CME Group Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Interim Filing

Bottom line

CME Group Inc., identified by 0001156375 and trading under CME, delivered a stronger top line and a higher diluted earnings result in the three-month reporting period the three months ended March 31, 2026 than in the prior-year comparative the three months ended March 31, 2025, while operating profit also moved higher. The figures originate from the issuer's interim filing on 10-Q for fiscal period period-ended-2026-03-31, filed under accession 0001156375-26-000020. The comparison therefore rests entirely on what CME GROUP INC. itself disclosed in that single filing, with no peer, industry, or analyst data folded in. Readers looking for a parallel data point across another exchange operator can cross-check the trajectory against REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in period-ended filing for shape rather than magnitude, since the underlying businesses are not comparable.

For the three months covered by the three months ended March 31, 2026, the issuer reported revenues of $1,880,100,000 USD, an authorized increase versus $1,642,300,000 USD for the three months ended March 31, 2025. Operating income for the same three-month window reached $1,309,700,000 USD, also higher than the prior-year operating result of $1,108,000,000 USD, and the company remained in operating profit on both sides of the comparison. Diluted earnings per share for the current quarter came in at $3.18 per diluted share USD/SHARES, an authorized increase from $2.62 per diluted share USD/SHARES in the prior-year quarter, with the period moving from profit to profit rather than crossing into a loss.

The source scope is narrow and explicit. All reported figures are drawn from the line items in 10-Q for period-ended-2026-03-31, filed under accession 0001156375-26-000020, and are limited to the three-month reporting period identified as the three months ended March 31, 2026 together with its prior-year comparative the three months ended March 31, 2025. The filing's quoted disclosures cover contract volume, average rate per contract, forward-looking statements, and trademark information for CME Group's listed futures, options on futures, and event-contract businesses, but no segment-level detail, peer benchmark, or industry-wide comparable is included in the filing evidence for this section.

Because the only authoritative information available is what CME GROUP INC. itself disclosed in this interim report, the analysis is restricted to the authorized comparisons above. The filing evidence does not attribute this change to any single cause.. The filing evidence does not disclose segment-level detail for this dimension.. The filing evidence contains no peer or industry comparison..

Financial performance

- Reported facts - CME GROUP INC. 10-Q for period-ended-2026-03-31 (accession 0001156375-26-000020, CIK 0001156375, ticker CME) records Revenues of $1,880,100,000 USD for the three months ended March 31, 2026. The prior-year comparative line for the three months ended March 31, 2025 shows Revenues of $1,642,300,000 USD. Operating Income (Loss) is reported at $1,309,700,000 USD for the current three-month period, against $1,108,000,000 USD for the comparative window. Earnings Per Share, Diluted is reported at $3.18 per diluted share USD/SHARES for the three-month reporting period, against $2.62 per diluted share USD/SHARES for the prior-year three-month comparative. These six reported values are the load-bearing figures from the income statement that this section is allowed to assert, and each is cited above from the ledger.

- Management explanation - The filing carries a forward-looking-statements caution that these figures "are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict," and that actual outcomes may differ materially from any forward-looking statements. Readers are "caution[ed] not to place undue reliance on any forward-looking statements." Management does not, in the cited text, walk through the line items above one by one; the only narrative provided is the standard safe-harbor language. The two operative income-statement drivers — revenue and operating income — and the bottom-line diluted EPS are therefore presented as raw reported numbers, with the preparation context limited to the risk disclosure itself. The controls, legal-proceedings and exhibits scaffolding appears under the cited notes referenced as items one through six of the second part of the form, but those sections are procedural rather than drivers of earnings.

- Analyst inference (bounded by authorized comparisons only) - For the three months ended March 31, 2026 versus the three months ended March 31, 2025, Revenues are authorized to be described as higher than the prior period, with both periods profitable. Operating Income (Loss) is authorized to be described as higher than the prior period, with both periods profitable. Earnings Per Share, Diluted is authorized to be described as higher than the prior period, with both periods profitable. Investor tools such as an ROI Calculator are for separate modeling work and are not applied to the figures here. No other dimensional comparison is authorized for this filing.

- Counter-evidence and unresolved angles - The interim filing's risk-factor and legal-proceedings items (the cited items one and one-a) and the controls and market-risk disclosures (the cited items three and four) are not reproduced as financial drivers in the cited text, so no offsetting or contradictory financial line is offered that would undercut the income-statement figures summarized above. Segment-level detail is not provided in the cited passage; for any line where the filing does not break out a segment view, The filing evidence does not disclose segment-level detail for this dimension. applies. Peer or industry comparison is likewise absent from the cited evidence, so The filing evidence contains no peer or industry comparison. applies for any cross-issuer read-across a reader might attempt.

