ABCB Q2 2022 Earnings Report — Ameris Bancorp Revenue & Financial Results | Market Cap Arena

Ameris BancorpABCB

Q2 2022 Earnings

Reported August 5, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2022	Q1 2022	Q2 2021	QoQ Change	YoY Change
Revenue	$276M	$262M	$257M	5.2%	7.2%
Op. Income	$118M	$109M	$115M	7.9%	2.5%
Gross Margin	90.5%	93.5%	95.3%	-3.0pp	-4.8pp
Net Margin	32.6%	31.1%	34.3%	1.5pp	-1.7pp
EPS (Diluted)	$1.30	$1.17	$1.27	11.1%	2.4%
Free Cash Flow	$349M	$357M	$369M	-2.3%	-5.5%

Revenue Flow

Item	Amount
REVENUE	$276M
Cost of Revenue	$26M
GROSS PROFIT	$250M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$82M
SG&A Expenses	$85M
Other Expenses	$47M
Operating Expenses	$132M
Cost & Expenses	$158M
OPERATING INCOME	$118M
Interest Income	$203M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$118M
Income Tax Expense	$28M
Net Income from Continuing Ops	$90M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$90M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$90M
D&A	$13M
EBIT	$118M
EBITDA	$131M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$276M
Cost of Revenue	$26M
GROSS PROFIT	$250M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$82M
SG&A Expenses	$85M
Other Expenses	$47M
Operating Expenses	$132M
Cost & Expenses	$158M
OPERATING INCOME	$118M
Interest Income	$203M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$118M
Income Tax Expense	$28M
Net Income from Continuing Ops	$90M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$90M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$90M
D&A	$13M
EBIT	$118M
EBITDA	$131M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$90M
Depreciation & Amortization	$13M
Stock-Based Compensation	$2M
Deferred Income Tax	$4M
Other Non-Cash Items	$255M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$353M
Capital Expenditure	-$5M
Acquisitions (Net)	-$766.0K
Purchases of Investments	-$619M
Sales/Maturities of Investments	$76M
Other Investing Activities	-$1.4B
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	-$36.0K
Common Stock Repurchased	-$5M
Common Dividends Paid	-$10M
Other Financing Activities	$96M
NET CASH FROM FINANCING	$81M
FREE CASH FLOW	$349M
Net Change in Cash	-$1.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$346M
Short-Term Investments	$1.1B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$224M
Goodwill	$1.0B
Intangible Assets	$116M
Long-Term Investments	$18.1B
Tax Assets	$0
Other Non-Current Assets	$2.8B
TOTAL NON-CURRENT ASSETS	$22.3B
TOTAL ASSETS	$23.7B
Account Payables	$0
Short-Term Debt	$953.0K
Deferred Revenue	$0
Other Current Liabilities	$19.7B
TOTAL CURRENT LIABILITIES	$19.7B
Long-Term Debt	$553M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$375M
TOTAL NON-CURRENT LIABILITIES	$928M
TOTAL LIABILITIES	$20.6B
Common Stock	$72M
Additional Paid-In Capital	$1.9B
Retained Earnings	$1.2B
Treasury Stock	-$75M
Accum. Other Comp. Income	-$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.1B
Minority Interest	$0
TOTAL EQUITY	$3.1B
TOTAL LIABILITIES & EQUITY	$23.7B
Total Debt	$554M
Net Debt	$208M