NASDAQ$CME

CME Group · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

CME Group reported strong Q4 2023 earnings, driven by record average daily volume and double-digit adjusted earnings growth.

CME Group reported a successful fourth quarter and full year of 2023, marked by record revenue and adjusted earnings. The company's Q4 performance was bolstered by a significant increase in interest rate volumes, particularly Treasury futures ADV. Average daily volume reached 25.5 million contracts in Q4, up 17% compared to the same period in 2022.

  • CME Group's average daily volume climbed to a record 24.4 million contracts in 2023.
  • Q4 average daily volume was 25.5 million contracts, up 17% versus fourth-quarter 2022.
  • Interest rate volumes increased by 36% in Q4, including a 46% rise in Treasury futures ADV.
  • The company delivered its tenth consecutive quarter of double-digit adjusted earnings growth.

Headline financials

Total Revenue

$1.44B

Previous: $1.21B+19.1%
EPS (adj)

$2.37

Previous: $1.92+23.4%
Average Daily Volume

25.5M

Previous: 21.8M+17.0%
Average Rate Per Contract

$0.68

Previous: $0.65+4.8%
Capital Expenditures

$20.8M

Previous: $24.4M-14.8%
Net Income

$815M

Previous: $638M+27.7%
Operating Income

$863M

Previous: $668M+29.2%
Gross Profit

$1.23B

Previous: $1.01B+20.9%
Stock-Based Comp

$24.3M

Previous: $25.5M-4.7%

Revenue & EPS history

CME Group · Revenue · Quarterly

$1.44B

Q4 2023+19.1%vs Q4 2022
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Revenue by segment

CME Group · $1.34B total across 3 segments · Q3 2023

  • Clearing and transaction fees
    $1.09B+8.7%
  • Market data and information services
    $168M+8.6%
  • Other
    $84.7M+13.1%

Forward guidance

CME Group continues to focus on delivering new products and increased capital efficiencies, including their enhanced FICC cross-margining program.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2023

Historical avgQ4 2023

-0.1%

Avg return

Earnings day

-0.5%

Avg return

5 days after

+1.9%

Avg return

30 days after

45%

33 / 73 earnings

Positive

+5.8%

Q1 2022

Best reaction

-6.8%

Q3 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.7%-0.9%+2.4%
Q4 2025-0.3%+4.8%+8.2%
Q3 2025-0.3%+0.9%+1.7%
Q2 2025+0.3%-0.9%-4.2%
Q1 2025-1.5%+0.9%+7.0%
Q4 2024+3.0%+1.5%+7.0%
Q3 2024+1.6%+0.9%+1.3%
Q2 2024+1.0%+0.7%+4.9%
Q1 2024-2.0%-3.3%-0.9%
Q4 2023+1.7%+2.3%+4.9%
Q3 2023+0.6%-1.4%+1.4%
Q2 2023+3.9%+4.0%+6.3%
Q1 2023-1.8%-0.6%-5.9%
Q4 2022+2.9%+4.2%-1.8%
Q3 2022-1.7%-1.4%-0.5%
Q2 2022-2.1%-3.9%-3.6%
Q1 2022+5.8%+1.6%-6.3%
Q4 2021+1.1%-0.9%-6.4%
Q3 2021-0.4%-0.4%+1.3%
Q2 2021+1.3%-0.2%-5.7%
Q1 2021-0.5%-0.5%+6.8%
Q4 2020-4.8%-4.0%+8.9%
Q3 2020-5.9%-4.5%+9.6%
Q2 2020-1.7%-1.8%+6.6%
Q1 2020-3.3%-6.4%-0.9%
Q4 2019-1.6%+0.7%-14.0%
Q3 2019+2.4%-2.0%+0.9%
Q2 2019+1.7%+2.3%+10.1%
Q1 2019-3.4%-0.4%+7.4%
Q4 2018-2.8%-3.4%-5.7%
Q3 2018-1.3%+0.8%+4.5%
Q2 2018-2.4%-6.1%-0.1%
Q1 2018-2.3%-2.8%-0.9%
Q4 2017+3.7%+2.7%+8.3%
Q3 2017+2.8%+2.5%+6.0%
Q2 2017+1.3%+2.6%+2.6%
Q1 2017-3.2%-2.3%-1.7%
Q4 2016-0.8%-1.8%+2.6%
Q3 2016-2.8%-3.1%+9.7%
Q2 2016-0.5%+0.6%+3.1%
Q1 2016-2.7%
Q4 2015+4.5%
Q3 2015-1.5%
Q2 2015-1.0%
Q1 2015+1.8%
Q4 2014+5.6%
Q3 2014+2.4%
Q2 2014-2.2%
Q1 2014-1.2%
Q4 2013+0.5%
Q3 2013-1.4%
Q2 2013-2.4%
Q1 2013+0.8%
Q4 2012-2.7%
Q3 2012-2.0%
Q2 2012+2.4%
Q1 2012-1.7%
Q4 2011-0.1%
Q2 2011-0.1%
Q3 2011-6.8%
Q1 2011+0.7%
Q4 2010-2.2%
Q2 2010-2.2%
Q3 2010-0.4%
Q1 2009+3.6%
Q1 2010+1.1%
Q2 2009+1.9%
Q4 2007+1.9%
Q4 2009+1.9%
Q3 2008+2.5%
Q3 2009+2.5%
Q2 2008+0.4%
Q4 2008+0.4%

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