Tradeweb Reports Fourth Quarter and Full Year 2022 Financial Results
QUARTERLY CASH DIVIDEND RAISED BY 12.5% to $0.09 PER SHARE
New York, February 2, 2023 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported financial results for the fourth quarter and full year ended December 31, 2022.
$293.0 million quarterly revenues increased 5.8% (9.3% on a constant currency basis) compared to prior year period
$1.1 trillion average daily volume (“ADV”) for the quarter, a decrease of 4.1% compared to prior year period; quarterly ADV records in fully electronic U.S. High Grade credit, U.S. credit Tradeweb AllTrade®, municipal bonds, retail U.S. government bonds, retail U.S. credit and retail money markets, U.S. institutional ETFs and sessions-based trading across global cash bonds. Tradeweb captured a record 14.4% share of fully electronic U.S. High Grade TRACE
$99.0 million net income for the quarter increased by 65.0% from prior year period primarily due to lower tax expense related to changes in our deferred tax assets and an increase in interest income. $116.9 million adjusted net income increased by 17.2% from prior year period 52.8% adjusted EBITDA margin or $154.7 million adjusted EBITDA for the quarter, compared to 50.6% or $140.1 million respectively in prior year period
$0.42 diluted earnings per share (“Diluted EPS”) for the quarter and $0.49 adjusted diluted earnings per share for the quarter
$0.09 per share quarterly cash dividend declared, a 12.5% per share increase from prior year; $34.0 million of shares repurchased in the fourth quarter
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