The call presented a strong performance with record revenue and growth across multiple segments. However, there were challenges such as a decrease in diluted EPS due to foreign exchange impacts and increased operating expenses. Despite these issues, the overall growth and strategic initiatives indicate a positive outlook.

Company Guidance

During the TMX Group Limited Second Quarter 2025 Results Conference Call, the company showcased an impressive performance with a 15% year-over-year revenue increase, reaching a record $421.7 million. Key highlights included a 33% growth in Derivatives Trading and Clearing revenue, a 26% increase in TMX Trayport, and an 18% rise in equities and fixed income trading revenue. TMX VettaFi also demonstrated strong momentum with a 17% revenue growth. Despite a 28% decline in diluted earnings per share due to noncash foreign exchange impacts, adjusted diluted earnings per share rose by 21% following a 17% increase in income from operations. The company also reported a robust 18% revenue growth in the first half of 2025 compared to the same period in 2024, driven by a 35% increase in derivatives volumes and 12% growth in equities and fixed income trading. Additionally, TMX Group maintained a disciplined capital strategy, with a debt to adjusted EBITDA ratio of 2.4x and a 10% increase in quarterly dividends, reflecting a strong commitment to shareholder returns.

Record Revenue Performance

TMX Group delivered a record revenue of $421.7 million in Q2 2025, a robust 15% increase year-over-year, driven by strong performance across multiple business segments.

Strong Growth in Derivatives Trading and Clearing

Revenue from derivatives trading and clearing increased 33%, with a 29% year-over-year growth excluding BOX. Montreal Exchange trading grew 34% and CDCC revenue grew 21%.

Impressive Expansion in Global Insights Segment

Global Insights revenue grew by 16% in Q2 2025, with TMX Trayport revenue up 26% in CAD and TMX VettaFi growing by 17% in CAD, driven by increased licensees and new acquisitions.

Strong Equity and Fixed Income Trading

Revenue from equities and fixed income trading increased 18%, supported by higher volumes in equity marketplaces and increased activity in Government of Canada bonds.

Dividend Increase

TMX Group's Board of Directors approved a 10% increase to the quarterly dividend to $0.22 per common share, maintaining a dividend payout ratio of 42% in Q2.

TMX Group (TSE:X) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:X Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 27, 2025	2025 (Q3)	0.49 / -	0.41	―	―	―
Jul 31, 2025	2025 (Q2)	0.51 / 0.52	0.43	20.93% (+0.09)	―
May 05, 2025	2025 (Q1)	0.49 / 0.48	0.38	26.32% (+0.10)	―
Feb 03, 2025	2024 (Q4)	0.44 / 0.48	0.37	29.73% (+0.11)	―
Oct 30, 2024	2024 (Q3)	0.39 / 0.41	0.35	17.14% (+0.06)	―
Jul 31, 2024	2024 (Q2)	0.42 / 0.43	0.38	13.16% (+0.05)	―
May 02, 2024	2024 (Q1)	0.38 / 0.38	0.37	2.70% (+0.01)	―
Feb 05, 2024	2023 (Q4)	0.37 / 0.37	0.348	6.32% (+0.02)	―
Oct 30, 2023	2023 (Q3)	0.35 / 0.35	0.336	4.17% (+0.01)	―
Jul 27, 2023	2023 (Q2)	0.35 / 0.38	0.376	1.06% (<+0.01)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:X Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	C$56.12	C$55.61	-0.91%
May 05, 2025	C$54.42	C$54.75	+0.60%
Feb 03, 2025	C$44.75	C$48.48	+8.33%
Oct 30, 2024	C$43.21	C$42.81	-0.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does TMX Group Ltd (TSE:X) report earnings?

TMX Group Ltd (TSE:X) is schdueled to report earning on Oct 27, 2025, TBA (Confirmed).

What is TMX Group Ltd (TSE:X) earnings time?

TMX Group Ltd (TSE:X) earnings time is at Oct 27, 2025, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:X EPS forecast?

TSE:X EPS forecast for the fiscal quarter 2025 (Q3) is 0.49.

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