Miami International Q1 net revenue jumps, profit beats estimates

Miami International Holdings

06/05/2026 21:21

Overview

U.S. exchange operator's Q1 net revenue rose 40% yr/yr, driven by options growth

Adjusted diluted EPS for Q1 beat analyst expectations

Company reaffirmed full-year 2026 adjusted operating expense guidance

Outlook

Company reaffirms FY 2026 adjusted operating expense guidance of $265 mln to $275 mln

Company expects FY 2026 share-based compensation expense of $27 mln to $30 mln

Company sees FY 2026 capital expenditures at $40 mln to $45 mln

Result Drivers

OPTIONS BUSINESS - Growth in options revenue was driven by higher industry volumes, increased market share, and higher revenue per contract

NON-TRANSACTION REVENUE - Higher non-transaction fees were driven by increased member connections, 2026 fee increases, expiration of certain fee waivers, and new market data products

INTERNATIONAL SEGMENT - Revenue growth in the international segment was primarily due to the acquisition of The International Stock Exchange Group Limited (TISE)

Company press release: ID:nPn4Zr2lga

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$128.6 mln
Q1 Adjusted EPS
Beat
$0.42
$0.38 (6 Analysts)
Q1 EPS
$1.56
Q1 Adjusted Net Income
$45.3 mln
Q1 Adjusted EBITDA
$66.1 mln
Q1 Operating Income
$46 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the financial & commodity market operators & service providers peer group is "buy"

Wall Street's median 12-month price target for Miami International Holdings Inc is $50.00, about 4.8% above its May 5 closing price of $47.71

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)