Equity Profile

ICE

Intercontinental Exchange, Inc.

FinancialsFinancial Exchanges & Data$87.2B

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Intercontinental Exchange, Inc. (ICE) operates financial exchanges and provides data services, playing a critical role in global financial markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of the company's profitability and financial health.

1.86

Revenue

Total revenue reflects the company's ability to generate income from its operations, crucial for assessing growth.

2.7B

Wall Street expectations, options signals, track record, and call prep available with Pro.

ICE Q2-2026 Earnings Preview

Context

Company Snapshot

Intercontinental Exchange, Inc. (ICE) operates financial exchanges and provides data services, playing a critical role in global financial markets. With a market cap of $87 billion, ICE facilitates trading and clearing across various asset classes, making it essential for investors and institutions alike.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+1.14%

Avg Stock Reaction

+0.09%

Last Quarter Recap

In Q1-2026, ICE reported an EPS of $2.35, exceeding expectations by 3.71%. The stock reacted positively, gaining 1.22% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect ICE to report solid earnings this quarter, with a consensus EPS of $1.86. The market is closely watching how the company navigates current economic conditions.

Bull Case

If ICE meets or exceeds EPS expectations, it could signal strong operational performance and continued market leadership, potentially driving the stock higher.

Bear Case

Conversely, if the company misses EPS estimates, it may raise concerns about its growth prospects and market position, leading to a negative stock reaction.

Key Metrics to Watch

EPS

1.86

Earnings per share is a key indicator of the company's profitability and financial health.

Revenue

2.7B

Total revenue reflects the company's ability to generate income from its operations, crucial for assessing growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will EPS meet or exceed the consensus estimate of $1.86?

This number is crucial as it directly impacts investor sentiment and stock performance.

What insights can management provide regarding revenue growth amidst current market conditions?

Understanding revenue trends will help gauge the company's ability to sustain growth in a competitive environment.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate ICE's ability to leverage its data services for revenue growth, given the increasing demand for financial data analytics.

Supporting Evidence

ICE's recent performance shows a strong track record of beating EPS estimates, suggesting operational resilience.

The options market indicates a higher-than-average expected move, reflecting uncertainty that may not be fully priced into the stock.

Historical trends show that ICE often rebounds after initial earnings misses, indicating potential for recovery.

Key Risk

If revenue growth exceeds expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will be pivotal in determining whether ICE can maintain its growth momentum in a challenging market.

Bull Confirmed If

An EPS of $1.90 or higher would confirm strong operational performance.

Bear Confirmed If

An EPS below $1.81 would raise concerns about the company's growth trajectory.

Pre-Earnings Positioning

Options Market

Implied Move

±11.57%

Historical Avg

±2.3%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±11.6% while ICE has averaged ±2.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

16.1%

Calls (22K)P/C Ratio: 2.42Puts (19K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ICE beats expectations, history suggests the stock could see a modest increase, confirming strong operational health.

In-Line / Cautious

An inline report may lead to a cautious market reaction, with investors weighing management's commentary on future growth.

Miss

If ICE misses estimates, the average historical reaction indicates a potential decline in stock price.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new data service offerings and their expected impact on revenue.
2Management's outlook on trading volumes and market conditions.
3Insights into cost management and operational efficiency improvements.
4Details on competitive positioning against other exchanges.
5Any commentary on regulatory changes affecting the industry.

See the full picture

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Company Snapshot

Intercontinental Exchange, Inc. (ICE) operates financial exchanges and provides data services, playing a critical role in global financial markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of the company's profitability and financial health.

1.86

Revenue

Total revenue reflects the company's ability to generate income from its operations, crucial for assessing growth.

2.7B

Wall Street expectations, options signals, track record, and call prep available with Pro.

ICE Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+1.14%

Avg Stock Reaction

+0.09%

Last Quarter Recap

In Q1-2026, ICE reported an EPS of $2.35, exceeding expectations by 3.71%. The stock reacted positively, gaining 1.22% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect ICE to report solid earnings this quarter, with a consensus EPS of $1.86. The market is closely watching how the company navigates current economic conditions.

Bull Case

If ICE meets or exceeds EPS expectations, it could signal strong operational performance and continued market leadership, potentially driving the stock higher.

Bear Case

Conversely, if the company misses EPS estimates, it may raise concerns about its growth prospects and market position, leading to a negative stock reaction.

Key Metrics to Watch

EPS

1.86

Earnings per share is a key indicator of the company's profitability and financial health.

Revenue

2.7B

Total revenue reflects the company's ability to generate income from its operations, crucial for assessing growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will EPS meet or exceed the consensus estimate of $1.86?

This number is crucial as it directly impacts investor sentiment and stock performance.

What insights can management provide regarding revenue growth amidst current market conditions?

Understanding revenue trends will help gauge the company's ability to sustain growth in a competitive environment.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate ICE's ability to leverage its data services for revenue growth, given the increasing demand for financial data analytics.

Supporting Evidence

ICE's recent performance shows a strong track record of beating EPS estimates, suggesting operational resilience.

The options market indicates a higher-than-average expected move, reflecting uncertainty that may not be fully priced into the stock.

Historical trends show that ICE often rebounds after initial earnings misses, indicating potential for recovery.

Key Risk

If revenue growth exceeds expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will be pivotal in determining whether ICE can maintain its growth momentum in a challenging market.

Bull Confirmed If

An EPS of $1.90 or higher would confirm strong operational performance.

Bear Confirmed If

An EPS below $1.81 would raise concerns about the company's growth trajectory.

Pre-Earnings Positioning

Options Market

Implied Move

±11.57%

Historical Avg

±2.3%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±11.6% while ICE has averaged ±2.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

16.1%

Calls (22K)P/C Ratio: 2.42Puts (19K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ICE beats expectations, history suggests the stock could see a modest increase, confirming strong operational health.

In-Line / Cautious

An inline report may lead to a cautious market reaction, with investors weighing management's commentary on future growth.

Miss

If ICE misses estimates, the average historical reaction indicates a potential decline in stock price.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new data service offerings and their expected impact on revenue.
2Management's outlook on trading volumes and market conditions.
3Insights into cost management and operational efficiency improvements.
4Details on competitive positioning against other exchanges.
5Any commentary on regulatory changes affecting the industry.