CME Group Inc. Reports All-Time Record Revenue of $1.5 Billion for Q2 2024
CME Group reported record-breaking financial results for Q2 2024, with revenue reaching $1.5 billion and operating income of $1.0 billion. The company achieved net income of $883 million and diluted earnings per share of $2.42. On an adjusted basis, net income was $932 million with diluted EPS of $2.56.
Highlights include:
- Record Q2 average daily volume (ADV) of 26 million contracts
- Year-over-year growth across all asset classes
- Non-U.S. ADV reached a record 7.8 million contracts
- U.S. Treasury products ADV increased 36% to 8.2 million contracts
The company paid dividends of approximately $419 million during Q2 and has returned about $25.2 billion to shareholders since 2012.
CME Group ha riportato risultati finanziari da record per il secondo trimestre del 2024, con entrate che hanno raggiunto 1,5 miliardi di dollari e reddito operativo di 1,0 miliardo di dollari. L'azienda ha ottenuto un utile netto di 883 milioni di dollari e utile per azione diluito di 2,42 dollari. Su base rettificata, l'utile netto è stato di 932 milioni di dollari con un EPS diluito di 2,56 dollari.
I punti salienti includono:
- Record di volume medio giornaliero (ADV) nel secondo trimestre di 26 milioni di contratti
- Crescita anno su anno in tutte le classi di attivi
- ADV non statunitensi ha raggiunto un record di 7,8 milioni di contratti
- ADV dei prodotti del Tesoro statunitense è aumentato del 36% a 8,2 milioni di contratti
L'azienda ha pagato dividendi per circa 419 milioni di dollari durante il secondo trimestre e ha restituito circa 25,2 miliardi di dollari agli azionisti dal 2012.
CME Group reportó resultados financieros récord para el segundo trimestre de 2024, con ingresos de 1.5 mil millones de dólares y ingresos operativos de 1.0 mil millones de dólares. La compañía alcanzó un ingreso neto de 883 millones de dólares y ganancias diluidas por acción de 2.42 dólares. En base ajustada, el ingreso neto fue de 932 millones de dólares con EPS diluido de 2.56 dólares.
Los aspectos destacados incluyen:
- Volumen diario promedio (ADV) récord de 26 millones de contratos en el segundo trimestre
- Crecimiento interanual en todas las clases de activos
- ADV no estadounidense alcanzó un récord de 7.8 millones de contratos
- El ADV de productos del Tesoro de EE. UU. aumentó un 36% a 8.2 millones de contratos
La empresa pagó dividendos de aproximadamente 419 millones de dólares durante el segundo trimestre y ha devuelto alrededor de 25.2 mil millones de dólares a los accionistas desde 2012.
CME 그룹은 2024년 2분기 기록적인 재무 결과를 발표했습니다. 수익이 15억 달러에 달했으며 운영 수익이 10억 달러에 달했습니다. 회사는 순이익이 8억 8300만 달러와 희석주당순이익이 2.42달러를 달성했습니다. 조정 기준으로도 순이익은 9억 3200만 달러, 희석 EPS는 2.56달러로 나타났습니다.
주요 내용은 다음과 같습니다:
- 2분기 평균 일일 거래량(ADV) 2600만 계약의 기록
- 모든 자산 클래스에서 전년 대비 성장
- 비 미국 ADV는 780만 계약으로 기록 달성
- 미국 국채 상품 ADV는 36% 증가하여 820만 계약에 이르렀습니다.
회사는 2분기 동안 약 4억 1900만 달러의 배당금을 지급하였으며, 2012년 이후 주주에게 약 252억 달러를 반환했습니다.
CME Group a annoncé des résultats financiers record pour le deuxième trimestre de 2024, avec des revenus atteignant 1,5 milliard de dollars et un résultat opérationnel de 1,0 milliard de dollars. L'entreprise a réalisé un bénéfice net de 883 millions de dollars et un bénéfice par action dilué de 2,42 dollars. Sur une base ajustée, le bénéfice net était de 932 millions de dollars avec un BPA dilué de 2,56 dollars.
