Canada's TMX Group Q2 revenue up 15%, beats estimates

TMX

31/07/2025 22:14

Overview

TMX Group Q2 revenue grows 15%, beating analyst expectations, per LSEG data

Adjusted EPS for Q2 rises 21%, beating consensus, per LSEG data

Company announces 10% dividend increase, fifth in three years

Outlook

TMX Group remains committed to executing long-term growth strategy

Result Drivers

DERIVATIVES TRADING - Revenue from derivatives trading and clearing rose 33% due to strong volumes

EQUITIES AND FIXED INCOME - Equities and fixed income trading revenue increased 18%, driven by higher trading volumes

FX IMPACT - Favorable FX impact from stronger USD and GBP relative to CAD contributed to revenue growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
C$421.70 mln
C$415.80 mln (6 Analysts)
Q2 Adjusted EPS
Beat
C$0.52
C$0.49 (8 Analysts)
Q2 EPS
C$0.26
Q2 Operating Expenses
C$229.60 mln
Q2 Operating Income
C$192.10 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "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 TMX Group Ltd is C$58.50, about 3.9% above its July 30 closing price of C$56.23

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release: ID:nNFC7WqWPX

(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.)