AUB FY 2022 Earnings Report — Atlantic Union Bankshares Corporation Revenue & Financial Results | Market Cap Arena

Atlantic Union Bankshares CorporationAUB

FY 2022 Earnings

Reported February 23, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$779M	—	$711M	—	9.5%
Op. Income	$280M	—	$319M	—	-12.2%
Gross Margin	87.8%	—	102.8%	—	-15.0pp
Net Margin	30.1%	—	37.1%	—	-7.0pp
EPS (Diluted)	$2.97	—	$3.26	—	-8.9%
Free Cash Flow	$417M	—	$328M	—	26.9%

Revenue Flow

Item	Amount
REVENUE	$779M
Cost of Revenue	$95M
GROSS PROFIT	$684M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$239M
SG&A Expenses	$248M
Other Expenses	$155M
Operating Expenses	$404M
Cost & Expenses	$499M
OPERATING INCOME	$280M
Interest Income	$660M
Interest Expense	$76M
Other Income/Expenses	$0
INCOME BEFORE TAX	$280M
Income Tax Expense	$45M
Net Income from Continuing Ops	$235M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$235M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$223M
D&A	$45M
EBIT	$280M
EBITDA	$325M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$779M
Cost of Revenue	$95M
GROSS PROFIT	$684M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$239M
SG&A Expenses	$248M
Other Expenses	$155M
Operating Expenses	$404M
Cost & Expenses	$499M
OPERATING INCOME	$280M
Interest Income	$660M
Interest Expense	$76M
Other Income/Expenses	$0
INCOME BEFORE TAX	$280M
Income Tax Expense	$45M
Net Income from Continuing Ops	$235M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$235M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$223M
D&A	$45M
EBIT	$280M
EBITDA	$325M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$235M
Depreciation & Amortization	$45M
Stock-Based Compensation	$11M
Deferred Income Tax	$25M
Other Non-Cash Items	$8M
Change in Working Capital	$96M
OPERATING CASH FLOW	$420M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$454M
Sales/Maturities of Investments	$406M
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$1.2B
Common Stock Repurchased	-$48M
Common Dividends Paid	-$87M
Other Financing Activities	-$683M
NET CASH FROM FINANCING	$375M
FREE CASH FLOW	$417M
Net Change in Cash	-$483M

Balance Sheet

Item	Amount
Cash & Equivalents	$318M
Short-Term Investments	$2.7B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$118M
Goodwill	$925M
Intangible Assets	$27M
Long-Term Investments	$15.2B
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$17.4B
TOTAL ASSETS	$20.5B
Account Payables	$0
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$15.9B
TOTAL CURRENT LIABILITIES	$17.3B
Long-Term Debt	$390M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$448M
TOTAL NON-CURRENT LIABILITIES	$838M
TOTAL LIABILITIES	$18.1B
Common Stock	$99M
Additional Paid-In Capital	$1.8B
Retained Earnings	$920M
Treasury Stock	$0
Accum. Other Comp. Income	-$418M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$0
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$20.5B
Total Debt	$1.7B
Net Debt	$1.4B