Intercontinental Exchange Inc.NYSE: ICE

Intercontinental Exchange Reports Third Quarter 2026

· Issued by Intercontinental Exchange Inc. via Business Wire

Summary by 6ix AI

Intercontinental Exchange (ICE), which runs exchanges including the New York Stock Exchange and provides financial technology and data, reported net income attributable to ICE of $940 million on net revenues of $2.8 billion for the third quarter ended September 30, 2026. Diluted earnings per share under standard accounting rules (GAAP) were $1.67, up 18% year over year.

Key details

  • Adjusted figures, which exclude items the company views as not reflecting core performance: adjusted net income attributable to ICE of $1.1 billion and adjusted diluted EPS of $2.02, up 18% year over year, for the third quarter of 2026.
  • Third-quarter 2026 operating income was $1.4 billion, up 20% year over year, with a 51% operating margin; net revenues were $1.5 billion from exchanges, $674 million from fixed income and data services and $549 million from mortgage technology.
  • Through September 30, 2026, ICE returned $2.5 billion to stockholders, including $1.6 billion in share repurchases and $884 million in dividends; it had unrestricted cash of $936 million and outstanding debt of $23.3 billion as of September 30, 2026.
  • On October 21, 2026, the Department of Justice and the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Act (a US antitrust review law), satisfying that condition for ICE's acquisition of MarketAxess Holdings Inc.
  • Updated guidance includes 9% growth in 2026 exchange recurring revenue, 8% growth in 2026 fixed income and data services recurring revenue, and fourth-quarter 2026 GAAP operating expenses of $1.317 - $1.327 billion.

What’s still pending

  • The MarketAxess merger remains subject to remaining customary closing conditions and approvals and the receipt of other required regulatory approvals.
  • ICE now expects the MarketAxess merger to close in the first quarter of 2027, ahead of the first-half of 2027 timeline it gave in July.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/intercontinental-exchange-reports-third-quarter-2026

Watch Intercontinental Exchange explain itIntercontinental Exchange (NYSE:ICE) Q3 2026 Earnings Call · Replay · Oct 29, 2026 · From 2:00 · Third-Quarter Results and Capital Returns

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange (NYSE: ICE):

  • 3Q26 net revenues of $2.8 billion, +15% y/y
  • 3Q26 GAAP diluted earnings per share (EPS) of $1.67, +18% y/y
  • 3Q26 adj. diluted EPS of $2.02, +18% y/y
  • 3Q26 operating income of $1.4 billion, +20% y/y; adj. operating income of $1.7 billion, +19% y/y
  • 3Q26 operating margin of 51%; adj. operating margin of 61%
  • Through September 30, 2026, returned $2.5 billion to stockholders, including $1.6 billion in share repurchases

Jeff Sprecher,

ICE Chair & Chief Executive Officer, said,
"We're pleased to report the best third quarter in ICE's history, with revenues, operating income and earnings per share each growing by double digits. Our customers come to ICE to manage risk, to connect with one another, to access our data and to run critical parts of their business on our platforms. They want to trade, hedge and access data whenever markets are moving, and we're building our networks to meet them there. Looking ahead, we'll keep expanding our markets, data and technology to meet our customers' needs, and we enter the fourth quarter with strong momentum."

Intercontinental Exchange (NYSE: ICE), a leading global provider of technology and data, today reported financial results for the third quarter of 2026. For the quarter ended September 30, 2026, consolidated net income attributable to ICE was $940 million on $2.8 billion of consolidated revenues, less transaction-based expenses. Third quarter GAAP diluted EPS were $1.67. Adjusted net income attributable to ICE was $1.1 billion in the third quarter and adjusted diluted EPS were $2.02. Please refer to the reconciliation of non-GAAP financial measures included in this press release for more information on our adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income, adjusted diluted EPS and adjusted free cash flow.

Warren Gardiner, ICE Chief Financial Officer, added: "Through the first nine months of the year, we've delivered record revenues, adjusted operating income and adjusted earnings per share, underscoring the strength and durability of our business model. Our strong and growing cash flows enabled us to return a record $2.5 billion to stockholders year to date, including a record $1.6 billion of share repurchases, while continuing to invest in strategic growth initiatives. As we look to the balance of the year and into 2027, we expect to continue returning capital to stockholders alongside our deleveraging plan following the close of MarketAxess, extending our track record of growth and value creation."

