Intercontinental Exchange Inc

Record Financial Performance: ICE reported full-year adjusted earnings per share of $6.07, an 8% increase year-over-year. Net revenues reached a record $9.3 billion, up 6% when pro forma adjustments for the Black Knight acquisition are considered. This strong performance reflects efficient operations and increasing trading volumes across various segments.

Positive Cash Flow and Shareholder Returns: The company generated a record $3.6 billion in free cash flow and returned $1 billion to shareholders through dividends. ICE intends to begin share repurchases in Q1 2025, having reduced leverage from 4.3 times EBITDA at the time of the Black Knight acquisition to under 3.3 times currently, with a target of approximately 3 times EBITDA expected later in the year.

Growth in Exchange Segment: The Exchange segment contributed significantly with net revenues of $1.2 billion in Q4 2024, a 9% year-over-year increase. Transaction revenues saw a 13% rise, driven by demand in Interest Rates (up 38%) and Global Energy (up 16%), indicating robust trading activity and market confidence.