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Financial services earnings roundup, May 4

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Financial services earnings roundup, May 4

With earnings season in gear,S&P Global Market Intelligence presents a snapshot of recently reported financialresults for companies in the financial services space.

Broker/dealer

first-quarter net incomeattributable to the company of $369 million, or $3.08 per share, up from $315 million,or $2.80 per share, in the year-ago quarter.

Adjustednet income attributable to the company was $441 million, or $3.68 per share, anincrease from $344 million, or $3.06 per share, in the prior-year quarter. Adjustedfigures exclude amortization of acquisition-related intangibles, and Interactive Data transaction and integration-relatedexpenses and other adjustments that are not reflective of ICE's cash operationsor core business performance, and the related tax impact.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was $3.66.

ICE alsoupdated its financialguidance for 2016. The company expects its data services revenues to climb between6% and 7%, compared to 2015 pro forma data services revenues. Adjusted operatingexpenses are projected to be between $1.97 billion and $2.0 billion, including second-quarteradjusted operating expenses of between $495 million and $505 million. Expense synergiesare anticipated to be in the range of $85 million to $90 million in 2016.


first-quarter net income availableto common shareholders of $10.3 million, or 26 cents per share.

Normalizedadjusted net income for the period was $42.7 million, or 31 cents per share, comparedwith $58.4 million, or 42 cents per share, in the year-ago period.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was 35 cents.


Financial technology

first-quarter GAAP netincome of $110.0 million, or $1.17 per share, an increase from $94.2 million, or$1.00 per share, in the year-ago quarter.

Adjustednet income came in at $144.3 million, or $1.53 per share, compared with $135.9 million,or $1.45 per share, a year ago.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was $1.50.

The companyalso revised part of its full-year 2016 outlook.FleetCor still expects total revenues to be between $1.73 billion and $1.78 billion.The company raised its guidance for adjusted net income, now expecting it to bebetween $608 million and $628 million. Adjusted net income per share is now anticipatedto be between $6.43 and $6.63.

The S&PCapital IQ consensus normalized EPS estimate for 2016 is $6.61.


Investment company

a first-quarter GAAP netloss available to common stockholders of $885.9 million, or a loss of 96 cents pershare, compared with a GAAP net loss available to common stockholders of $494.4million, or 52 cents per share, in the year-ago quarter.

Coreearnings for the quarter decreased to $123.3 million, or 11 cents per share, from$254.1 million, or 25 cents per share, in the prior-year quarter.

Normalizedcore earnings for the quarter were $291.8 million, or 30 cents per share, comparedwith $342.0 million, or 34 cents per share, a year earlier. The year-over-year declinewas due to a reduction in normalized interest income earned on lower residentialinvestment securities balances, partially offset by increased interest income ona larger commercial investment portfolio during the quarter.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was 31 cents.


first-quarter GAAP net income of$131.5 million, or 42 cents per share, up from $100.6 million, or 32 cents per share,in the year-ago quarter.

On anon-GAAP basis, core EPS was 37 cents, unchanged from the year-ago quarter.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was 39 cents.


reported first-quarternet income attributable to common stockholders of $111.7 million, or 48 cents pershare, compared with $103.0 million, or 45 cents per share, in the previous quarter.

Coreearnings for the period were $112.4 million, or 49 cents per share, down from $120.4million, or 52 cents per share, in the previous quarter.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was 50 cents.


a first-quarter GAAP netloss of $88.9 million, or 25 cents per share, compared with net income of $94.8 million, or 26 cents per share, in theprior-year quarter.

Coreearnings for the period were $71.8 million, or 21 cents per share, down from $94.1million, or 26 cents per share, a year ago.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was 21 cents.


Specialty lender

first-quarter GAAP net incomeattributable to the company of $153 million, or $1.13 per share.

First-quarternet income includes a $229 million pretax net gain on the sale of the company'sstake in SpringCastle.

The companyreported after-tax core earnings, a non-GAAP measure, of $141 million, or $1.05per share, in the first quarter, compared with $64 million, or 55 cents per share,in the year-ago quarter.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was $1.08.


first-quarter net income of $36.3million, or 46 cents per share, down from $43.3 million, or 53 cents per share,in the year-ago quarter.

Adjustednet income was $44.1 million, or 56 cents per share, compared with $50.5 million,or 62 cents per share, a year ago.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was 47 cents.


reported a first-quarternet loss attributable to the company of $132.4 million, or $1.28 per share, comparedto net income of $78.9 million, or 73 cents per share, in the fourth quarter of2015.

Adjustedearnings for the quarter were $27.6 million, or 27 cents per share, compared to$34.3 million, or 32 cents per share, in the linked quarter.

The S&PCapital IQ consensus normalized EPS estimate for the first quarter was 33 cents.