Highest-materiality recent filing
ICE amends revolver, adds $2B term loan, cuts bridge to $0 for MarketAxess deal
Fourteenth Amendment extends revolver maturity to Aug 20, 2031 for consenting lenders ($3.67B commitments); total revolver stays $3.9B.
ICE raises $3.75B in four-tranche notes offering to fund MarketAxess acquisition
Completed $3.75B notes offering: $1.25B 4.700% due 2029, $1.1B 4.900% due 2031, $650M 5.150% due 2033, $750M 5.400% due 2036.
ICE to acquire MarketAxess for $167/share cash; $6.25B bridge financing arranged
Merger consideration: $167.00 per share in cash for each MarketAxess share.
ICE Q2 revenue $2.7B (+5% y/y), adj. EPS $1.90 (+5% y/y), buyback raised to $4.0B
Q2 GAAP diluted EPS $1.69 (+14% y/y); adjusted diluted EPS $1.90 (+5% y/y); net income $958M.
ICE reports record Q1: rev $3.0B (+20%), GAAP EPS $2.48, adj EPS $2.35
GAAP diluted EPS $2.48 (+80% YoY); adjusted diluted EPS $2.35 (+37% YoY).
ICE reports record FY2025 revenue $9.9B, adj. EPS $6.95 (+14%)
Full-year net revenue $9.9B (+7% YoY); GAAP diluted EPS $5.77 (+21%); adj. diluted EPS $6.95 (+14%).
ICE Q3 net revenues $2.4B (+3%); adj. EPS $1.71 (+10%); invests in Polymarket
GAAP diluted EPS $1.42 (+25% YoY); adjusted diluted EPS $1.71 (+10% YoY).
ICE to invest up to $2B in Polymarket, become global distributor of event data
$2B investment at ~$8B pre-money valuation; ICE to distribute Polymarket's event-driven data to institutional clients.
ICE reports record Q2 2025 revenues of $2.5B; adjusted EPS $1.81 (+19% YoY)
Record net revenues of $2.5B, up 10% YoY; GAAP diluted EPS $1.48 (+35% YoY).
ICE Q1 record net rev $2.5B (+8% YoY); adj EPS $1.72 (+16% YoY)
GAAP diluted EPS $1.38 (+4% YoY); adjusted diluted EPS $1.72 (+16% YoY).
ICE reports record FY2024 revenue $9.3B (+16% YoY); GAAP EPS $4.78 (+14%)
Full-year 2024 net revenues $9.3B (+16% YoY); GAAP diluted EPS $4.78 (+14% YoY).
ICE Q3 2024 record net revenues $2.3B (+17% YoY); GAAP EPS $1.14 (+19%)
Record consolidated net revenues of $2.3B, up 17% YoY; net income $657M.
ICE reports Q2 2024 record net revenues of $2.3B, up 23% y/y; adj. EPS $1.52
Record Q2 2024 net revenues $2.3B, +23% YoY; GAAP diluted EPS $1.10 (down 23% YoY).
ICE reports record Q1 2024 revenues of $2.3B, +21% YoY; GAAP EPS $1.33
GAAP diluted EPS of $1.33 (+14% YoY); adj. diluted EPS of $1.48 (+5% YoY).
ICE reports record FY2023 revenues $8.0B (+10%); GAAP EPS $4.19 (+62%), adj. $5.62
FY2023 net revenues $8.0B, +10% YoY (18th consecutive record year).
ICE reports record Q3 2023 revenues of $2.0B (+11% YoY); adj. EPS $1.46
GAAP diluted EPS of $0.96; adjusted diluted EPS of $1.46, up 10% YoY.
ICE completes sale of Optimal Blue and Empower LOS to Constellation Software per FTC condition
Sale of Optimal Blue and Empower LOS businesses to Constellation Software Inc. closed Sept 15, 2023.
Acquisition completed Sep 5, 2023; total consideration ~$11.9B ($10.505B cash + ~10.9M ICE shares).
