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, playing a crucial role in global financial markets....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company has managed costs and revenue.

N/A

Trading Volume

Higher trading volumes can indicate increased market activity and demand for ICE's services, which could positively impact revenue.

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, playing a crucial role in global financial markets. With a market cap of $78 billion, ICE is significant in sectors like trading and risk management, especially as market dynamics evolve.

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, investors are cautiously optimistic ahead of ICE's earnings report, given its strong EPS track record. However, the lack of analyst estimates adds uncertainty.

Bull Case

If ICE continues its trend of beating EPS estimates, it could signal strong operational performance and market confidence, potentially driving the stock higher.

Bear Case

Conversely, if the company fails to meet expectations or if trading volumes decline, it could lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported trading volume for the quarter?

Trading volume directly impacts revenue and profitability, making it a key metric for assessing ICE's performance.

How has revenue from data services changed compared to previous quarters?

Changes in data services revenue can indicate shifts in market demand and the company's ability to capitalize on its data offerings.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the potential for growth in ICE's data services, which could outperform expectations due to increased demand for analytics.

Supporting Evidence

ICE has a strong track record of beating EPS estimates, with an 88% success rate over the last eight quarters.

The options market is pricing in a significant move, indicating that traders expect volatility, which could favor a positive outcome.

Recent trends in trading volumes suggest a rebound in market activity, which could positively impact revenue.

Key Risk

If trading volume comes in below expectations, it could undermine the positive narrative around data services growth.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the company's ability to maintain growth in a challenging market environment.

Bull Confirmed If

A trading volume increase of over 10% year-over-year would confirm strong market demand.

Bear Confirmed If

A decline in data services revenue compared to the previous quarter would raise concerns about future growth.

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 performance.

In-Line / Cautious

If results are in line but management expresses caution, the stock may remain flat as investors reassess future growth prospects.

Miss

Should ICE miss expectations, history indicates a potential decline in stock price, reflecting investor disappointment.

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 last quarter.
2Insights into the performance of data services revenue.
3Management's outlook on market conditions for the upcoming quarters.
4Comments on competitive pressures in the financial exchange sector.
5Any strategic initiatives that may impact future growth.

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, playing a crucial role in global financial markets....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company has managed costs and revenue.

N/A

Trading Volume

Higher trading volumes can indicate increased market activity and demand for ICE's services, which could positively impact revenue.

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, investors are cautiously optimistic ahead of ICE's earnings report, given its strong EPS track record. However, the lack of analyst estimates adds uncertainty.

Bull Case

If ICE continues its trend of beating EPS estimates, it could signal strong operational performance and market confidence, potentially driving the stock higher.

Bear Case

Conversely, if the company fails to meet expectations or if trading volumes decline, it could lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported trading volume for the quarter?

Trading volume directly impacts revenue and profitability, making it a key metric for assessing ICE's performance.

How has revenue from data services changed compared to previous quarters?

Changes in data services revenue can indicate shifts in market demand and the company's ability to capitalize on its data offerings.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the potential for growth in ICE's data services, which could outperform expectations due to increased demand for analytics.

Supporting Evidence

ICE has a strong track record of beating EPS estimates, with an 88% success rate over the last eight quarters.

The options market is pricing in a significant move, indicating that traders expect volatility, which could favor a positive outcome.

Recent trends in trading volumes suggest a rebound in market activity, which could positively impact revenue.

Key Risk

If trading volume comes in below expectations, it could undermine the positive narrative around data services growth.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the company's ability to maintain growth in a challenging market environment.

Bull Confirmed If

A trading volume increase of over 10% year-over-year would confirm strong market demand.

Bear Confirmed If

A decline in data services revenue compared to the previous quarter would raise concerns about future growth.

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 performance.

In-Line / Cautious

If results are in line but management expresses caution, the stock may remain flat as investors reassess future growth prospects.

Miss

Should ICE miss expectations, history indicates a potential decline in stock price, reflecting investor disappointment.

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 last quarter.
2Insights into the performance of data services revenue.
3Management's outlook on market conditions for the upcoming quarters.
4Comments on competitive pressures in the financial exchange sector.
5Any strategic initiatives that may impact future growth.