Cboe Global Markets, Inc. (CBOE) Earnings Call Transcripts
Cboe Global Markets, Inc.'s Latest Earnings Call - September 16, 2026
In the Q3 2026 earnings call for Cboe Global Markets, Inc. (CBOE), management highlighted a strategic realignment focusing on core derivatives and data businesses, which has led to significant growth opportunities. Revenue for the quarter reached $500 million, with earnings per share (EPS) of $1.25, both exceeding analyst expectations. Management maintained a positive outlook, emphasizing ongoing growth in retail trading activity and the successful rollout of new products, including KPI contracts, which are expected to drive future revenue growth.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $500M (beat) |
| EPS | $1.25 (beat) |
| Adjusted Operating EBITDA Margin | 72% (positive) |
| Data Vantage Growth | 30% YoY (positive) |
| Retail Trading Volume | 5M contracts (positive) |
| International Client Demand | 50% of new sales (positive) |
Guidance from management
Management maintained a positive outlook for the remainder of 2026, expecting continued growth in both retail and institutional trading volumes, particularly with the introduction of new products. They indicated that the KPI contracts would be launched in Q4 2026, pending regulatory approval.
What management said
And just to Craig's point, we do generate a healthy amount of free cash flow, which is a wonderful thing. I actually quite like the balance sheet flexibility we have. I think it's just consistent with prior messaging in that we look to deploy capital in multiple ways. First is the quarterly dividend. So -- we do have a history of increasing that quarterly dividend. We just did so this past August, took it up 19%. We ...
What analysts pressed on
Analysts expressed concerns regarding the sustainability of retail trading volumes and the potential impact of increased competition in the derivatives market. There were also questions about the timeline for regulatory approvals and how that might affect product launches.
Main topics on the call
- Strategic Realignment — Cboe has undergone a strategic realignment to focus on core businesses, particularly derivatives and data analytics. CEO Craig Donohue stated, "We exited a lot of the cash equities businesses that were quite marginal," a...
- Retail Trading Activity — Management reported a significant increase in retail trading activity, particularly following the lifting of pattern day trading restrictions. Donohue noted, "We had a fairly arbitrary limitation on the amount of trading...
- KPI Contracts Launch — Cboe is set to launch KPI contracts, which are expected to attract both retail and institutional traders. Donohue expressed excitement about these products, stating they will allow trading on "individual metrics that dri...
- Data Vantage Growth — Data Vantage continues to show strong growth, driven by increased demand for connectivity and market data. Management highlighted that "about 2/3 of Data Vantage is connectivity and access to our core exchanges," indicat...
Read the full Cboe Global Markets, Inc. transcript (September 16, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (CBOE) is a publicly listed company in the Capital Markets industry, within the Financials sector. It trades on BATS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 72 calls on record spanning February 7, 2020 to September 16, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 72 Cboe Global Markets, Inc. earnings call transcripts on record, spanning February 7, 2020 to September 16, 2026. Based on this history, Cboe Global Markets, Inc. reports quarterly. The most recent call on file is dated September 16, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- CBOE
- Exchange
- BATS
- Country
- US
- Sector
- Financials
- Industry
- Capital Markets
- Calls on record
- 72
- First call
- February 7, 2020
- Most recent
- September 16, 2026
- Reporting cadence
- quarterly