Subtext

Intercontinental Exchange, Inc. ICE

SectorFinancials
Transcripts72
Date range2007-07-26 – 2025-05-01
Calls charted72

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-14-7+0+7+142007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12007 Q2 · Overall: +10.52007 Q3 · Overall: +3.02007 Q4 · Overall: +5.32008 Q1 · Overall: +5.32008 Q2 · Overall: +4.22008 Q3 · Overall: +2.82008 Q4 · Overall: +6.12009 Q1 · Overall: +4.72009 Q2 · Overall: +2.92009 Q3 · Overall: +5.62009 Q4 · Overall: +8.62010 Q1 · Overall: +6.22010 Q2 · Overall: +8.02010 Q3 · Overall: +8.32010 Q4 · Overall: +6.82011 Q1 · Overall: +4.82011 Q2 · Overall: +6.12011 Q3 · Overall: +2.72011 Q4 · Overall: +6.02012 Q1 · Overall: +6.32012 Q2 · Overall: +6.22012 Q3 · Overall: +4.22012 Q4 · Overall: +6.92013 Q1 · Overall: +5.12013 Q2 · Overall: +5.62013 Q3 · Overall: +6.32013 Q4 · Overall: +2.52014 Q1 · Overall: +5.22014 Q2 · Overall: -0.52014 Q3 · Overall: +8.02014 Q4 · Overall: +3.12015 Q1 · Overall: +9.22015 Q2 · Overall: +10.72015 Q3 · Overall: +9.12015 Q4 · Overall: +9.42016 Q1 · Overall: +7.22016 Q2 · Overall: +8.52016 Q3 · Overall: +4.52016 Q4 · Overall: +6.02017 Q1 · Overall: +5.92017 Q2 · Overall: +6.22017 Q3 · Overall: +2.32017 Q4 · Overall: +8.12018 Q1 · Overall: +9.82018 Q2 · Overall: +5.92018 Q3 · Overall: +4.92018 Q4 · Overall: +3.82019 Q1 · Overall: +3.02019 Q2 · Overall: +4.32019 Q3 · Overall: +5.52019 Q4 · Overall: +3.02020 Q1 · Overall: -4.32020 Q2 · Overall: +3.22020 Q3 · Overall: +5.72020 Q4 · Overall: +6.22021 Q1 · Overall: +5.22021 Q2 · Overall: +5.62021 Q3 · Overall: +7.22021 Q4 · Overall: +7.12022 Q1 · Overall: +12.22022 Q2 · Overall: +5.52022 Q3 · Overall: +6.92022 Q4 · Overall: +5.42023 Q1 · Overall: +10.32023 Q2 · Overall: +9.42023 Q3 · Overall: +7.32023 Q4 · Overall: +8.62024 Q1 · Overall: +6.22024 Q2 · Overall: +10.12024 Q3 · Overall: +5.92024 Q4 · Overall: +11.12025 Q1 · Overall: +8.1
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-26-13+0+13+262007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12007 Q2 · CEO: +12.22007 Q4 · CEO: +1.42008 Q1 · CEO: +1.42008 Q3 · CEO: -0.12008 Q4 · CEO: +3.72009 Q1 · CEO: +4.82009 Q2 · CEO: -0.72009 Q3 · CEO: +3.32009 Q4 · CEO: +6.42010 Q1 · CEO: +5.82010 Q2 · CEO: +6.72010 Q3 · CEO: +5.52010 Q4 · CEO: +7.42011 Q1 · CEO: +4.92011 Q2 · CEO: +6.62011 Q3 · CEO: +2.92011 Q4 · CEO: +8.82012 Q1 · CEO: +8.52012 Q2 · CEO: +5.12012 Q3 · CEO: +3.82012 Q4 · CEO: +11.12013 Q1 · CEO: +8.82013 Q2 · CEO: +7.62013 Q3 · CEO: +11.52013 Q4 · CEO: +9.52014 Q1 · CEO: +6.42014 Q2 · CEO: +0.42014 Q3 · CEO: +10.32014 Q4 · CEO: +6.22015 Q1 · CEO: +14.52015 Q2 · CEO: +10.72015 Q3 · CEO: +12.52015 Q4 · CEO: +12.22016 Q1 · CEO: +11.42016 Q2 · CEO: +8.72016 Q3 · CEO: +4.42016 Q4 · CEO: +10.62017 Q1 · CEO: +7.52017 Q2 · CEO: +4.92017 Q3 · CEO: +5.62017 Q4 · CEO: +9.32018 Q1 · CEO: +12.22018 Q2 · CEO: +4.42018 Q3 · CEO: +6.52018 Q4 · CEO: +2.32019 Q1 · CEO: +4.02020 Q4 · CEO: +7.72021 Q2 · CEO: +12.52021 Q3 · CEO: +9.22021 Q4 · CEO: +0.02022 Q1 · CEO: +20.12022 Q2 · CEO: +2.62022 Q3 · CEO: +9.12022 Q4 · CEO: +7.72023 Q1 · CEO: +8.12023 Q2 · CEO: +7.92023 Q3 · CEO: +1.12023 Q4 · CEO: -3.02024 Q2 · CEO: +22.32024 Q3 · CEO: +10.82024 Q4 · CEO: +15.52025 Q1 · CEO: +14.32007 Q2 · CFO: +14.32007 Q3 · CFO: +7.72007 Q4 · CFO: +7.52008 Q1 · CFO: +7.52008 Q3 · CFO: +11.62008 Q4 · CFO: +11.72009 Q1 · CFO: +7.82009 Q2 · CFO: +14.62009 Q3 · CFO: +15.52009 Q4 · CFO: +15.42010 Q1 · CFO: +11.62010 Q2 · CFO: +14.12010 Q3 · CFO: +12.12010 Q4 · CFO: +4.62011 Q1 · CFO: +11.22011 Q2 · CFO: +22.12011 Q3 · CFO: +7.32011 Q4 · CFO: +5.72012 Q1 · CFO: +6.12012 Q2 · CFO: +14.12012 Q3 · CFO: +10.62012 Q4 · CFO: +7.12013 Q1 · CFO: +4.92013 Q2 · CFO: +7.92013 Q3 · CFO: +7.12013 Q4 · CFO: +0.92014 Q1 · CFO: +10.82014 Q2 · CFO: +2.72014 Q3 · CFO: +8.52014 Q4 · CFO: +6.72015 Q1 · CFO: +11.82015 Q2 · CFO: +13.52015 Q3 · CFO: +10.72015 Q4 · CFO: +10.42016 Q1 · CFO: +13.32016 Q2 · CFO: +12.72016 Q3 · CFO: +8.22016 Q4 · CFO: +2.72017 Q1 · CFO: +6.92017 Q2 · CFO: +9.62017 Q3 · CFO: +2.62017 Q4 · CFO: +13.12018 Q1 · CFO: +13.82018 Q2 · CFO: +12.22018 Q3 · CFO: +5.12018 Q4 · CFO: +6.92019 Q1 · CFO: +4.22020 Q4 · CFO: +11.62021 Q2 · CFO: +3.02021 Q3 · CFO: +11.42021 Q4 · CFO: +10.02022 Q1 · CFO: +5.92022 Q2 · CFO: +16.72022 Q3 · CFO: +10.52022 Q4 · CFO: +5.82023 Q1 · CFO: +15.12023 Q2 · CFO: +9.62023 Q3 · CFO: +9.32023 Q4 · CFO: +14.12024 Q2 · CFO: +10.92024 Q3 · CFO: +10.22024 Q4 · CFO: +8.02025 Q1 · CFO: +4.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-27-14+0+14+272007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12007 Q2 · Prepared remarks: +11.02007 Q3 · Prepared remarks: +8.72007 Q4 · Prepared remarks: +5.42008 Q1 · Prepared remarks: +5.42008 Q2 · Prepared remarks: +9.42008 Q3 · Prepared remarks: +11.52008 Q4 · Prepared remarks: +6.12009 Q1 · Prepared remarks: +14.52009 Q2 · Prepared remarks: +9.92009 Q3 · Prepared remarks: +17.42009 Q4 · Prepared remarks: +17.42010 Q1 · Prepared remarks: +7.02010 Q2 · Prepared remarks: +21.82010 Q3 · Prepared remarks: +12.82010 Q4 · Prepared remarks: +7.12011 Q1 · Prepared remarks: +9.62011 Q2 · Prepared remarks: +19.02011 Q3 · Prepared remarks: +7.82011 Q4 · Prepared remarks: +11.72012 Q1 · Prepared remarks: +10.02012 Q2 · Prepared remarks: +9.12012 Q3 · Prepared remarks: +11.22012 Q4 · Prepared remarks: +12.12013 Q1 · Prepared remarks: +15.02013 Q2 · Prepared remarks: +16.92013 Q3 · Prepared remarks: +12.62013 Q4 · Prepared remarks: +9.02014 Q1 · Prepared remarks: +6.82014 Q2 · Prepared remarks: +5.42014 Q3 · Prepared remarks: +17.12014 Q4 · Prepared remarks: +14.12015 Q1 · Prepared remarks: +16.82015 Q2 · Prepared remarks: +13.72015 Q3 · Prepared remarks: +12.32015 Q4 · Prepared remarks: +16.62016 Q1 · Prepared