- Unknowns - For any change in Revenues, Operating Income (Loss) or Earnings Per Share, Diluted that a reader might want traced to a single operating driver, the filing as cited does not assign causation, and The filing evidence does not attribute this change to any single cause. governs that question. Guidance for the next quarter is not separately quantified inside the financial-performance paragraphs reviewed for this section, so forward-quarter expectations are limited to the forward-looking-statements caution reproduced above.

Operating drivers and segments

The interim report filed under 10-Q for period-ended-2026-03-31 by CME GROUP INC. (CME, accession 0001156375-26-000020, CIK 0001156375) presents consolidated results only. Revenue reached $1,880,100,000 USD for the three-month reporting period the three months ended March 31, 2026, against $1,642,300,000 USD for the prior-year comparative period the three months ended March 31, 2025, and operating income was $1,309,700,000 USD for the current period compared with $1,108,000,000 USD for the prior-year period. Both the top line and the operating line moved higher year over year, and both periods remain profitable, consistent with the filing continuing to generate an operating surplus rather than absorbing an operating loss. The filing does not disclose segment-level revenue, segment-level operating income or a segment-by-segment breakdown of the consolidated operating margin for this period, so trading, clearing, market-data and other listed activities cannot be weighted against each other on the evidence provided. The filing evidence does not disclose segment-level detail for this dimension.

The forward-looking statements section frames any discussion of future drivers in cautious language, noting that expectations, estimates, forecasts and projections about the industries in which CME GROUP INC. operates rest on management's beliefs and assumptions, that forward-looking statements are identified by terms such as "believe," "anticipate," "could," "estimate," "intend," "may," "plan," "expect" and similar expressions, and that actual outcomes and results may differ materially from what is expressed or implied. The same section reiterates that readers should not place undue reliance on any forward-looking statements. Inside the consolidated income statement itself, management does not attribute the year-over-year change in revenue or operating income to a specific driver, contract type, customer cohort, expense line or pricing trend. Because no segment-level operating data is provided in the filing, the consolidated operating income for the three months ended March 31, 2026 necessarily reflects an aggregated mix of listed activities without any disclosed weighting between them. The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison.

Independent observers cannot reconcile the year-over-year movement in operating income to any specific revenue stream or expense category, because the filing does not attribute the change to any single cause and does not disclose segment-level detail for this dimension. Readers comparing this snapshot with earlier quarterly patterns can place it alongside related interim filings, such as the REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing, to gauge how the consolidated operating margin behaves at other financial-sector issuers, recognising that those comparisons sit outside the filing evidence and carry no quantitative weight.

Cash flow and capital

Reported facts — The condensed consolidated statement of cash flows for CME GROUP INC. under 10-Q for period-ended-2026-03-31, filed at 0001156375-26-000020, shows three movement lines for the three-month reporting period. Net Cash Provided by (Used in) Operating Activities was $1,259,900,000 USD for the three months ended March 31, 2026 versus $1,116,600,000 USD for the three months ended March 31, 2025. Net Cash Provided by (Used in) Investing Activities was -$23,000,000 USD for the three months ended March 31, 2026 versus -$16,000,000 USD for the three months ended March 31, 2025. Net Cash Provided by (Used in) Financing Activities was $2,116,500,000 USD for the three months ended March 31, 2026 versus $19,211,400,000 USD for the three months ended March 31, 2025. Within those flows, Payments to Acquire Property, Plant, and Equipment was $21,800,000 USD for the three months ended March 31, 2026 versus $14,200,000 USD for the three months ended March 31, 2025, and Payments of Dividends was $2,697,600,000 USD for the three months ended March 31, 2026 versus $2,567,400,000 USD for the three months ended March 31, 2025. The interim balance sheet as of the balance sheet date of March 31, 2026 carries Cash and Cash Equivalents at Carrying Value of $2,391,200,000 USD, Accounts Receivable after Allow for Credit Loss, Current of $935,500,000 USD, and Accounts Payable, Current of $75,400,000 USD.

Authorized movements — Quarter-versus-quarter-prior-year comparisons that the filing evidence authorizes are: Net Cash Provided by (Used in) Operating Activities higher than the prior period; Net Cash Provided by (Used in) Investing Activities lower than the prior period (current and prior both negative); Net Cash Provided by (Used in) Financing Activities lower than the prior period; Payments of Dividends higher than the prior period; Payments to Acquire Property, Plant, and Equipment higher than the prior period. Earnings Per Share, Diluted, Revenues, and Operating Income (Loss) are higher than the prior period, with Diluted EPS and Operating Income remaining a profit to profit.

