CME Group (CME) investor relations material

Executive summary

• Q2 2026 revenue reached $1.7 billion, up 1% year-over-year, with net income of $1.04 billion and diluted EPS of $2.88; adjusted net income and EPS both up 1% year-over-year.

• Market data revenue hit a record $238 million, up 20% year-over-year, driven by new products, subscriber growth, and price increases.

• Average daily volume was 29.8 million contracts, the second highest Q2 in history, with open interest up 8% year-over-year and 16% since the start of 2026.

• Achieved record first-half performance in revenue, adjusted operating income, adjusted net income, and adjusted EPS, driven by record Q1 trading and strong Q2 volumes.

• Returned $1.2 billion to shareholders in the first half of 2026 through dividends and share repurchases.

Financial highlights

• Q2 2026 revenue: $1.7 billion (+1% YoY); adjusted net income: $1.1 billion (+1% YoY); adjusted diluted EPS: $2.99 (+1% YoY).

• Market data revenue: $238 million (+20% YoY); clearing and transaction fee revenue: $1.4 billion.

• Adjusted operating margin: 69.5%; operating margin: 64.9%-65%.

• Adjusted expenses were $521 million, or $412 million excluding license fees.

• Cash at quarter end: $2.3 billion; total debt: $3.4 billion.

Outlook and guidance

• Third quarter volumes are tracking 18% ahead of last year as of July; July 2026 ADV trending toward highest July in history.

• Continued strong demand for risk management products and ongoing investments in technology and product innovation, including launches of 24/7 trading for crypto and gold, Single Stock futures, Treasury Link, and Compute Futures.

• Full-year adjusted operating expense (ex-license fees) expected at ~$1.695 billion; capital expenditures at ~$85 million.

• Adjusted effective tax rate expected at the low end of 23.5%-24.5% guidance.

• Management expects continued volatility in energy and metals markets due to geopolitical tensions, with potential impacts on trading volumes.