Les points forts incluent :
- Un volume quotidien moyen (ADV) record de 26 millions de contrats au deuxième trimestre
- Croissance d'une année sur l'autre dans toutes les classes d'actifs
- ADV non américain atteignant un record de 7,8 millions de contrats
- L'ADV des produits du Trésor américain a augmenté de 36 % pour atteindre 8,2 millions de contrats
L'entreprise a versé des dividendes d'environ 419 millions de dollars au cours du deuxième trimestre et a restitué environ 25,2 milliards de dollars aux actionnaires depuis 2012.
CME Group meldete für das zweite Quartal 2024 Rekordergebnisse, mit Einnahmen von 1,5 Milliarden US-Dollar und Betriebsergebnis von 1,0 Milliarden US-Dollar. Das Unternehmen erzielte einen Nettogewinn von 883 Millionen US-Dollar und verwässerte Erträge pro Aktie von 2,42 US-Dollar. Auf adjustierter Basis betrug der Nettogewinn 932 Millionen US-Dollar bei einem verwässerten EPS von 2,56 US-Dollar.
Wichtige Highlights sind:
- Rekorddurchschnittsvolumen (ADV) im 2. Quartal von 26 Millionen Verträgen
- Jahr-über-Jahr-Wachstum in allen Anlageklassen
- Das ADV außerhalb der USA erreichte einen Rekord von 7,8 Millionen Verträgen
- Das ADV von US-Staatsanleihen stieg um 36 % auf 8,2 Millionen Verträge
Das Unternehmen zahlte im 2. Quartal Dividenden von etwa 419 Millionen US-Dollar und hat seit 2012 rund 25,2 Milliarden US-Dollar an die Aktionäre zurückgegeben.
- Record quarterly revenue of $1.5 billion
- Adjusted net income of $932 million
- Adjusted diluted EPS of $2.56
- Record Q2 average daily volume of 26 million contracts
- Year-over-year growth across all asset classes
- Non-U.S. ADV reached a record 7.8 million contracts
- U.S. Treasury products ADV increased 36% to 8.2 million contracts
- None.
The recent financial performance of CME Group Inc. is indeed impressive and indicative of strong operational execution. The all-time record revenue of $1.5 billion is a significant milestone, signaling robust growth and strong demand across all asset classes. The key driver here is the record-breaking average daily volume (ADV) of 26 million contracts, which is the highest in the company’s history.
From a financial health perspective, the company reported a net income of $883 million, which, on an adjusted basis, rises to $932 million. This adjusted figure is important as it removes one-time items, providing a clearer picture of ongoing profitability. The adjusted EPS of $2.56 also underscores the company's strong earnings potential.
What stands out is the substantial year-over-year growth across every asset class. For example, the significant increase in U.S. Treasury products ADV by
The company's substantial cash reserves of
CME Group’s performance this quarter highlights its strategic positioning within the global derivatives marketplace. The growth in every asset class and the highest Q2 ADV in company history reflect strong market demand and effective client engagement strategies. The firm’s ability to capture a 16% increase in commodities ADV and a 13% rise in financial markets ADV suggests that investors are increasingly relying on CME Group’s comprehensive product offerings for hedging and speculative purposes.
The company's initiatives, like bringing new products to market and enhancing value through innovation, are pivotal. The mention of a partnership with Google Cloud hints at a forward-thinking approach to technology adoption, which could streamline operations and reduce latency in trade executions, ultimately attracting more participants.
In terms of market data revenue, which totaled
The incorporation of technology into CME Group’s operations is worth noting. The partnership with Google Cloud is a strategic move that can enhance the company’s capabilities in data processing, analytics and client services. Cloud infrastructure can significantly reduce processing times for large volumes of transactions, which is critical in a high-frequency trading environment.