Management explanations — The filing's revenue recognition policy frames fee flows as collected upfront at trade execution, with a small residual recognized over the short-term contract life using estimates of average open-interest days, contract turnover, average daily revenue, and revenue remaining in open interest; volume tiers and market-maker incentives are folded into the estimated transaction price based on historical experience and best judgment. The narrative notes that cash performance bonds and guaranty fund contributions are reinvested and reported as restricted cash and restricted cash equivalents on the cash flow statement, with earnings flowing through investment income and the rebate to clearing firms sitting in other non-operating income (expense) on the income statement.

Analyst inference — Operating cash generation increased year over year, while investing outflows widened in the same direction, consistent with a heavier reinvestment quarter. Dividends paid and capital expenditures both stepped up, leaving financing activity lower year over year within an authorized decrease that is not here tied to any single instrument. The unrestricted cash position, receivables, and payables are stated at the balance sheet date without an authorized year-over-year direction for those three lines.

Counter-evidence — None cited in this filing.

Unknowns — The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison. The filing evidence does not disclose segment-level detail for this dimension.

Peer and historical context

Compared with the prior-year period, the three-month reporting period for CME GROUP INC. (CME) shows a uniformly higher top-line, higher profitability, and stronger cash generation from operations, each direction drawn from the filing rather than inferred from outside data.

- Revenues in the three months ended March 31, 2026 were higher than the prior-year comparative for the three months ended March 31, 2025, moving from $1,642,300,000 to $1,880,100,000, in line with the authorized direction recorded for this filing. - Operating Income (Loss) likewise moved higher year over year, rising from $1,108,000,000 to $1,309,700,000, with profitability preserved in both periods. - Net Cash Provided by (Used in) Operating Activities increased from $1,116,600,000 to $1,259,900,000, a direction consistent with the stronger earnings result and the authorized direction for this line.

Because the filing is presented as a single-issuer interim report under 10-Q for period-ended-2026-03-31 (0001156375-26-000020, CIK 0001156375), the historical frame is restricted to the company's own prior-year quarter; no multi-year trend, no seasonal benchmark, and no prior interim period is provided in the filing evidence for this comparison. The filing evidence contains no peer or industry comparison. Because the filing supplies no figures for other exchanges, alternative trading systems, or other derivatives venues, any peer ranking on revenue, operating margin, or operating cash conversion is not supported by the catalog and is therefore omitted here rather than estimated.

Readers who want a cross-issuer view of the broader interim-results pattern can compare the year-over-year direction reported here with the same direction in CME Group Posts Higher Revenue, Net Income, and Diluted EPS Year-Over-Year in Interim Filing, With Mixed Operating-Income Signal, which frames the same issuer's headline profit metrics alongside the cash-flow discussion in this section, and with REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing, which applies an analogous year-over-year lens to a different filer for context only — neither is offered as a like-for-like peer benchmark, because the filing evidence contains no industry comparison for CME GROUP INC..

The filing evidence does not attribute this change to any single cause. The narrative within the filing discusses revenue mix in terms of market data subscriptions, clearing-related fees, collateral management, and performance bond reinvestment, but it does not attribute the year-over-year lift in revenue, operating income, or operating cash flow to any single cause; the statement above is therefore the only causality language permitted in this section.

The trading-volume and average-daily-notional figures quoted in the source narrative were omitted from the catalog and are not reconstructed here, so the historical comparison rests solely on the three financial lines listed above and on the directional characterizations authorized for them.

Scenario analysis

In the base case, CME GROUP INC. period-ended-2026-03-31 under 10-Q (0001156375-26-000020, CME, 0001156375) sustains the revenue trajectory printed in the filing. Reported Revenues for the three months ended March 31, 2026 total $1,880,100,000, compared with $1,642,300,000 for the three months ended March 31, 2025, and the reported comparison records the current quarter as higher than the prior period. Operating Income remains a profit in both periods, the Diluted Earnings Per Share line stays a profit-to-profit transition, and Net Cash Provided by Operating Activities again expands year over year. The qualitative mechanics the filing itself leans on — monthly recognition under the equity membership subscription program, monthly recognition for strategic relationship arrangements, contract liabilities released as performance obligations are satisfied, and reinvestment of cash performance bonds and guaranty fund contributions at the Federal Reserve Bank of Chicago and in permitted instruments — carry forward into the base path. Readers wanting a peer check across recent exchange-operator filings can cross-reference CME Group Posts Higher Revenue, Net Income, and Diluted EPS Year-Over-Year in Interim Filing, With Mixed Operating-Income Signal for continuity in narrative tone.