Third Quarter 2026 Business Highlights

Third quarter consolidated net revenues were $2.8 billion including exchange net revenues of $1.5 billion, fixed income and data services revenues of $674 million and mortgage technology revenues of $549 million. Consolidated operating expenses were $1.4 billion for the third quarter of 2026. On an adjusted basis, consolidated operating expenses were $1.1 billion. Consolidated operating income for the third quarter was $1.4 billion, and the operating margin was 51%. On an adjusted basis, consolidated operating income for the third quarter was $1.7 billion, and the adjusted operating margin was 61%.

$ (in millions)

Net
Revenues

Op
Margin

Adj Op
Margin

3Q26

Exchanges

$

1,542

75

%

76

%

Fixed Income and Data Services

$

674

36

%

46

%

Mortgage Technology

$

549

2

%

40

%

Consolidated

$

2,765

51

%

61

%

3Q26

3Q25

% Chg

Recurring Revenues

$

1,365

$

1,275

7

%

Transaction Revenues, net

$

1,400

$

1,136

23

%

Exchanges Segment Results

Third quarter exchange net revenues were $1.5 billion. Exchange operating expenses were $390 million, and adjusted operating expenses were $373 million in the third quarter. Segment operating income for the third quarter was $1.2 billion, and the operating margin was 75%. On an adjusted basis, operating income was $1.2 billion, and the adjusted operating margin was 76%.

$ (in millions)

3Q26

3Q25

% Chg

Const
Curr(1)

Revenues, net:

Energy

$

603

$

482

25

%

26

%

Ags and Metals

83

51

62

%

62

%

Financials(2)

190

139

37

%

37

%

Cash Equities and Equity Options, net

132

105

25

%

25

%

OTC and Other(3)

112

99

13

%

14

%

Data and Connectivity Services

292

264

10

%

10

%

Listings

130

125

4

%

4

%

Segment Revenues

$

1,542

$

1,265

22

%

22

%

Recurring Revenues

$

422

$

389

8

%

8

%

Transaction Revenues, net

$

1,120

$

876

28

%

28

%

(1) Net revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 3Q25, 1.3488 and 1.1689, respectively.

(2) Financials include interest rates and other financial futures and options.

(3) OTC & Other includes net interest income and fees on certain clearing margin deposits, regulatory penalties and fines, fees for use of our facilities, regulatory fees charged to member organizations of our U.S. securities exchanges, designated market maker service fees, exchange member fees, bilateral trading fees, non-exchange execution revenue, electronic trade document confirmation services, and agriculture grading and certification fees.

Fixed Income and Data Services Segment Results

Third quarter fixed income and data services revenues were $674 million. Fixed income and data services operating expenses were $429 million, and adjusted operating expenses were $365 million in the third quarter. Segment operating income for the third quarter was $245 million, and the operating margin was 36%. On an adjusted basis, operating income was $309 million, and the adjusted operating margin was 46%.

$ (in millions)

3Q26

3Q25

% Chg

Const
Curr(1)

Revenues:

Fixed Income Execution

$

34

$

33

5

%

5

%

CDS Clearing

102

90

12

%

13

%

Fixed Income Data and Analytics

336

311

8

%

8

%

Data and Network Technology

202

184

10

%

10

%

Segment Revenues

$

674

$

618

9

%

9

%

Recurring Revenues

$

538

$

495

9

%

9

%

Transaction Revenues

$

136

$

123

10

%

11

%

(1) Revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 3Q25, 1.3488 and 1.1689, respectively.

Mortgage Technology Segment Results

Third quarter mortgage technology revenues were $549 million. Mortgage technology operating expenses were $536 million, and adjusted operating expenses were $330 million in the third quarter. Segment operating income for the third quarter was $13 million, and the operating margin was 2%. On an adjusted basis, operating income was $219 million, and the adjusted operating margin was 40%.

$ (in millions)

3Q26

3Q25

% Chg

Revenues:

Origination Technology

$

189

$

188

1

%

Closing Solutions

60

58

4

%

Servicing Software

229

216

6

%

Data and Analytics

71

66

6

%

Segment Revenues

$

549

$

528

4

%

Recurring Revenues

$

405

$

391

4

%

Transaction Revenues

$

144

$

137

4

%

Other Matters

  • Operating cash flow through the third quarter of 2026 was $4.5 billion and adjusted free cash flow was $3.7 billion.
  • Unrestricted cash was $936 million and outstanding debt was $23.3 billion as of September 30, 2026.
  • Through the third quarter of 2026, ICE repurchased $1.6 billion of its common stock and paid $884 million in dividends.
  • On October 21, 2026, the Department of Justice and the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), effective as of October 21, 2026, satisfying the HSR Act condition in ICE’s acquisition of MarketAxess Holdings Inc. The merger remains subject to the remaining customary closing conditions and approvals and the receipt of other required regulatory approvals. Based on the HSR Act approval, ICE now expects the merger to close in the first quarter of 2027 ahead of the first-half of 2027 timeline ICE announced in July.