The technological advancements also mean better risk management tools and analytics for clients, which can further drive volumes. This collaboration could introduce scalable and reliable services, supporting the company’s goal of bringing new products to market efficiently. Enhanced technology can also improve cybersecurity measures, a important aspect for a marketplace dealing with massive amounts of sensitive data daily.
Additionally, the deployment of advanced data analytics could provide CME Group with deeper insights into trading patterns and client needs, fostering better strategic decisions and customized solutions for market participants. This tech-forward approach demonstrates CME Group’s commitment to staying ahead in an increasingly digital and data-driven financial landscape.
- Record quarterly adjusted net income and earnings per share
- Highest Q2 average daily volume (ADV) in company history (26 million contracts)
- Year-over-year growth across every asset class
The company reported revenue of
"As escalating uncertainties drove an increased need for risk management across all asset classes, CME Group achieved record Q2 volume and generated record revenue, adjusted net income and adjusted earnings per share," said CME Group Chairman and Chief Executive Officer Terry Duffy. "During the quarter, and for the first time in more than a decade, our volume and open interest grew in every asset class, with overall ADV up
"As we move through the remainder of 2024, we will continue to focus on delivering capital efficiencies, bringing new products to market and creating additional value for our clients through our partnership with Google Cloud."
Second-quarter 2024 average daily volume (ADV) was 25.9 million contracts, including non-
1. A reconciliation of the non-GAAP financial results mentioned to the respective GAAP figures can be found within the Reconciliation of GAAP to non-GAAP Measures chart at the end of the financial statements and earnings presentation materials. |
Clearing and transaction fees revenue for second-quarter 2024 totaled
As of June 30, 2024, the company had approximately
CME Group will hold a Q&A conference call to discuss second-quarter 2024 results at 8:30 a.m. Eastern Time today. A live audio webcast of the Q&A call will be available on the Investor Relations section of CME Group's website at investor.cmegroup.com under Events & Presentations. An archived recording will be available for up to two months after the call.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and
Statements in this press release that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. We want to caution you not to place undue reliance on any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the factors that might affect our performance are increasing competition by foreign and domestic entities, including increased competition from new entrants into our markets and consolidation of existing entities; our ability to keep pace with rapid technological developments, including our ability to complete the development, implementation and maintenance of the enhanced functionality required by our customers while maintaining reliability and ensuring that such technology is not vulnerable to security risks; our ability to continue introducing competitive new products and services on a timely, cost-effective basis, including through our electronic trading capabilities, and our ability to maintain the competitiveness of our existing products and services; our ability to adjust our fixed costs and expenses if our revenues decline; our ability to maintain existing customers at substantially similar trading levels, develop strategic relationships and attract new customers; our ability to expand and globally offer our products