remarks: +18.42016 Q2 · Prepared remarks: +12.52016 Q3 · Prepared remarks: +7.02016 Q4 · Prepared remarks: +11.92017 Q1 · Prepared remarks: +14.52017 Q2 · Prepared remarks: +10.92017 Q3 · Prepared remarks: +11.32017 Q4 · Prepared remarks: +14.92018 Q1 · Prepared remarks: +15.42018 Q2 · Prepared remarks: +10.22018 Q3 · Prepared remarks: +16.02018 Q4 · Prepared remarks: +12.92019 Q1 · Prepared remarks: +11.92019 Q2 · Prepared remarks: +14.22019 Q3 · Prepared remarks: +19.82019 Q4 · Prepared remarks: +17.52020 Q1 · Prepared remarks: +13.12020 Q2 · Prepared remarks: +13.22020 Q3 · Prepared remarks: +16.32020 Q4 · Prepared remarks: +19.92021 Q1 · Prepared remarks: +10.92021 Q2 · Prepared remarks: +9.12021 Q3 · Prepared remarks: +15.82021 Q4 · Prepared remarks: +12.92022 Q1 · Prepared remarks: +19.12022 Q2 · Prepared remarks: +16.92022 Q3 · Prepared remarks: +10.72022 Q4 · Prepared remarks: +7.62023 Q1 · Prepared remarks: +14.52023 Q2 · Prepared remarks: +5.52023 Q3 · Prepared remarks: +8.72023 Q4 · Prepared remarks: +11.22024 Q1 · Prepared remarks: +23.72024 Q2 · Prepared remarks: +12.02024 Q3 · Prepared remarks: +9.22024 Q4 · Prepared remarks: +16.62025 Q1 · Prepared remarks: +10.12007 Q3 · Q&A responses: +2.22008 Q2 · Q&A responses: +1.52008 Q3 · Q&A responses: -0.62009 Q1 · Q&A responses: +0.02009 Q2 · Q&A responses: -0.82009 Q3 · Q&A responses: -1.52009 Q4 · Q&A responses: +3.22010 Q1 · Q&A responses: -3.32010 Q2 · Q&A responses: +3.02010 Q3 · Q&A responses: +4.82010 Q4 · Q&A responses: +6.62011 Q1 · Q&A responses: +4.92011 Q2 · Q&A responses: +3.22011 Q3 · Q&A responses: +1.62011 Q4 · Q&A responses: +6.12012 Q1 · Q&A responses: +5.52012 Q2 · Q&A responses: +7.02012 Q3 · Q&A responses: +3.02012 Q4 · Q&A responses: +7.22013 Q1 · Q&A responses: +1.42013 Q2 · Q&A responses: +1.72013 Q3 · Q&A responses: +5.32013 Q4 · Q&A responses: +1.42014 Q1 · Q&A responses: +6.82014 Q2 · Q&A responses: -1.92014 Q3 · Q&A responses: +5.12014 Q4 · Q&A responses: +0.02015 Q1 · Q&A responses: +7.12015 Q2 · Q&A responses: +9.82015 Q3 · Q&A responses: +10.72015 Q4 · Q&A responses: +8.72016 Q1 · Q&A responses: +7.42016 Q2 · Q&A responses: +7.92016 Q3 · Q&A responses: +5.02016 Q4 · Q&A responses: +2.22017 Q1 · Q&A responses: +1.22017 Q2 · Q&A responses: +4.02017 Q3 · Q&A responses: +0.42017 Q4 · Q&A responses: +6.42018 Q1 · Q&A responses: +10.82018 Q2 · Q&A responses: +5.92018 Q3 · Q&A responses: +0.22018 Q4 · Q&A responses: +2.42019 Q1 · Q&A responses: -0.62019 Q2 · Q&A responses: +5.02019 Q3 · Q&A responses: +6.52019 Q4 · Q&A responses: +0.72020 Q1 · Q&A responses: -4.62020 Q2 · Q&A responses: +2.82020 Q3 · Q&A responses: +5.82020 Q4 · Q&A responses: +6.42021 Q1 · Q&A responses: +0.02021 Q2 · Q&A responses: +7.92021 Q3 · Q&A responses: +2.42021 Q4 · Q&A responses: +7.72022 Q1 · Q&A responses: +9.32022 Q2 · Q&A responses: +4.32022 Q3 · Q&A responses: +7.52022 Q4 · Q&A responses: +5.62023 Q1 · Q&A responses: +8.12023 Q2 · Q&A responses: +15.72023 Q3 · Q&A responses: +7.92023 Q4 · Q&A responses: +9.32024 Q1 · Q&A responses: +11.02024 Q2 · Q&A responses: +10.62024 Q3 · Q&A responses: +4.42024 Q4 · Q&A responses: +7.22025 Q1 · Q&A responses: +11.6