ICE and Black Knight enter FTC consent order; acquisition expected to close Sept 5
ICE and Black Knight signed Agreement Containing Consent Orders with FTC; consent order to be submitted for approval.
ICE, Black Knight reach timing agreement with FTC; dismissed federal lawsuit
FTC, ICE and Black Knight jointly dismissed federal lawsuit and dissolved temporary restraining order blocking the acquisition.
ICE Q2 net rev $1.9B +4% YoY; GAAP EPS $1.42 +43%; adj EPS $1.43 +8%
Net revenues $1.9B, +4% YoY; GAAP diluted EPS $1.42 (+43% YoY); adj. diluted EPS $1.43 (+8% YoY).
ICE and Black Knight agree to sell Optimal Blue to Constellation for $700M to address FTC concerns
Purchase price $700M: $200M cash plus $500M promissory note at 7% interest, maturing in 40 years.
ICE reports Q1 2023 net revenue $1.9B, adj EPS $1.41, record fixed income & data
Net revenues $1.9B; recurring revenues +4% year-over-year.
FTC sues to block ICE's acquisition of Black Knight; ICE vows to fight
FTC filed administrative complaint on March 9, 2023 challenging ICE's proposed acquisition of Black Knight.
Revised consideration $75/share ($68 cash per share plus stock with 0.0682 exchange ratio, VWAP $102.62).
Intercontinental Exchange 2022 record revenue $7.3B, adj. EPS $5.30 +5%, dividend +11%
Record full-year net revenues $7.3B, +2% YoY; GAAP diluted EPS $2.58, down 64% YoY from Bakkt losses & Coinbase divestment.
ICE reports 3Q22 adjusted EPS $1.31, net revenues $1.8B (+1% YoY); GAAP loss $0.34 due to Bakkt
Net revenues $1.8B (+1% YoY, +3% constant currency); GAAP net loss $191M ($0.34 loss per share) due to Bakkt losses.
ICE cuts carrying value of Bakkt investment to ~$400M from $1.5B on impairment
Bakkt expects goodwill impairment of $1.3-1.4B and intangible asset impairment of $150-160M for Q3 2022.
ICE amends charter and bylaws: lowers special-meeting threshold to 20%, removes supermajority voting
Stockholders with at least 20% of shares can now call a special meeting, down from 50%.
ICE Q2 2022: net rev $1.8B (+6% YoY), adj. EPS $1.32 (+14% YoY)
GAAP diluted EPS $0.99, down 55% YoY due to $1.23B pre-tax gain from Coinbase divestiture in 2Q21.
ICE increases revolver to $3.9B, adds $2.4B term loan for Black Knight purchase
Revolving credit facility increased from $3.775B to $3.9B; maturity extended to May 25, 2027.
Completed offering of $8.0B aggregate principal in six tranches: 2025, 2027, 2029, 2033, 2052, and 2062 notes, with coupons from 3.65% to 5.20%.
Christopher S. Edmonds, currently ICE’s Chief Development Officer, will become President, Fixed Income and Data Services, effective as of January 1, 2024.
On March 14, 2022, in connection with Mr. Goone’s retirement, ICE entered into a Transition and Separation Agreement with Mr. Goone (the “Separation Agreement”), pursuant to which Mr. Goone will serve as Advisor to the Chief Executive Officer, effective March 16, 2022.
Effective March 4, 2022, the Board of Directors (the “Board”) of Intercontinental Exchange, Inc. (“ICE”) increased the size of the Board from 12 to 13 directors pursuant to the provisions of ICE’s bylaws and appointed Martha Tirinnanzi as a director of ICE.
On February 22, 2022, Intercontinental Exchange, Inc. (“ICE”) announced that David S. Goone, 61, Chief Strategy Officer of ICE, plans to retire as Chief Strategy Officer and no longer serve as an executive officer of ICE effective as of March 15, 2022.
Max materiality 0.90 · Median 0.70 · Most common event earnings