Intercontinental Exchange (ICE) reported record first quarter 2025 results, with net revenues of $2.47 billion, up 8 percent from the prior year.

Net income attributable to ICE was $797 million, and GAAP diluted earnings per share were $1.38, up 4 percent year-over-year. Adjusted net income reached $995 million, with adjusted diluted EPS of $1.72, reflecting a 16 percent increase. Operating income was a record $1.22 billion, with a 49 percent margin, while adjusted operating income was $1.51 billion with a 61 percent margin.

Segment results showed strong performance in Exchanges, which generated $1.37 billion in revenue, up 12 percent, driven by strength in energy, financials, and equity markets. Adjusted operating margin for the segment was 76 percent. Fixed Income and Data Services brought in $596 million, up 5 percent, with an adjusted margin of 46 percent. Mortgage Technology revenue rose 2 percent to $510 million, with an adjusted operating margin of 40 percent, although the segment recorded a GAAP operating loss of $27 million due to amortization and integration costs.

ICE returned $519 million to shareholders through $241 million in share repurchases and $278 million in dividends. Operating cash flow for the quarter was $966 million, with adjusted free cash flow of $833 million. As of March 31, 2025, the company held $783 million in cash and had total debt of $20.3 billion.

For Q2 2025, ICE expects GAAP operating expenses of $1.230 to $1.240 billion and adjusted operating expenses of $980 to $990 million. The expected diluted share count is between 573 million and 579 million.

ICE and Circle Sign Agreement to Explore Financial Innovation Using USDC and USYC Stablecoins

Intercontinental Exchange Inc. (NYSE: ICE) and Circle Internet Group, Inc. announced a memorandum of understanding (MoU) to explore joint development of new financial products based on Circle’s digital assets: USDC (USD Coin) and USYC (US Yield Coin). The initiative aims to bring stablecoin-based innovation to ICE’s global network of markets and services.

According to Circle, USDC — a fully reserved, dollar-pegged stablecoin — has over $60 billion in circulation as of March 26, 2025. The coin is backed by liquid assets and is redeemable 1:1 for U.S. dollars. USYC, meanwhile, represents a tokenized money market offering.

Lynn Martin, President of the New York Stock Exchange, emphasized that digital currencies like USDC and USYC could gain broader acceptance as reliable dollar equivalents within capital markets. ICE and Circle plan to examine integration opportunities across derivatives exchanges, clearinghouses, and data services.

Circle CEO Jeremy Allaire highlighted ICE’s reach as a pathway to major new use cases for stablecoins, reinforcing Circle’s goal to expand digital finance through trusted infrastructure and partnerships.

This collaboration builds on Circle’s growing network of applications for USDC and reflects ICE’s commitment to exploring digital transformation in finance.

Intercontinental Exchange reported that the average annual property insurance premium for mortgaged single-family homes rose by $276 (14%) to $2,290 in 2024, marking a 61% increase over five years. Seattle, Salt Lake City, and Los Angeles saw the highest percentage increases at 22% and 20%, while Dallas and Houston had the largest dollar increases at $606 and $515.

Florida’s insurance costs rose at less than half the national average but remain among the highest in the country. A record 11.4% of borrowers switched insurance providers in 2024, up from 9.4% in 2023, likely due to rising non-renewals and cost-cutting efforts. Miami, New Orleans, and Orlando had the highest switch rates at 24% and 23%.

Many homeowners are opting for higher deductibles to reduce premium costs. Borrowers taking out mortgages in 2024 had 19% higher deductibles ($390 more) and 12% lower annual premiums ($284 less) compared to the market average.

ICE’s data suggests an increasing opportunity for lenders and servicers to offer integrated insurance comparison tools to help homeowners navigate rising costs. The full report is available on ICE Mortgage Tech’s website.

Intercontinental Exchange (ICE) has announced that its global futures and options markets reached record open interest of over 100 million contracts on February 20, 2025, marking an 11% year-over-year increase.

Key highlights:
- Record open interest in ICE’s global commodities markets at 68.7 million contracts, with 65.3 million in energy-related contracts.
- Record open interest in total natural gas futures and options at 43.8 million contracts, including 37.9 million in North American natural gas futures and options.
- Record open interest in ICE Henry Hub futures at 8.7 million contracts.
- On February 19, 2025, ICE recorded the highest-ever trading volume in total natural gas futures and options at 3.2 million contracts, surpassing the previous record set in 2012.

Jeffrey C. Sprecher, ICE Chair and CEO, emphasized the company’s mission to make markets more transparent and accessible, noting that ICE has built the world's largest energy exchange and clearinghouse as part of its broader network of markets and financial infrastructure.

source: Intercontinental Exchange, February 25, 2025.

Intercontinental Exchange (NYSE: ICE) reported strong financial results for the full year and fourth quarter of 2024, marking its 19th consecutive year of record revenues. The company posted net revenues of $9.3 billion for the year, a 16% increase year-over-year (y/y). ICE's Chairman and CEO, Jeffrey C. Sprecher, highlighted the company's ability to deliver growth through its "all-weather" business model, which continues to perform well across various macroeconomic environments.

Key Highlights for Full Year 2024:
- GAAP diluted earnings per share (EPS) increased 14% y/y to $4.78.
- Adjusted diluted EPS grew 8% y/y to $6.07.
- Operating income reached a record $4.3 billion, a 17% increase y/y, with adjusted operating income of $5.5 billion, up 16% y/y.
- Operating margin was 46%, and adjusted operating margin was 59%.
- The company achieved record operating cash flow of $4.6 billion, up 30% y/y, and record adjusted free cash flow of over $3.6 billion, a 13% increase y/y.
- ICE expects to resume share repurchases in the first quarter of 2025.

For the Fourth Quarter of 2024:
- Consolidated net income attributable to ICE was $698 million, with $2.3 billion in revenues.
- GAAP diluted EPS for the quarter was $1.21, and adjusted diluted EPS was $1.52.
- Adjusted net income attributable to ICE for the quarter was $875 million.

ICE's strong cash flows enabled the company to reinvest in its business, pay over $1 billion in dividends to stockholders, and reduce leverage significantly. As the company moves into 2025, it is well-positioned to continue its growth trajectory and invest in further strengthening its business.