CME Group Reports Record Q3 Revenue, Beating EPS Estimates

CME Group Inc, a leading international derivatives marketplace, has announced record-breaking financial results on Wednesday for the third quarter of 2024. The company reported revenue of $1.6 billion and operating income of $1.0 billion, both the highest in its history.

Net income for the quarter reached $913 million, with diluted earnings per share of $2.50. On an adjusted basis, net income was $977 million, and diluted earnings per share came in at $2.68.

“Q3 2024 was the best quarter in CME Group history, with records across volume, revenue, adjusted operating income, adjusted net income and adjusted earnings per share,” said Terry Duffy, Chairman and Chief Executive Officer of CME Group.

This is the second consecutive quarter where CME Group experienced growth in both volume and open interest across all asset classes. The company's financial product volumes rose by 28%, driven by a 36% increase in interest rate products, reaching a record average daily volume (ADV) of 14.9 million contracts. SOFR futures saw a 35% rise to a record ADV of 4.1 million contracts, while Treasuries grew by 31%, hitting a record ADV of 8.4 million contracts. Additionally, commodities volume increased by 20%, options rose by 27%, and international ADV hit a record 8.4 million contracts.

For the third quarter of 2024, CME Group achieved a record ADV of 28.3 million contracts. Non-U.S. ADV also set records, with EMEA up 30% and Asia rising 28% year-on-year.

Clearing and transaction fees revenue for the quarter totaled $1.3 billion, with an average rate per contract of $0.666. Market data revenue amounted to $178 million.

As of September 30, 2024, CME Group held approximately $2.6 billion in cash, including $250 million deposited with the Fixed Income Clearing Corporation. The company also reported $3.4 billion in debt. During the third quarter, CME Group paid out approximately $419 million in dividends and has returned around $25.6 billion to shareholders in dividends since implementing its variable dividend policy in early 2012.