ABCB FY 2018 Earnings Report — Ameris Bancorp Revenue & Financial Results | Market Cap Arena

Ameris BancorpABCB

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$528M	—	$395M	—	33.5%
Op. Income	$151M	—	$124M	—	21.9%
Gross Margin	83.6%	—	89.2%	—	-5.6pp
Net Margin	22.9%	—	18.6%	—	4.3pp
EPS (Diluted)	$2.80	—	$1.98	—	41.4%
Free Cash Flow	-$119M	—	-$66M	—	-79.1%

Revenue Flow

Item	Amount
REVENUE	$528M
Cost of Revenue	$87M
GROSS PROFIT	$441M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$153M
SG&A Expenses	$158M
Other Expenses	$132M
Operating Expenses	$290M
Cost & Expenses	$376M
OPERATING INCOME	$151M
Interest Income	$413M
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$151M
Income Tax Expense	$30M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$121M
D&A	$20M
EBIT	$151M
EBITDA	$171M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$528M
Cost of Revenue	$87M
GROSS PROFIT	$441M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$153M
SG&A Expenses	$158M
Other Expenses	$132M
Operating Expenses	$290M
Cost & Expenses	$376M
OPERATING INCOME	$151M
Interest Income	$413M
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$151M
Income Tax Expense	$30M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$121M
D&A	$20M
EBIT	$151M
EBITDA	$171M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$121M
Depreciation & Amortization	$20M
Stock-Based Compensation	$6M
Deferred Income Tax	$1M
Other Non-Cash Items	-$245M
Change in Working Capital	-$12M
OPERATING CASH FLOW	-$109M
Capital Expenditure	-$10M
Acquisitions (Net)	$51M
Purchases of Investments	-$291M
Sales/Maturities of Investments	$255M
Other Investing Activities	-$59M
NET CASH FROM INVESTING	-$53M
Net Debt Issuance	-$314M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$16M
Other Financing Activities	$844M
NET CASH FROM FINANCING	$511M
FREE CASH FLOW	-$119M
Net Change in Cash	$349M

Balance Sheet

Item	Amount
Cash & Equivalents	$655M
Short-Term Investments	$1.2B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$145M
Goodwill	$503M
Intangible Assets	$59M
Long-Term Investments	$8.6B
Tax Assets	$35M
Other Non-Current Assets	$244M
TOTAL NON-CURRENT ASSETS	$9.6B
TOTAL ASSETS	$11.4B
Account Payables	$0
Short-Term Debt	$90M
Deferred Revenue	$0
Other Current Liabilities	$9.6B
TOTAL CURRENT LIABILITIES	$9.7B
Long-Term Debt	$171M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$77M
TOTAL NON-CURRENT LIABILITIES	$247M
TOTAL LIABILITIES	$10.0B
Common Stock	$49M
Additional Paid-In Capital	$1.1B
Retained Earnings	$377M
Treasury Stock	-$17M
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$11.4B
Total Debt	$261M
Net Debt	-$394M