Equity Profile

ICE

Intercontinental Exchange, Inc.

FinancialsFinancial Exchanges & Data$77.9B

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Intercontinental Exchange, Inc. (ICE) operates financial exchanges and provides data services crucial for trading and investment decisions....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and financial health, which investors closely watch.

N/A

Trading Volume

Higher trading volumes typically indicate increased market activity, which can lead to higher revenues for ICE.

N/A

1 more metrics, 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 crucial for trading and investment decisions. As a key player in the financial sector, its performance is closely tied to market activity and trading volumes, making it important for investors to monitor its earnings closely.

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

Overall expectations are mixed as ICE has a strong track record of beating EPS estimates, but the stock's reaction to these beats has been muted.

Bull Case

If ICE continues to show strong trading volumes and data services growth, it could lead to significant revenue increases, driving the stock higher.

Bear Case

Conversely, if trading volumes decline or if there are concerns about market conditions, the stock could face downward pressure.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS figure for Q2-2026?

Given ICE's history of beating EPS estimates, this figure will be critical for determining market sentiment.

How has trading volume changed compared to the previous quarter?

Trading volume directly impacts revenue, and any significant changes could influence the stock's performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of increased trading volumes on ICE's earnings this quarter, especially given recent market trends.

Supporting Evidence

ICE has consistently beaten EPS estimates, indicating stronger-than-expected performance.

Options pricing suggests a significant move, which may not align with the consensus view.

Recent market activity has shown increased trading volumes, which could lead to higher revenues.

Key Risk

If trading volumes exceed expectations, it could significantly boost earnings, contradicting the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on trading volumes and profitability, which are critical for ICE's revenue.

Bull Confirmed If

An EPS of $2.40 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $2.20 would support the bear case, suggesting potential weakness in trading activity.

Pre-Earnings Positioning

Options Market

Implied Move

±11.57%

Historical Avg

±2.3%

Pricing rich

The options market is pricing in a significant potential move, suggesting that investors 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 12 of 25 (48%)

This setup has occurred 30 times across Financials in the last 2 years. 12 of 25 faded and 13 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 2.4%, with a raw directional average of -0.0% (roughly flat historical bias).

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 slight uptick, confirming strong market conditions.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline in stock price, with historical patterns suggesting an average drop of around 2.09%.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·1 sell

Members

House only

Est. Notional

$2,002.00–$30,000.00

disclosed dollar ranges

Most Active Members

R-LAJulia LetlowRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on trading volume trends compared to the previous quarter.
2Insights into the performance of data services revenue.
3Management's outlook on market conditions for the upcoming quarter.
4Any commentary on cost management and operational efficiency.
5Details on competitive positioning within the financial exchanges sector.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Intercontinental Exchange, Inc. (ICE) operates financial exchanges and provides data services crucial for trading and investment decisions....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and financial health, which investors closely watch.

N/A

Trading Volume

Higher trading volumes typically indicate increased market activity, which can lead to higher revenues for ICE.

N/A

1 more metrics, 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

Overall expectations are mixed as ICE has a strong track record of beating EPS estimates, but the stock's reaction to these beats has been muted.

Bull Case

If ICE continues to show strong trading volumes and data services growth, it could lead to significant revenue increases, driving the stock higher.

Bear Case

Conversely, if trading volumes decline or if there are concerns about market conditions, the stock could face downward pressure.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS figure for Q2-2026?

Given ICE's history of beating EPS estimates, this figure will be critical for determining market sentiment.

How has trading volume changed compared to the previous quarter?

Trading volume directly impacts revenue, and any significant changes could influence the stock's performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of increased trading volumes on ICE's earnings this quarter, especially given recent market trends.

Supporting Evidence

ICE has consistently beaten EPS estimates, indicating stronger-than-expected performance.

Options pricing suggests a significant move, which may not align with the consensus view.

Recent market activity has shown increased trading volumes, which could lead to higher revenues.

Key Risk

If trading volumes exceed expectations, it could significantly boost earnings, contradicting the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on trading volumes and profitability, which are critical for ICE's revenue.

Bull Confirmed If

An EPS of $2.40 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $2.20 would support the bear case, suggesting potential weakness in trading activity.

Pre-Earnings Positioning

Options Market

Implied Move

±11.57%

Historical Avg

±2.3%

Pricing rich

The options market is pricing in a significant potential move, suggesting that investors 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 12 of 25 (48%)

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 slight uptick, confirming strong market conditions.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline in stock price, with historical patterns suggesting an average drop of around 2.09%.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·1 sell

Members

House only

Est. Notional

$2,002.00–$30,000.00

disclosed dollar ranges

Most Active Members

R-LAJulia LetlowRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on trading volume trends compared to the previous quarter.
2Insights into the performance of data services revenue.
3Management's outlook on market conditions for the upcoming quarter.
4Any commentary on cost management and operational efficiency.
5Details on competitive positioning within the financial exchanges sector.