ICE Intercontinental Exchange Inc

$ICE $BWET $USO ICE offering tanker derivatives contracts based on a route outside the Strait of Hormuz

$ICE reports earnings tomorrow before the open. I’m bullish heading into the report: ICE has beaten EPS estimates in 6 of its last 8 reports, according to Stock Meadow.

$ICE trimming some of my position here. It’s been a great run over the past few months.

$ICE The exchange operator had a busy quarter of its own: Intercontinental Exchange's Q3 net revenue rose 15% to $2.8B, adjusted EPS climbed 18% to $2.02, and adjusted operating margin came in at 61%.

$ICE Can ICE's 18% EPS jump hold when trading revenue, up 23%, drove about three-quarters of the growth? 🏢 Intercontinental Exchange, owner of the New York Stock Exchange and big energy futures markets, grew Q3 2026 net revenue 15% to $2,765M and adjusted diluted EPS 18% to $2.02, against a market value of about $87.56B at $155.96 a share at 16:00 ET on October 28, 2026 📈 Transaction revenue, which rises and falls with trading volumes, jumped 23% to $1,400M, and by my arithmetic it supplied about $264M of the $354M year-over-year revenue gain 📈 Recurring revenue, the steadier subscription-like half, still rose 7% to $1,365M, and ICE now guides 2026 recurring revenue growth of 9% at exchanges and 8% in fixed income and data 📅 Next: Q4 2026 earnings call on February 4th, 2027 at 8:30 a.m. ET Source: ICE Q3 release in SEC 8-K, Oct 29

$ICE reported earnings before the open: adjusted EPS of $2.02 vs. $1.97 estimated, a beat of 2.5%. I used Stock Meadow to review the results.

$ICE Q3 '26 Earnings Results & Recap • Reported GAAP EPS of $2.02 up 18.13% YoY • Reported revenue of $3.63B up 20.72% YoY • Intercontinental Exchange expects 2026 exchange and fixed income and data services recurring revenue growth of 9% and 8%, respectively; 4Q26 operating expenses are $1.32B GAAP and $1.08B non-GAAP.

$ICE 3Q26 net revenues of $2.8 billion, +15% y/y 3Q26 GAAP diluted earnings per share (EPS) of $1.67, +18% y/y 3Q26 adj. diluted EPS of $2.02, +18% y/y 3Q26 operating income of $1.4 billion, +20% y/y; adj. operating income of $1.7 billion, +19% y/y 3Q26 operating margin of 51%; adj. operating margin of 61% Through September 30, 2026, returned $2.5 billion to stockholders, including $1.6 billion in share repurchases

$ICE The casino is opened early! Longer option trading sessions for SPY, IWM, GLD, AAPL, NVDA, and many others. New early trading session will span 7:30 AM to 9:25AM EST. Late trading extended from 4PM to 4:15PM EST.