NASDAQ$TW

Tradeweb Markets Inc. · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Tradeweb surpassed $300 million in quarterly revenue and experienced strong contributions from rates, credit, and equities.

Tradeweb Markets Inc. reported strong financial results for the first quarter of 2022, with quarterly revenues increasing by 13.9% to $311.5 million. The company's average daily volume (ADV) also saw a rise of 10.9% to $1.2 trillion. Net income increased by 19.5% to $97.4 million, and adjusted net income increased by 13.3% to $115.1 million.

  • Quarterly revenues increased 13.9% to $311.5 million.
  • Average daily volume increased 10.9% to $1.2 trillion.
  • Net income increased 19.5% to $97.4 million.
  • Adjusted EBITDA margin was 51.6% or $160.6 million.

Headline financials

Total Revenue

$311M

Previous: $273M+13.9%
EPS (adj)

$0.48

Previous: $0.43+11.6%
Average Daily Volume

$1.18T

Previous: $1.06T+11.0%
Capital Expenditures

-$9.06M

Previous: -$4.36M-107.9%
Free Cash Flow

$73.9M

Previous: $63.5M+16.4%
Net Income

$83M

Previous: $67.9M+22.3%
Operating Income

$112M

Previous: $98.3M+13.5%
Gross Profit

$193M

Previous: $170M+14.0%
Cash & Equivalents

$828M

Previous: $810M+2.2%
Total Assets

$6B

Previous: $5.81B+3.3%
Stock-Based Comp

$13.7M

Previous: $10.8M+27.4%

Revenue & EPS history

Tradeweb · Revenue · Quarterly

$311M

Q1 2022+13.9%vs Q1 2021
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Tradeweb · $311M total across 6 segments · Q1 2022

  • Rates
    $160M+12.2%
  • Credit
    $86.3M+16.1%
  • Equities
    $26.5M+40.7%
  • Market Data
    $21.4M+7.0%
  • Money Markets
    $11.5M+6.5%
  • Other
    $5.4M-16.2%

Forward guidance

Full-Year 2022 guidance is unchanged from prior quarter.

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 Q1 2022

Historical avgQ1 2022

+1.2%

Avg return

Earnings day

+2.5%

Avg return

5 days after

+4.8%

Avg return

30 days after

60%

18 / 30 earnings

Positive

+10.8%

Q2 2023

Best reaction

-8.5%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+5.2%+0.1%-10.9%
Q4 2025+8.6%+15.8%+23.6%
Q3 2025-1.2%-0.6%+3.2%
Q1 2025+0.7%+5.0%+5.1%
Q4 2024-1.4%-0.6%+6.4%
Q3 2024-3.4%-3.3%+3.1%
Q2 2024-1.2%+1.9%+8.6%
Q1 2024-1.1%-1.2%+9.0%
Q4 2023+2.1%+5.2%+6.4%
Q3 2023+5.2%+7.9%+14.4%
Q2 2023+10.8%+9.0%+14.3%
Q1 2023+1.0%+1.2%-1.0%
Q4 2022-4.8%-1.2%-1.4%
Q3 2022+3.6%+3.6%+8.2%
Q2 2022+0.7%+3.2%-4.3%
Q1 2022-8.5%-11.4%-11.4%
Q4 2021-0.1%+1.0%+4.0%
Q3 2021+2.3%+5.0%+10.2%
Q2 2021-0.5%+0.4%+2.1%
Q1 2021+2.2%+2.3%+5.4%
Q4 2020+1.0%+5.1%+11.7%
Q3 2020-6.5%-5.7%+0.1%
Q2 2020-1.0%-0.7%+4.6%
Q1 2020+8.8%+9.9%+16.3%
Q4 2019+2.5%+7.1%-6.0%
Q4 2018+3.4%+4.5%+9.5%
Q3 2018+3.4%+4.5%+9.5%
Q3 2019+5.2%+6.1%+11.9%
Q2 2019-1.4%-0.8%-8.4%
Q1 2019+0.4%+2.2%-0.6%
Q2 2018
Q1 2018
Q4 2017
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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