Earnings Review and Free Research Report: CBOE Holdings’ Earnings Best Estimates; Revenue Soared 85%

Research Desk Line-up: Sigma Labs Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 24, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on CBOE Holdings, Inc. (NASDAQ: CBOE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CBOE, following the Company’s reporting of its financial results on August 04, 2017, for Q2 FY17 which beat Wall Street’s estimates of adjusted earnings of $0.87 per share on operating income of $117.8 million. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the Diversified Investments industry. Pro-TD has currently selected Sigma Labs, Inc. (NASDAQ: SGLB) for due-diligence and potential coverage as the Company announced on August 14, 2017, its financial results for Q2 which ended on June 30, 2017, and also provided an overview of recent developments. Register for a free membership today, and be among the early birds that get access to our report on Sigma Labs when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CBOE; also brushing on SGLB. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

CBOE Holdings reported operating income of $117.8 million on total revenues less cost of revenues of $266.9 million for the second quarter of FY17 compared to operating income of $78.0 million on total revenues less cost of revenues of $144.1 million in Q2 FY16; registering a y-o-y rise of 51 % in operating income and 85% in total revenues.

The Company reported a non-GAAP operating margin of 44.1% for Q2 FY17 compared to 39.7% for Q2 FY16.

The net income allocated to the common stockholders of CBOE Holdings was $67.3 million in Q2 FY17 compared to $50.7 million for Q2 FY16; an increase of 32.7% y-o-y. For the second quarter of the current fiscal year, the diluted earnings per share (EPS) was $0.60 compared to $0.62 in the same quarter of the last fiscal year. The Company reported earnings before interest, tax, depreciation, and amortization (EBITDA) of $173.7 million in Q2 FY17 versus $95.9 million in Q2 FY16, and EBITDA margin of 65.1% versus 65.0% in Q2 FY16.

CBOE Holdings generated adjusted net income allocated to common stockholders of $98.0 million for Q2 FY17 versus $48.7 million in the same quarter of the last fiscal year. The Company reported adjusted diluted EPS of $0.87 in Q2 FY17 compared to $0.60 in Q2 FY16.

CBOE Holdings beat Wall Street’s earnings estimates of $0.87 while revenues came in-line with analysts’ estimates.

Segment Information

The Options business of the Company generated net revenue of $126.7 million and net income of $34.7 million in Q2 FY17 compared to $124.6 million of net revenue and $21.0 million of net income in Q2 FY16. This segment’s net transaction fees increased $3.7 million y-o-y and the total options average daily volume (ADV) increased 15% y-o-y for Q2 FY17.

The US Equities business of CBOE Holdings generated net revenue of $74.4 million and net income of $32.8 million in the second quarter of the current fiscal year. The revenue in this segment was $72.2 million in Q2 FY16.

The Futures business generated a net revenue of $36.2 million in Q2 FY17 versus $30.2 million in Q2 FY16; registering a rise of 20%.

The European Equities business generated net income of $1.8 million in Q2 FY17.

The Global FX business generated net revenue of $10.9 million in the second quarter of the current fiscal year compared to $9.0 million in Q2 FY16; registering a growth of 21% y-o-y.

Cash Matters

CBOE Holdings generated $172.1 million from operating activities in H1 2017 compared to $114.9 million in H1 2016; a rise of 49.8% y-o-y.

The Company utilized $1.47 billion in investing activities in the first half of the current fiscal year versus expenditure of $63.9 million in the corresponding period last year.

CBOE Holdings also generated $1.35 billion from financing activities in H1 2017 versus an expenditure of $101.1 million in the same period of last year.

The cash and cash equivalents available with the Company was $148.6 million at the end of the first period of the current year compared to $52.2 million in the same period last year.

Outlook

CBOE Holdings updated its guidance for the 2017 fiscal year, expecting adjusted operating expenses at the lower end of the range of $415 million and $423 million. This guidance excludes acquisition-related expenses of $69.9 million (which represents expenses recognized through June 30, 2017); accelerated stock-based compensation of $9.1 million; and amortization of acquired intangible assets of $169 million. The Company also expects capital expenditure to be in the range of $55 million to $60 million.

Stock Performance

CBOE Holdings’ share price finished yesterday’s trading session at $98.40, marginally down 0.72%. A total volume of 865.00 thousand shares have exchanged hands. The Company’s stock price skyrocketed 14.38% in the last three months, 22.60% in the past six months, and 44.22% in the previous twelve months. Additionally, the stock soared 33.17% since the start of the year. Shares of the Company have a PE ratio of 54.33 and have a dividend yield of 1.10%. The stock currently has a market cap of $11.20 billion.

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