and services; changes in regulations, including the impact of any changes in laws or government policies with respect to our products or services or our industry, such as any changes to regulations and policies that require increased financial and operational resources from us or our customers; the costs associated with protecting our intellectual property rights and our ability to operate our business without violating the intellectual property rights of others; decreases in revenue from our market data as a result of decreased demand or changes to regulations in various jurisdictions; changes in our rate per contract due to shifts in the mix of the products traded, the trading venue and the mix of customers (whether the customer receives member or non-member fees or participates in one of our various incentive programs) and the impact of our tiered pricing structure; the ability of our credit and liquidity risk management practices to adequately protect us from the credit risks of clearing members and other counterparties, and to satisfy the margin and liquidity requirements associated with the BrokerTec matched principal business; the ability of our compliance and risk management programs to effectively monitor and manage our risks, including our ability to prevent errors and misconduct and protect our infrastructure against security breaches and misappropriation of our intellectual property assets; our dependence on third-party providers and exposure to risk through third parties, including risks related to the performance, reliability and security of technology used by our third-party providers and third-party providers that our clients rely on; volatility in commodity, equity and fixed income prices, and price volatility of financial benchmarks and instruments such as interest rates, equity indices, fixed income instruments and foreign exchange rates; economic, social, political and market conditions, including the volatility of the capital and credit markets and the impact of economic conditions on the trading activity of our current and potential customers; our ability to accommodate increases in contract volume and order transaction traffic and to implement enhancements without failure or degradation of the performance of our trading and clearing systems; our ability to execute our growth strategy and maintain our growth effectively; our ability to manage the risks, control the costs and achieve the synergies associated with our strategy for acquisitions, investments and alliances, including those associated with the performance of our joint ventures with S&P Dow Jones (S&P Dow Jones Indices LLC) in index services and in trade processing/post trade services (OSTTRA), our primary business and distribution partners' actions and our partnership with Google Cloud; variances in earnings on cash accounts and collateral that our clearing house holds for its clients; impact of CME Group pricing and incentive changes; impact of aggregation services and internalization on trade flow and volumes; any negative financial impacts from changes to the terms of intellectual property and index rights; our ability to continue to generate funds and/or manage our indebtedness to allow us to continue to invest in our business; industry, channel partner and customer consolidation and/or concentration; decreases in trading and clearing activity; the imposition of a transaction tax or user fee on futures and options transactions and/or repeal of the 60/40 tax treatment of such transactions; increases in effective tax rates, borrowing costs, or changes in tax policy; our ability to maintain our brand and reputation; and the unfavorable resolution of material legal proceedings. For a detailed discussion and additional information concerning these and other factors that might affect our performance, see our other recent periodic filings, including our Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission ("SEC") on February 28, 2024, under the caption "Risk Factors".
