Cboe Global Markets Expects FY24 Net Revenue Growth Of 6%-8% (Prior 5%-7%) YoY Vs $2.065B Est

Author: Benzinga Newsdesk | August 02, 2024 07:34am

2024 Fiscal Year Financial Guidance

Cboe provided guidance for the 2024 fiscal year as noted below.

• Organic total net revenue growth is expected to be in the range of 6 to 8 percentage points, up from previous guidance calling for the higher end of 5 to 7 percentage points in 2024.
• Anticipates lower end of organic net revenue1 growth range from Data and Access Solutions of 7 to 10 percentage points in 2024.
• Reaffirms adjusted operating expenses in 2024 are expected to be in the range of $795 to $805 million. The guidance excludes the expected amortization of acquired intangible assets of $92 million; the company reflects the exclusion of this amount in its non-GAAP reconciliation.
• Reaffirms depreciation and amortization expense for 2024 is expected to be in the range of $43 to $47 million, excluding the expected amortization of acquired intangible assets.
• Reaffirms minority investments are expected to contribute a $37 to $43 million benefit in 2024 to non-operating (expenses) income. Anticipates that $33 to $37 million of the benefit will come in the earnings on investments line and $4 to $6 million through the other (expense) income, net line.
• Reaffirms the effective tax rate on adjusted earnings1 for the full year 2024 is expected to be in the range of 28.5 to 30.5 percent. Significant changes in trading volume, expenses, tax laws or rates and other items could materially impact this expectation.
• Reaffirms capital expenditures for 2024 are expected to be in the range of $51 to $57 million.

Posted In: CBOE