Every material Form 8-K Intercontinental Exchange filed with the SEC in 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 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.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Intercontinental Exchange filing is on SEC EDGAR ↗. 8-K briefs of other companies →