Updated Financial Guidance

GAAP

Non-GAAP

2026 Exchange Recurring Revenue (% growth)

9%

2026 Fixed Income & Data Services Recurring Revenue (% growth)

8%

4Q26 Operating Expenses

$1.317 - $1.327 billion

$1.082 - $1.092 billion(1)

4Q26 Non-Operating Expense

$170 - $180 million

$175 - $185 million(2)

2026 Capital Expenditures

~$1.050 billion

4Q26 Weighted Average Shares Outstanding

558 - 563 million

(1) 4Q26 non-GAAP operating expenses excludes amortization of acquisition-related intangibles.

(2) Adjusted non-operating expense excludes equity earnings from unconsolidated investees and net interest on pre-acquisition-related debt.

Earnings Conference Call Information

ICE will hold a conference call today, October 29, 2026, at 8:30 a.m. ET to review its third quarter 2026 financial results. A live audio webcast of the earnings call will be available on the company's website at www.ice.com in the investor relations section. Participants may also listen via telephone by dialing 833-461-5787 from the United States or 585-542-9983 from outside of the United States. Telephone participants are required to provide the participant entry number 272521750 and are recommended to call 10 minutes prior to the start of the call. The call will be archived on the company's website for replay.

The conference call for the fourth quarter 2026 earnings has been scheduled for February 4th, 2027 at 8:30 a.m. ET. Please refer to the Investor Relations website at www.ir.theice.com for additional information.

Historical futures, options and cash ADV, rate per contract, open interest data and CDS cleared information can be found at: https://ir.theice.com/investor-resources/supplemental-information/default.aspx

 

Consolidated Statements of Income

(In millions, except per share amounts)

(Unaudited)

Nine Months Ended
September 30,

Three Months Ended
September 30,

Revenues:

2026

2025

2026

2025

Exchanges

$

7,286

$

6,118

$

2,407

$

1,861

Fixed income and data services

1,976

1,811

674

618

Mortgage technology

1,645

1,569

549

528

Total revenues

10,907

9,498

3,630

3,007

Transaction-based expenses:

Section 31 fees

571

412

283

—

Cash liquidity payments, routing and clearing

1,928

1,659

582

596

Total revenues, less transaction-based expenses

8,408

7,427

2,765

2,411

Operating expenses:

Compensation and benefits

1,540

1,463

526

483

Professional services

109

120

37

39

Acquisition-related transaction and integration costs

102

51

49

9

Technology and communication

725

647

245

219

Rent and occupancy

72

64

25

23

Selling, general and administrative

222

219

74

77

Depreciation and amortization

1,172

1,171

399

387

Total operating expenses

3,942

3,735

1,355

1,237

Operating income

4,466

3,692

1,410

1,174

Other income/(expense):

Interest income

94

92

43

28

Interest expense

(630

)

(599

)

(222

)

(192

)

Other income, net

496

95

11

71

Total other income/(expense), net

(40

)

(412

)

(168

)

(93

)

Income before income tax expense

4,426

3,280

1,242

1,081

Income tax expense

1,063

772

286

250

Net income

$

3,363

$

2,508

$

956

$

831

Net income attributable to non-controlling interests

(52

)

(44

)

(16

)

(15

)

Net income attributable to Intercontinental Exchange, Inc.

$

3,311

$

2,464

$

940

$

816

Earnings per share attributable to Intercontinental Exchange, Inc. common stockholders:

Basic

$

5.87

$

4.30

$

1.68

$

1.43

Diluted

$

5.85

$

4.28

$

1.67

$

1.42

Weighted average common shares outstanding:

Basic

564

573

561

572

Diluted

566

576

563

574

Consolidated Balance Sheets

(In millions)

 

As of

September 30, 2026
(Unaudited)

As of
December 31, 2025

Assets:

Current assets:

Cash and cash equivalents

$

936

$

837

Short-term restricted cash and cash equivalents

4,226

748

Short-term restricted investments

1,005

629

Cash and cash equivalent margin deposits and guaranty funds

113,274

76,789

Invested deposits, delivery contracts receivable and unsettled variation margin

2,811

4,437

Customer accounts receivable, net

1,879

1,552

Prepaid expenses and other current assets

756

786

Total current assets

124,887

85,778

Property and equipment, net

2,972

2,691

Other non-current assets:

