CME's third-quarter results reflect declining revenues due to lower clearing and transaction fees and other, as well as lower trading volumes.
CME Group Inc. (NASDAQ:CME ) Q3 2025 Earnings Call October 22, 2025 8:30 AM EDT Company Participants Adam Minick - Investor Contact Terrence Duffy - Chairman & CEO Lynne Fitzpatrick - President & CFO Tim McCourt - Senior MD & Global Head of Equities, FX and Alternative Products Julie Winkler - Senior MD & Chief Commercial Officer Derek Sammann - Senior MD & Global Head of Commodities Markets Suzanne Sprague - Senior MD, Group COO & Global Head of Clearing Sunil Cutinho - Chief Information Officer Michael Dennis - Senior Managing Director & Global Head of Fixed Income Conference Call Participants Daniel Fannon - Jefferies LLC, Research Division Patrick Moley - Piper Sandler & Co., Research Division Benjamin Budish - Barclays Bank PLC, Research Division Brian Bedell - Deutsche Bank AG, Research Division Kenneth Worthington - JPMorgan Chase & Co, Research Division Christopher Allen - Citigroup Inc., Research Division Michael Cyprys - Morgan Stanley, Research Division Kyle Voigt - Keefe, Bruyette, & Woods, Inc., Research Division Simon Alistair Clinch - Rothschild & Co Redburn, Research Division Craig Siegenthaler - BofA Securities, Research Division William Qi - RBC Capital Markets, Research Division Presentation Operator Welcome to the CME Group Third Quarter 2025 Earnings. [Operator Instructions] I would now like to turn the call over to Adam Minick.
Although the revenue and EPS for CME (CME) give a sense of how its business performed in the quarter ended September 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
CME Group (CME) came out with quarterly earnings of $2.68 per share, beating the Zacks Consensus Estimate of $2.63 per share. This compares to earnings of $2.68 per share a year ago.
CME (NASDAQ:CME), the largest derivatives marketplace in the world, is preparing to announce its Q3 2025 earnings on Wednesday, October 22. The firm manages essential exchanges including the Chicago Mercantile Exchange and the Chicago Board of Trade, where investors and institutions engage in trading futures and options to protect against fluctuations in interest rates, commodities, and equity indexes.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
CME's third-quarter performance is likely to have benefited from a diverse product portfolio, increased volatility and expanding data services.
Besides Wall Street's top-and-bottom-line estimates for CME (CME), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2025.
Solid global presence, a compelling product portfolio, increased electronic trading and a focus on over-the-counter clearing services poise CME for growth.
CME Group outperformed the S&P 500 over the past decade, driven by its dominant derivatives platform and resilient revenue growth. Revenue per share has grown steadily, and CME maintains industry-leading low leverage, supporting its financial stability and risk profile. Dividend growth is strong and consistent, with both regular and special payouts, though the high payout ratio warrants monitoring.
I reiterate my Strong Buy rating on CME Group Inc. with a fair value of $319, driven by robust demand for risk hedging and record revenues. CME's ADV hit 21.9 million contracts in July, fueled by tariff uncertainties and volatile commodity prices, supporting sustained volume growth. Strategic expansion into the retail trading market is attracting new traders and diversifying revenue streams, enhancing long-term growth prospects.
CME Group Inc. (NASDAQ:CME ) Q2 2025 Earnings Call July 23, 2025 8:30 AM ET Company Participants Adam Minick - Investor Contact Terrence Duffy - Chairman & CEO Lynne Fitzpatrick - President & CFO Julie Winkler - Senior MD & Chief Commercial Officer Tim McCourt - Senior MD & Global Head of Equities, FX and Alternative Products Derek Sammann - Senior MD & Global Head of Commodities Markets Suzanne Sprague - Senior MD, Group COO & Global Head of Clearing Michael Dennis - Senior Managing Director & Global Head of Fixed Income Conference Call Participants Kwun Sum Lau - Oppenheimer & Co. Inc., Research Division Brian Bedell - Deutsche Bank AG, Research Division Christopher Allen - Citigroup Inc., Research Division Elias Abboud - BofA Securities, Research Division Daniel Fannon - Jefferies LLC, Research Division Alex Kramm - UBS Investment Bank, Research Division Kenneth Worthington - JPMorgan Chase & Co, Research Division Patrick Moley - Piper Sandler & Co., Research Division Michael Cyprys - Morgan Stanley, Research Division Kyle Voigt - Keefe, Bruyette, & Woods, Inc., Research Division Benjamin Budish - Barclays Bank PLC, Research Division Alexander Blostein - Goldman Sachs Group, Inc., Research Division Simon Alistair Clinch - Redburn (Europe) Limited, Research Division William Katz - TD Cowen, Research Division William Qi - RBC Capital Markets, Research Division Operator Welcome to the CME Group Second Quarter 2025 Earnings Call. [Operator Instructions] I would now like to turn the call over to Adam Minick.