CME Group Inc. and Subsidiaries | ||||
Consolidated Balance Sheets | ||||
(in millions) | ||||
June 30, 2024 | December 31, 2023 | |||
ASSETS | ||||
Current Assets: | ||||
Cash and cash equivalents | $ 1,789.9 | $ 2,912.0 | ||
Marketable securities | 121.7 | 111.7 | ||
Accounts receivable, net of allowance | 599.5 | 535.6 | ||
Other current assets (includes | 567.5 | 1,138.4 | ||
Performance bonds and guaranty fund contributions | 85,670.0 | 90,192.5 | ||
Total current assets | 88,748.6 | 94,890.2 | ||
Property, net of accumulated depreciation and amortization | 384.5 | 409.5 | ||
Intangible assets—trading products | 17,175.3 | 17,175.3 | ||
Intangible assets—other, net | 2,932.5 | 3,050.2 | ||
Goodwill | 10,488.6 | 10,495.3 | ||
Other assets | 3,649.8 | 3,685.6 | ||
Total Assets | $ 123,379.3 | $ 129,706.1 | ||
LIABILITIES AND EQUITY | ||||
Current Liabilities: | ||||
Accounts payable | $ 99.9 | $ 90.6 | ||
Short-term debt | 749.5 | — | ||
Other current liabilities | 454.6 | 3,133.8 | ||
Performance bonds and guaranty fund contributions | 85,670.0 | 90,192.5 | ||
Total current liabilities | 86,974.0 | 93,416.9 | ||
Long-term debt | 2,677.2 | 3,425.4 | ||
Deferred income tax liabilities, net | 5,309.1 | 5,327.7 | ||
Other liabilities | 783.2 | 798.2 | ||
Total Liabilities | 95,743.5 | 102,968.2 | ||
Total CME Group Shareholders' Equity | 27,635.8 | 26,737.9 | ||
Total Liabilities and Equity | $ 123,379.3 | $ 129,706.1 |
CME Group Inc. and Subsidiaries | ||||||||
Consolidated Statements of Income | ||||||||
(dollars in millions, except per share amounts; shares in thousands) | ||||||||
Quarter Ended June 30, | Six Months Ended June 30, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Revenues | ||||||||
Clearing and transaction fees | $ 1,249.9 | $ 1,118.3 | $ 2,458.8 | $ 2,318.5 | ||||
Market data and information services | 175.0 | 163.1 | 350.4 | 328.9 | ||||
Other | 107.6 | 78.8 | 211.2 | 154.4 | ||||
Total Revenues | 1,532.5 | 1,360.2 | 3,020.4 | 2,801.8 | ||||
Expenses | ||||||||
Compensation and benefits | 204.7 | 205.7 | 410.7 | 410.2 | ||||
Technology | 64.1 | 53.3 | 123.5 | 104.6 | ||||
Professional fees and outside services | 34.7 | 37.8 | 67.8 | 76.1 | ||||
Amortization of purchased intangibles | 55.5 | 57.0 | 110.7 | 113.8 | ||||
Depreciation and amortization | 28.7 | 32.3 | 58.8 | 64.2 | ||||
Licensing and other fee agreements | 85.9 | 78.2 | 173.8 | 162.9 | ||||
Other | 58.3 | 57.3 | 114.9 | 117.7 | ||||
Total Expenses | 531.9 | 521.6 | 1,060.2 | 1,049.5 | ||||
Operating Income | 1,000.6 | 838.6 | 1,960.2 | 1,752.3 | ||||
Non-Operating Income (Expense) | ||||||||
Investment income | 1,044.5 | 1,568.2 | 2,115.8 | 2,925.9 | ||||
Interest and other borrowing costs | (40.1) | (40.2) | (80.0) | (80.1) | ||||
Equity in net earnings of unconsolidated subsidiaries | 86.4 | 75.1 | 173.6 | 153.3 | ||||
Other non-operating income (expense) | (936.9) | (1,425.3) | (1,901.7) | (2,578.1) | ||||
Total Non-Operating Income (Expense) | 153.9 | 177.8 | 307.7 | 421.0 | ||||
Income before Income Taxes | 1,154.5 | 1,016.4 | 2,267.9 | 2,173.3 | ||||
Income tax provision | 271.3 | 238.8 | 529.5 | 511.9 | ||||
Net Income | $ 883.2 | $ 777.6 | $ 1,738.4 | $ 1,661.4 | ||||
Net Income Attributable to Common Shareholders of CME | $ 872.1 | $ 767.8 | $ 1,716.5 | $ 1,640.5 | ||||
Earnings per Share Attributable to Common Shareholders of | ||||||||
Basic | $ 2.43 | $ 2.14 | $ 4.78 | $ 4.57 | ||||
Diluted | 2.42 | 2.14 | 4.77 | 4.56 | ||||
Weighted Average Number of Common Shares: | ||||||||
