ABCB FY 2019 Earnings Report — Ameris Bancorp Revenue & Financial Results | Market Cap Arena

Ameris BancorpABCB

FY 2019 Earnings

Reported March 9, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$820M	—	$528M	—	55.3%
Op. Income	$212M	—	$151M	—	39.7%
Gross Margin	81.6%	—	83.6%	—	-2.0pp
Net Margin	19.7%	—	22.9%	—	-3.2pp
EPS (Diluted)	$2.75	—	$2.80	—	-1.8%
Free Cash Flow	-$952M	—	-$119M	—	-701.1%

Revenue Flow

Item	Amount
REVENUE	$820M
Cost of Revenue	$151M
GROSS PROFIT	$669M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$226M
SG&A Expenses	$234M
Other Expenses	$223M
Operating Expenses	$457M
Cost & Expenses	$608M
OPERATING INCOME	$212M
Interest Income	$636M
Interest Expense	$131M
Other Income/Expenses	$0
INCOME BEFORE TAX	$212M
Income Tax Expense	$50M
Net Income from Continuing Ops	$161M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$161M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$161M
D&A	$41M
EBIT	$212M
EBITDA	$253M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$820M
Cost of Revenue	$151M
GROSS PROFIT	$669M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$226M
SG&A Expenses	$234M
Other Expenses	$223M
Operating Expenses	$457M
Cost & Expenses	$608M
OPERATING INCOME	$212M
Interest Income	$636M
Interest Expense	$131M
Other Income/Expenses	$0
INCOME BEFORE TAX	$212M
Income Tax Expense	$50M
Net Income from Continuing Ops	$161M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$161M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$161M
D&A	$41M
EBIT	$212M
EBITDA	$253M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$161M
Depreciation & Amortization	$41M
Stock-Based Compensation	$3M
Deferred Income Tax	$23M
Other Non-Cash Items	-$1.2B
Change in Working Capital	$29M
OPERATING CASH FLOW	-$940M
Capital Expenditure	-$12M
Acquisitions (Net)	$244M
Purchases of Investments	-$264M
Sales/Maturities of Investments	$331M
Other Investing Activities	-$787M
NET CASH FROM INVESTING	-$487M
Net Debt Issuance	$1.1B
Common Stock Repurchased	-$18M
Common Dividends Paid	-$25M
Other Financing Activities	$317M
NET CASH FROM FINANCING	$1.4B
FREE CASH FLOW	-$952M
Net Change in Cash	-$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$598M
Short-Term Investments	$1.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$233M
Goodwill	$932M
Intangible Assets	$92M
Long-Term Investments	$14.5B
Tax Assets	$2M
Other Non-Current Assets	$479M
TOTAL NON-CURRENT ASSETS	$16.2B
TOTAL ASSETS	$18.2B
Account Payables	$0
Short-Term Debt	$21M
Deferred Revenue	$0
Other Current Liabilities	$14.0B
TOTAL CURRENT LIABILITIES	$14.0B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$199M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$15.8B
Common Stock	$72M
Additional Paid-In Capital	$1.9B
Retained Earnings	$508M
Treasury Stock	-$35M
Accum. Other Comp. Income	$18M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$18.2B
Total Debt	$1.5B
Net Debt	$949M