adjusted diluted EPS rose 6% to $1.52, so GAAP profit declined even as revenue grew. The company also updated its full-year and third-quarter 2024 expense guidance.
Second quarter net income attributable to ICE was $632 million, versus $799 million a year earlier.
Adjusted diluted EPS was $1.52, up 6% from $1.43; GAAP diluted EPS was $1.10, down 23%.
Updated 2024 guidance: full-year GAAP operating expenses of $4.90 billion to $4.93 billion; third-quarter GAAP operating expenses of $1.22 billion to $1.23 billion.
Operating cash flow through the second quarter was $2.2 billion; the third-quarter earnings call is scheduled for October 31, 2024.
Intercontinental Exchange entered into a Thirteenth Amendment to its existing revolving credit agreement on May 31, 2024, extending the maturity date to May 31, 2029. The $3.9 billion senior unsecured facility remains the same size, and the filing describes it as a backstop for the company's commercial paper program, so the change mainly lengthens the period over which the company can borrow under this line.
Facility size unchanged at $3.9 billion, with an option to propose an increase of up to $1.0 billion subject to lender consent
Maturity extended to May 31, 2029, the fifth anniversary of the amendment's effectiveness
Borrowings priced at term SOFR plus a ratings-based margin of 0.875% to 1.500%; undrawn fee of 0.080% to 0.200%
Wells Fargo Bank, National Association serves as administrative agent
Intercontinental Exchange completed an exchange offer on June 5, 2024, swapping $997.5 million of Black Knight InfoServ 3.625% senior notes for newly issued ICE notes maturing September 1, 2028. The new notes carry the same interest rate and payment dates as the old notes and rank equally with ICE's other unsecured obligations, so the exchange shifts debt from a subsidiary's notes to the parent company's notes without changing the interest terms in the filing.
Exchange offer expired June 3, 2024, with $997,505,000 of the $1 billion BK Notes validly tendered (about 99.75%)
ICE issued $997,501,000 in aggregate principal amount of new ICE Notes at settlement on June 5, 2024
$2,495,000 of BK Notes remain outstanding after cancellation of tendered notes
ICE Notes mature September 1, 2028, with the same interest rate and payment dates as the BK Notes
Intercontinental Exchange reported first quarter 2024 results for the quarter ended March 31, 2024, with net revenues of $2.3 billion, up 21% year over year, and GAAP diluted EPS of $1.33, up 14%. Adjusted diluted EPS was $1.48, up 5%, and the company updated its 2024 guidance, including a flat-to-down low single digit outlook for full year Mortgage Technology pro forma segment revenue growth.
Net income attributable to ICE was $767 million, versus $655 million in the first quarter of 2023.
Operating income was $1.1 billion, up 10% year over year; adjusted operating income was $1.4 billion, up 18%.
Mortgage Technology revenue was $499 million, and the company expects full year 2024 Mortgage Technology pro forma segment revenue growth of flat-to-down in the low single digit range.
Operating cash flow was $1.0 billion and adjusted free cash flow was $877 million in the first quarter.
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