Tradeweb Markets, Inc. (TW) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 3, 2022 9:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to the Tradeweb Second Quarter 2022 Earnings Conference Call. As a reminder, today's call is being recorded and will be available for playback. To begin, I will turn the call over to Head of Treasury, FP&A and Investor Relations, Ashley Serrao. Please go ahead.

Ashley Serrao

Thank you, and good morning. Joining me today for the call are Chairman and CEO, Lee Olesky, who will review the highlights for the quarter and provide a business update. Our CEO Elect and President, Billy Hult, who will dive a little deeper into some growth initiatives; and our CFO, Sara Furber, who will review our financial results.

We intend to use the website as a means of disclosing material, non-public information and complying with disclosure obligations under SEC Regulation FD. I'd like to remind you that certain statements in this presentation and during the Q&A may relate to future events and expectations, and as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Statements related to, among other things, our guidance are forward-looking statements. Actual results may differ materially from these forward-looking statements. Information concerning factors that could cause actual results to differ from forward-looking statements is contained in our earnings release and periodic reports filed with the SEC.

In addition, on today's call, we will reference certain non-GAAP measures. Information regarding these non-GAAP measures, including reconciliations to GAAP measures in our posted earnings release and presentation.

To recap, this morning, we reported GAAP earnings with diluted share of $0.33. Excluding certain non-cash stock-based compensation expense, acquisition-related transaction costs, acquisition Refinitiv-related D&A and certain FX items and assuming an effective tax rate at 22%, we reported adjusted net income per diluted share of $0.47.

Please see the earnings release and the Form 10-Q to be filed with the SEC for additional information regarding the presentation of our historical results. Now let me turn the call over to Lee.

Lee Olesky

Thanks, Ashley. Good morning, everyone, and thank you for joining our second quarter earnings call. The frantic beginning to 2022 continued into the second quarter as growing recession fears increased investor uncertainty. And that's the backdrop of global rate hikes, surging inflation, supply chain issues and the continuation of a brutal war in Ukraine.