In the upside case, the $1,880,100,000 figure widens its lead over $1,642,300,000, the Operating Income year-over-year gain strengthens, Diluted Earnings Per Share extends its profit-to-profit advance, and Net Cash Provided by Operating Activities grows more sharply against the prior period. The contract-liability roll-forward and the average daily mark-to-market transfer volume that the clearing house settles each business day both support a higher activity floor, while the equity membership subscription option and strategic-relationship monthly billing continue to smooth recognition. Investing Activities remain a net use of cash with the authorized decrease against the prior period, reflecting continued Payments to Acquire Property, Plant, and Equipment alongside intangible-asset balances disclosed at the relevant balance-sheet date; Financing Activities still register a smaller positive figure than the prior period as Payments of Dividends increase per the reported direction. As with the base path, The filing evidence does not attribute this change to any single cause. for any single driver behind the revenue delta.

In the downside case, Revenues for the three months ended March 31, 2026 at $1,880,100,000 still top $1,642,300,000 on the reported comparison, but the margin of improvement narrows, Operating Income moderates against the prior period, and Diluted Earnings Per Share retains only a modest profit-to-profit gain. Net Cash Provided by Operating Activities slows its year-over-year growth, Investing Activities widen their net outflow as Payments to Acquire Property, Plant, and Equipment increase, and Financing Activities compress further as Payments of Dividends rise and other financing line items contract. The fair value of the settlement guarantee liability, which management continues to assess as nominal and has not recorded at the relevant balance-sheet date, remains an unrecorded tail-risk buffer rather than an active contributor. As before, The filing evidence does not attribute this change to any single cause. for any single cause behind a softer revenue spread.

Risks and what to watch

The reported quarter shows revenues of $1,880,100,000 USD, higher than the prior-year comparative of $1,642,300,000 USD for the three months ended March 31, 2025, as disclosed in CME Group Inc.'s 10-Q for the three months ended March 31, 2026 filed under accession 0001156375-26-000020 by CME GROUP INC. (CME, CIK 0001156375). Because the revenue direction is one of the only fully reported comparisons for this section, any reading of upside or downside momentum from this figure alone should be treated with caution until additional periods confirm the trend.

The most prominent risk surface sits in the clearing and settlement architecture described in the source narrative. CME reinvests cash performance bonds and guaranty fund contributions in commercial deposits, government securities, reverse repurchase agreements, and money market funds, while distributing a portion of the interest earned back to clearing firms. Because reinvestment returns are partly passed through to counterparties, a sustained compression in money-market yields would mechanically reduce that interest distribution and could pressure the contribution captured within investment income and the related non-operating line. The Federal Reserve Bank of Chicago cash account, included within restricted cash on the consolidated statements of cash flows, ties a portion of that exposure directly to the rate environment in a way CME cannot diversify away.

Counterparty and tail-risk exposure remains structural rather than contingent on any single quarter. The clearing house marks-to-market open positions daily (twice daily for futures and options), and the worst-case simultaneous-default scenario caps futures exposure at roughly half a business day of fair-value change and interest rate swap exposure at roughly one full business day, before collateral access is considered. Management's own assessment concludes the guarantee liability is nominal, with no recorded liability at the cited March and December balance-sheet dates, no allowance for credit losses on performance bond deposits, and no off-balance-sheet allowance for guarantees. This is supportive framing, but the absence of recorded provisions should be read alongside the assumption that collateral is fully accessible in stress, which is itself an unresolved assumption in stressed regimes. Investors who compare this quarter's results with peer filings such as REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in the reporting period Filing or the recent CME Group Posts Higher Revenue, Net Income, and Diluted EPS Year-Over-Year in Interim Filing, With Mixed Operating-Income Signal should note that The filing evidence contains no peer or industry comparison. within this filing evidence set, so any peer-relative judgment is the reader's own, not a derived conclusion here.

Several dimensions remain undisclosed. The filing does not provide segment-level revenue or expense detail in the quoted text, so The filing evidence does not disclose segment-level detail for this dimension. applies. Intangible-asset composition by clearing firm, market, and similar categories is partially shown in the narrative, but the surrounding context was cut, leaving amortization, weighted-average life, and impairment exposure unresolved.

Metrics to watch next period include the spread between investment income and the corresponding interest distribution expense, any change in the mark-to-market frequency or risk-buffer calibration for cleared interest rate swaps, the carrying value of amortizable intangibles versus prior period, and whether revenues continue to extend the higher direction relative to the prior-year comparative without a deterioration in the operating-income margin profile.