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Tmx Group Ltd TSX: X-T

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TMX Group third-quarter profits, revenues increase by double digits

Canadian Press - Mon Nov 8, 2021
A man watches the financial numbers at the TMX Group in Toronto's financial district in a May 9, 2014 photo. THE CANADIAN PRESS/Darren Calabrese

TORONTO — TMX Group Ltd. says its net income increased 10 per cent in the third quarter from a year ago on increased trading activity that elevated revenues.

The company, which operates the Toronto Stock Exchange, says its net income was $76.9 million or $1.36 per diluted share, up from $70 million or $1.23 per share a year earlier.

Adjusted profits were $88.7 million or $1.57 per diluted share, compared with $80 million or $1.40 per share in the third quarter of 2020.

Revenues for the three months ended Sept. 30 were $231.3 million, up 11 per cent from $207.6 million in the year-earlier quarter.

TMX was expected to report $1.59 per diluted share in adjusted profits on $232 million of revenues, according to financial data firm Refinitiv.

Cash flows from operating activities increased 16 per cent to $117.7 million, from $101.7 million in the third quarter of 2020.

“We are extremely pleased with TMX’s strong performance in the quarter, as we achieved double-digit top and bottom-line growth with contributions from across the enterprise, including capital formation, derivatives and Trayport," stated CEO John McKenzie.

This report by The Canadian Press was first published Nov. 8, 2021.

Companies in this story: (TSX:X)

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