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$1.74$4.32$6.902007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12014 Q1: $2.382014 Q2: $2.232014 Q3: $2.102014 Q4: $2.382015 Q1: $2.552015 Q2: $2.562015 Q3: $2.672015 Q4: $2.832016 Q1: $2.902016 Q2: $2.942016 Q3: $3.012016 Q4: $3.072017 Q1: $3.102017 Q2: $3.192017 Q3: $3.252017 Q4: $3.392018 Q1: $3.652018 Q2: $3.722018 Q3: $3.782018 Q4: $3.912019 Q1: $3.922019 Q2: $3.982019 Q3: $4.072019 Q4: $4.232020 Q1: $4.342020 Q2: $4.552020 Q3: $4.582020 Q4: $4.742021 Q1: $5.022021 Q2: $5.112021 Q3: $5.142021 Q4: $5.562022 Q1: $5.732022 Q2: $5.622022 Q3: $5.632022 Q4: $5.672023 Q1: $5.582023 Q2: $5.752023 Q3: $5.972023 Q4: $5.792024 Q1: $6.092024 Q2: $6.282024 Q3: $6.54

Forward P/E

15.4120.3625.312007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12014 Q1: 17.142014 Q2: 17.782014 Q3: 19.222014 Q4: 18.622015 Q1: 18.152015 Q2: 18.342015 Q3: 17.502015 Q4: 17.512016 Q1: 16.092016 Q2: 17.452016 Q3: 18.612016 Q4: 19.012017 Q1: 19.472017 Q2: 20.272017 Q3: 20.342017 Q4: 20.792018 Q1: 20.392018 Q2: 20.132018 Q3: 20.522018 Q4: 19.202019 Q1: 18.892019 Q2: 21.502019 Q3: 22.922019 Q4: 21.722020 Q1: 16.132020 Q2: 20.772020 Q3: 22.062020 Q4: 23.482021 Q1: 22.652021 Q2: 22.282021 Q3: 23.122021 Q4: 24.302022 Q1: 22.972022 Q2: 17.002022 Q3: 17.742022 Q4: 18.332023 Q1: 17.482023 Q2: 19.252023 Q3: 19.542023 Q4: 20.992024 Q1: 22.552024 Q2: 21.732024 Q3: 24.63

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q3 tone ↑ +8.6 fwd EPS ↓ -0.13 Tone rose while the forward EPS estimate was cut.
  • 2014 Q4 tone ↓ -4.9 fwd EPS ↑ +0.28 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q1 tone ↓ -2.2 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↓ -4.0 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -3.9 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -4.0 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q4 tone ↓ -2.5 fwd EPS ↑ +0.16 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -7.3 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↑ +4.9 fwd EPS ↓ -0.09 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -2.2 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -2.4 fwd EPS ↑ +0.30 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q3 tone ↓ -4.2 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+8.1——View →
2024 Q42025-02-06+11.1——View →
2024 Q32024-10-31+5.9$6.5424.6View →
2024 Q22024-08-01+10.1$6.2821.7View →
2024 Q12024-05-02+6.2$6.0922.6View →
2023 Q42024-02-08+8.6$5.7921.0View →
2023 Q32023-11-02+7.3$5.9719.5View →
2023 Q22023-08-03+9.4$5.7519.2View →