Goodwill

30,664

30,646

Other intangible assets, net

14,656

15,353

Long-term restricted cash and cash equivalents

260

240

Long-term restricted investments

136

141

Other non-current assets

3,455

2,038

Total other non-current assets

49,171

48,418

Total assets

$

177,030

$

136,887

Liabilities and Equity:

Current liabilities:

Accounts payable and accrued liabilities

$

1,187

$

1,078

Section 31 fees payable

94

—

Accrued salaries and benefits

386

455

Deferred revenue

416

204

Short-term debt

2,959

1,035

Margin deposits and guaranty funds

113,274

76,789

Invested deposits, delivery contracts payable and unsettled variation margin

2,811

4,437

Other current liabilities

174

118

Total current liabilities

121,301

84,116

Non-current liabilities:

Non-current deferred tax liability, net

4,133

3,998

Long-term debt

20,345

18,609

Accrued employee benefits

178

174

Non-current operating lease liability

685

635

Other non-current liabilities

411

364

Total non-current liabilities

25,752

23,780

Total liabilities

147,053

107,896

Commitments and contingencies

Redeemable non-controlling interest in consolidated subsidiaries

30

22

Equity:

Intercontinental Exchange, Inc. stockholders’ equity:

Common stock

7

7

Treasury stock, at cost

(9,505

)

(7,792

)

Additional paid-in capital

16,952

16,643

Retained earnings

22,708

20,281

Accumulated other comprehensive loss

(263

)

(224

)

Total Intercontinental Exchange, Inc. stockholders’ equity

29,899

28,915

Non-controlling interest in consolidated subsidiaries

48

54

Total equity

29,947

28,969

Total liabilities and equity

$

177,030

$

136,887

Non-GAAP Financial Measures and Reconciliation

We use certain financial measures internally to evaluate our performance and make financial and operational decisions that are presented in a manner that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. We use these adjusted results because we believe they more clearly highlight trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since these measures eliminate from our results specific financial items that have less bearing on our core operating performance. We use these measures in communicating certain aspects of our results and performance, including in our Quarterly Report on Form 10-Q, and believe that these measures, when viewed in conjunction with our GAAP results and the accompanying reconciliation, can provide investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of these measures is useful to investors for making period-to-period comparisons of results because the adjustments to GAAP are not reflective of our core business performance. These financial measures are not presented in accordance with, or as an alternative to, GAAP financial measures and may be different from non-GAAP measures used by other companies. We encourage investors to review the GAAP financial measures included in our Quarterly Report on Form10-Q, including our consolidated financial statements, to aid in their analysis and understanding of our performance and in making comparisons. The tables below outline our adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income attributable to ICE, and adjusted diluted earnings per share attributable to ICE common stockholders, which are non-GAAP measures that are calculated by making adjustments for items we view as not reflective of our cash operations or core business performance.

Non-GAAP Liquidity Measures and Reconciliation

We consider free cash flow and adjusted free cash flow to be non-GAAP liquidity measures that provide useful information to management and investors to analyze cash resources generated from our operations. We believe that free cash flow and adjusted free cash flow are useful as the bases for comparing our performance to that of our competitors and demonstrates our ability to convert the reinvestment of capital expenditures and capitalized software development costs required to maintain and grow our business, as well as adjust for timing differences related to the payment of Section 31 fees. These non-GAAP liquidity measures are not presented in accordance with, or as an alternative to, GAAP liquidity measures and may be different from non-GAAP measures used by other companies. The table below presents free cash flow and adjusted free cash flow, including the related adjustments.

 

Adjusted Operating Income, Operating Margin and Operating Expense Reconciliation

(In millions)

(Unaudited)

Exchanges
Segment

Fixed Income
and Data
Services
Segment

Mortgage
Technology
Segment

Consolidated

Nine Months Ended September 30,

2026

2025

2026

2025

2026

2025

2026

2025

Total revenues, less transaction-based expenses

$

4,787

$

4,047

$

1,976

$

1,811

$

1,645

$

1,569

$

8,408

$

7,427

Operating expenses

1,154

1,064

1,188

1,108

1,600

1,563

3,942

3,735

Less: Amortization of acquisition-related intangibles

49

48

109

113

555

594

713

755

Less: Transaction and integration costs

—

—

28

—

70

48

98

48

Less/(Add): Regulatory matters

—

4

(10

)

—

—

—

(10

)

