ABCB Q3 2022 Earnings Report — Ameris Bancorp Revenue & Financial Results | Market Cap Arena

Ameris BancorpABCB

Q3 2022 Earnings

Reported November 7, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2022	Q2 2022	Q3 2021	QoQ Change	YoY Change
Revenue	$290M	$276M	$242M	5.0%	19.9%
Op. Income	$121M	$118M	$111M	2.5%	9.4%
Gross Margin	86.6%	90.5%	99.3%	-4.0pp	-12.7pp
Net Margin	31.9%	32.6%	33.8%	-0.7pp	-1.8pp
EPS (Diluted)	$1.34	$1.30	$1.17	3.1%	14.5%
Free Cash Flow	$346M	$349M	-$170M	-0.9%	303.3%

Revenue Flow

Item	Amount
REVENUE	$290M
Cost of Revenue	$39M
GROSS PROFIT	$251M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$79M
SG&A Expenses	$82M
Other Expenses	$48M
Operating Expenses	$130M
Cost & Expenses	$169M
OPERATING INCOME	$121M
Interest Income	$234M
Interest Expense	$21M
Other Income/Expenses	$0
INCOME BEFORE TAX	$121M
Income Tax Expense	$29M
Net Income from Continuing Ops	$93M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$93M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$93M
D&A	$12M
EBIT	$121M
EBITDA	$133M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$290M
Cost of Revenue	$39M
GROSS PROFIT	$251M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$79M
SG&A Expenses	$82M
Other Expenses	$48M
Operating Expenses	$130M
Cost & Expenses	$169M
OPERATING INCOME	$121M
Interest Income	$234M
Interest Expense	$21M
Other Income/Expenses	$0
INCOME BEFORE TAX	$121M
Income Tax Expense	$29M
Net Income from Continuing Ops	$93M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$93M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$93M
D&A	$12M
EBIT	$121M
EBITDA	$133M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$93M
Depreciation & Amortization	$12M
Stock-Based Compensation	$2M
Deferred Income Tax	-$32M
Other Non-Cash Items	$251M
Change in Working Capital	$24M
OPERATING CASH FLOW	$349M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$311M
Sales/Maturities of Investments	$30M
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$300M
Common Stock Repurchased	-$139.0K
Common Dividends Paid	-$10M
Other Financing Activities	-$219M
NET CASH FROM FINANCING	$70M
FREE CASH FLOW	$346M
Net Change in Cash	-$976M

Balance Sheet

Item	Amount
Cash & Equivalents	$269M
Short-Term Investments	$1.3B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$223M
Goodwill	$1.0B
Intangible Assets	$111M
Long-Term Investments	$19.1B
Tax Assets	$0
Other Non-Current Assets	$1.8B
TOTAL NON-CURRENT ASSETS	$22.3B
TOTAL ASSETS	$23.8B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$19.5B
TOTAL CURRENT LIABILITIES	$19.5B
Long-Term Debt	$853M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$374M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$20.7B
Common Stock	$72M
Additional Paid-In Capital	$1.9B
Retained Earnings	$1.2B
Treasury Stock	-$75M
Accum. Other Comp. Income	-$51M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.1B
Minority Interest	$0
TOTAL EQUITY	$3.1B
TOTAL LIABILITIES & EQUITY	$23.8B
Total Debt	$853M
Net Debt	$584M