Intercontinental Exchange Posts Record Third-Quarter Net Revenue of $2.765 Billion: Net Income $940 Million, Adjusted EPS $2.02
Intercontinental Exchange (NYSE: ICE), the parent of the New York Stock Exchange, reported third-quarter 2026 results on October 29, with net revenues of $2.765 billion, up 15% year over year and a third-quarter record, and net income attributable to ICE of $940 million.
GAAP diluted earnings per share were $1.67. Adjusted net income attributable to ICE was $1.1 billion and adjusted diluted EPS were $2.02, up 18%. Operating income was $1.410 billion, up 20%, for an operating margin of 51% and an adjusted operating margin of 61%.
By segment, exchange net revenues were $1.542 billion, with energy revenues of $603 million, up 25%, agriculture and metals up 62% and financials up 37%. Fixed income and data services revenues were $674 million, up 9%, and mortgage technology revenues were $549 million, up 4%. Recurring revenues rose 7% to $1.365 billion, while transaction revenues, net, rose 23% to $1.400 billion.
Through the first nine months of 2026, ICE returned a record $2.5 billion to stockholders, including $1.6 billion of share repurchases, and paid $884 million in dividends. Unrestricted cash was $936 million and outstanding debt was $23.3 billion as of September 30, 2026.
On October 21, 2026, the Department of Justice and the Federal Trade Commission granted early termination of the antitrust waiting period for ICE's acquisition of MarketAxess Holdings, satisfying one closing condition. ICE now expects the merger to close in the first quarter of 2027, ahead of the first-half 2027 timeline announced in July.
Chief Financial Officer Warren Gardiner said the company delivered record revenues, adjusted operating income and adjusted earnings per share through the first nine months, and that its strong and growing cash flows enabled record capital returns while it continues to invest in strategic growth initiatives. ICE guided to 2026 exchange recurring revenue growth of 9% and fixed income and data services recurring revenue growth of about 8%.
Source: GSM · USA (original Chinese edition)
Photo: 图：纽约证券交易所大楼正立面（洲际交易所旗下）。Another Believer 摄，经 Wikimedia Commons，CC BY-SA 4.0。 / Photo: Facade of the New York Stock Exchange, owned by Intercontinental Exchange. By Another Believer, via Wikimedia Commons, CC BY-SA 4.0.