4

Adjusted operating expenses

$

1,105

$

1,012

$

1,061

$

995

$

975

$

921

$

3,141

$

2,928

Operating income

$

3,633

$

2,983

$

788

$

703

$

45

$

6

$

4,466

$

3,692

Adjusted operating income

$

3,682

$

3,035

$

915

$

816

$

670

$

648

$

5,267

$

4,499

Operating margin

76

%

74

%

40

%

39

%

3

%

—

%

53

%

50

%

Adjusted operating margin

77

%

75

%

46

%

45

%

41

%

41

%

63

%

61

%

Adjusted Operating Income, Operating Margin and Operating Expense Reconciliation

(In millions)

(Unaudited)

Exchanges
Segment

Fixed Income
and Data
Services
Segment

Mortgage
Technology

Segment

Consolidated

Three Months Ended September 30,

2026

2025

2026

2025

2026

2025

2026

2025

Total revenues, less transaction-based expenses

$

1,542

$

1,265

$

674

$

618

$

549

$

528

$

2,765

$

2,411

Operating expenses

390

357

429

374

536

506

1,355

1,237

Less: Amortization of acquisition-related intangibles

17

16

36

38

186

195

239

249

Less: Transaction and integration costs

—

—

28

—

20

7

48

7

Adjusted operating expenses

$

373

$

341

$

365

$

336

$

330

$

304

$

1,068

$

981

Operating income

$

1,152

$

908

$

245

$

244

$

13

$

22

$

1,410

$

1,174

Adjusted operating income

$

1,169

$

924

$

309

$

282

$

219

$

224

$

1,697

$

1,430

Operating margin

75

%

72

%

36

%

39

%

2

%

4

%

51

%

49

%

Adjusted operating margin

76

%

73

%

46

%

45

%

40

%

42

%

61

%

59

%

Adjusted Net Income Attributable to ICE and Diluted EPS

(In millions)

(Unaudited)

Nine Months Ended
September 30, 2026

Nine Months Ended
September 30, 2025

Net income attributable to ICE

$

3,311

$

2,464

Add: Amortization of acquisition-related intangibles

713

755

Add: Transaction and integration costs

98

48

(Less)/Add: Regulatory matters

(10

)

4

Less: Net income from unconsolidated investees

(59

)

(75

)

Less: Fair value adjustments of equity investments

(452

)

(35

)

Add: Net interest expense on pre-acquisition-related debt

6

—

Less: Income tax effect for the above items

(77

)

(180

)

Add: Deferred tax adjustments on acquisition-related intangibles

18

45

Less: Other tax adjustments

—

(8

)

Adjusted net income attributable to ICE

$

3,548

$

3,018

Diluted earnings per share attributable to ICE common stockholders

$

5.85

$

4.28

Adjusted diluted earnings per share attributable to ICE common stockholders

$

6.27

$

5.24

Diluted weighted average common shares outstanding

566

576

Adjusted Net Income Attributable to ICE and Diluted EPS

(In millions)

(Unaudited)

Three Months Ended
September 30, 2026

Three Months Ended
September 30, 2025

Net income attributable to ICE

$

940

$

816

Add: Amortization of acquisition-related intangibles

239

249

Add: Transaction and integration costs

48

7

Less: Net income from unconsolidated investees

(16

)

(40

)

Less: Fair value adjustments of equity investments

—

(33

)

Add: Net interest expense on pre-acquisition-related debt

6

—

Less: Income tax effect for the above items

(72

)

(50

)

(Less)/Add: Deferred tax adjustments on acquisition-related intangibles

(9

)

39

Less: Other tax adjustments

—

(8

)

Adjusted net income attributable to ICE

$

1,136

$

980

Diluted earnings per share attributable to ICE common stockholders

$

1.67

$

1.42

Adjusted diluted earnings per share attributable to ICE common stockholders

$

2.02

$

1.71

Diluted weighted average common shares outstanding

563

574

Adjusted Free Cash Flow Calculation

(In millions)

(Unaudited)

Nine Months Ended
September 30, 2026

Nine Months Ended
September 30, 2025

Net cash provided by operating activities

$

4,486

$

3,387

Less: Capital expenditures

(318

)

(207

)

Less: Capitalized software development costs

(346

)

(318

)

Free cash flow

$

3,822

$

2,862

(Less)/Add: Section 31 fees, net

(94

)

316

Adjusted free cash flow

$

3,728

$

3,178

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at https://www.ice.com/privacy-security-center/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in Intercontinental Exchange, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 5, 2026. We caution you not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of an unanticipated event. New factors emerge from time to time, and it is not possible for management to predict all factors that may affect our business and prospects. Further, management cannot assess the impact of each factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Category: Corporate

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