Overview

* TMX Group ( TMXXF ) Q3 revenue rises 18% yr/yr, beating analyst expectations

* Adjusted EPS for Q3 beats consensus, reflecting strong operational performance

* TMX Group ( TMXXF ) completes acquisition of Verity

Outlook

* TMX Group ( TMXXF ) focuses on accelerating growth and delivering shareholder value in 2025

* Company highlights strategic focus on global growth and market ecosystem excellence

* TMX Group ( TMXXF ) sees positive impact from recent acquisitions on client offerings

Result Drivers

* DERIVATIVES AND GLOBAL INSIGHTS - Strong revenue growth driven by a 27% increase in derivatives trading and a 35% increase in TMX VettaFi

* FX IMPACT - Favorable foreign exchange impact due to stronger GBP and USD relative to CAD contributed to revenue increase

* ACQUISITIONS - Revenue boosted by acquisitions of Newsfile, iNDEX Research, Bond Indices, and ETF Stream

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat C$418.60 C$401

Revenue mln mln (4

Analysts

)

Q3 Beat C$0.52 C$0.47

Adjusted (7

EPS Analysts

)

Q3 EPS C$0.43

Q3 C$226.80

Operatin mln

g

Expenses

Q3 C$191.80

Income mln

from

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the financial & commodity market operators & service providers peer group is "buy"

* Wall Street's median 12-month price target for TMX Group Ltd ( TMXXF ) is C$61.00, about 18.3% above its October 27 closing price of C$49.83

* The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 28 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)