Cboe Global Markets Reiterated FY24 Organic Net Revenue Growth of 5%-7%, Organic Net Revenue from Data and Access Solutions Growth of 7%-10%, Capex of $51M-$57M

2024 Fiscal Year Financial Guidance

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

• Anticipates higher end of organic total net revenue growth1 range of 5 to 7 percentage points in 2024, at the higher end of Cboe's medium-term organic total net revenue1 guidance expectations of 5 to 7 percentage points.
• Reaffirms organic net revenue1 from Data and Access Solutions is expected to increase by approximately 7 to 10 percentage points in 2024, in line with medium-term guidance expectations of 7 to 10 percentage points.
• Adjusted operating expenses1 in 2024 are now expected to be in the range of $795 to $805 million, down from previous guidance of $798 to $808 million. The guidance excludes the expected amortization of acquired intangible assets of $93 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 income. Anticipates that $33 to $37 million of the benefit will come in the earnings in investments line and $4 to $6 million through the other 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.