Basic | 359,330 | 358,940 | 359,294 | 358,937 | ||||
Diluted | 359,869 | 359,429 | 359,852 | 359,371 |
CME Group Inc. and Subsidiaries | ||||||||||
Quarterly Operating Statistics | ||||||||||
2Q 2023 | 3Q 2023 | 4Q 2023 | 1Q 2024 | 2Q 2024 | ||||||
Trading Days | 62 | 63 | 63 | 61 | 63 |
Quarterly Average Daily Volume (ADV)(1) | ||||||||||
CME Group ADV (in thousands) | ||||||||||
Product Line | 2Q 2023 | 3Q 2023 | 4Q 2023 | 1Q 2024 | 2Q 2024 | |||||
Interest rates | 11,273 | 10,967 | 13,348 | 13,839 | 12,894 | |||||
Equity indexes | 6,216 | 6,353 | 6,922 | 6,856 | 6,779 | |||||
Foreign exchange | 898 | 942 | 1,007 | 984 | 1,075 | |||||
Energy | 2,104 | 2,126 | 2,158 | 2,412 | 2,447 | |||||
Agricultural commodities | 1,752 | 1,433 | 1,469 | 1,596 | 1,877 | |||||
Metals | 612 | 528 | 609 | 675 | 868 | |||||
Total | 22,855 | 22,349 | 25,513 | 26,360 | 25,941 | |||||
Venue | ||||||||||
CME Globex | 20,907 | 20,838 | 23,503 | 23,985 | 24,143 | |||||
Open outcry | 1,124 | 713 | 1,126 | 1,333 | 825 | |||||
Privately negotiated | 825 | 797 | 885 | 1,043 | 974 | |||||
Total | 22,855 | 22,349 | 25,513 | 26,360 | 25,941 |
Quarterly Average Rate Per Contract (RPC)(1) | ||||||||||
CME Group RPC | ||||||||||
Product Line | 2Q 2023 | 3Q 2023 | 4Q 2023 | 1Q 2024 | 2Q 2024 | |||||
Interest rates | $ 0.505 | $ 0.508 | $ 0.488 | $ 0.486 | $ 0.484 | |||||
Equity indexes | 0.644 | 0.625 | 0.616 | 0.641 | 0.628 | |||||
Foreign exchange | 0.800 | 0.791 | 0.806 | 0.787 | 0.754 | |||||
Energy | 1.347 | 1.324 | 1.338 | 1.334 | 1.297 | |||||
Agricultural commodities | 1.356 | 1.328 | 1.361 | 1.356 | 1.366 | |||||
Metals | 1.487 | 1.492 | 1.502 | 1.556 | 1.511 | |||||
Average RPC | $ 0.724 | $ 0.707 | $ 0.682 | $ 0.695 | $ 0.708 |
1. ADV and RPC includes futures and options on futures only. |
CME Group Inc. and Subsidiaries | ||||||||
Reconciliation of GAAP to non-GAAP Measures | ||||||||
(dollars in millions, except per share amounts; shares in thousands) | ||||||||
Quarter Ended June 30, | Six Months Ended June 30, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Net Income | $ 883.2 | $ 777.6 | $ 1,738.4 | $ 1,661.4 | ||||
Restructuring and severance | 0.8 | 1.6 | 3.6 | 2.3 | ||||
Amortization of purchased intangibles(1) | 68.9 | 70.5 | 137.6 | 140.6 | ||||
Strategic transaction-related costs (credits) | (1.1) | — | 0.8 | (2.2) | ||||
Real estate-related costs (credits) | (1.0) | — | (1.0) | — | ||||
Foreign exchange transaction (gains) losses | (0.3) | 1.1 | (2.1) | 1.8 | ||||
Unrealized and realized (gains) losses on investments | (9.2) | 1.0 | (11.7) | (73.8) | ||||
Unrealized and realized (gains) losses on assets | — | 0.4 | 0.8 | 0.4 | ||||
Income tax effect related to above | (11.0) | (15.0) | (25.0) | (11.0) | ||||
Other income tax items | 1.9 | (0.8) | 1.9 | (0.8) | ||||
Adjusted Net Income | $ 932.2 | $ 836.4 | $ 1,843.3 | $ 1,718.7 | ||||
Adjusted Net Income Attributable to Common Shareholders of CME Group | $ 920.4 | $ 825.9 | $ 1,820.1 | $ 1,697.0 | ||||
Earnings per Share Attributable to Common Shareholders of CME Group: | ||||||||
Basic | $ 2.43 | $ 2.14 | $ 4.78 | $ 4.57 | ||||
Diluted | 2.42 | 2.14 | 4.77 | 4.56 | ||||
Adjusted Earnings per Share Attributable to Common Shareholders of CME Group: | ||||||||
Basic | $ 2.56 | $ 2.30 | $ 5.07 | $ 4.73 | ||||
Diluted | 2.56 | 2.30 | 5.06 | 4.72 | ||||
Weighted Average Number of Common Shares: | ||||||||
Basic | 359,330 | 358,940 | 359,294 | 358,937 | ||||
Diluted | 359,869 | 359,429 | 359,852 | 359,371 | ||||
Preferred shares(2) | 4,584 | 4,584 | 4,584 | 4,584 |
1. Includes | ||||||||
2. Preferred shares have similar rights as common shares without voting rights. |
CME-G
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SOURCE CME Group
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