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Research Alert: Ice Q1 Earnings Beat As Volatility Leads To A Surge In Exchange Revenues

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

ICE delivered exceptional Q1 2026 results with operating EPS of $2.35 vs. $1.72 the prior year, beating consensus by $0.09, while net revenue of $2.98B rose 20% Y/Y and beat estimates by 1%. This marks ICE's first double-digit revenue growth quarter since 2021, demonstrating the company's strong resilience during periods of heightened market volatility. We believe quarters like this showcase ICE's portfolio strength as geopolitical uncertainty drove significant margin expansion and record earnings performance. The Exchange segment surged 30% to $1.8B, led by energy revenues jumping 46% to $814M due to ongoing geopolitical tensions and global supply chain disruptions. Operating margin expanded a remarkable 420 bps to 65.2%, reflecting ICE's substantial operating leverage during volatile market periods. The company returned $848M to shareholders through $551M in buybacks and $297M in dividends while maintaining $863M in unrestricted cash, positioning ICE well for continued growth.

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