Intercontinental Exchange Inc

ICE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$113.00	Kwxp	Rhysjyqb

Intercontinental Exchange Earnings: Strong Energy Futures Revenue Offsets Ongoing Mortgage Weakness

Michael Miller

Aug 1, 2024

Wide-moat-rated Intercontinental Exchange reported solid second-quarter earnings, as continued strength in futures trading drove results higher. Net revenue increased 23%, or 7% pro forma for the acquisition of Black Knight, to $2.3 billion. Adjusted diluted EPS grew 6% to $1.52. As we incorporate these results, we do not plan to materially alter our $140 per share fair value estimate.

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