BANR FY 2019 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2019 Earnings

Reported February 21, 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	$620M	—	$550M	—	12.6%
Op. Income	$183M	—	$165M	—	10.9%
Gross Margin	89.2%	—	92.5%	—	-3.3pp
Net Margin	23.6%	—	24.8%	—	-1.2pp
EPS (Diluted)	$4.18	—	$4.15	—	0.7%
Free Cash Flow	$125M	—	$8M	—	1526.2%

Revenue Flow

Item	Amount
REVENUE	$620M
Cost of Revenue	$67M
GROSS PROFIT	$553M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$229M
SG&A Expenses	$237M
Other Expenses	$133M
Operating Expenses	$370M
Cost & Expenses	$436M
OPERATING INCOME	$183M
Interest Income	$526M
Interest Expense	$57M
Other Income/Expenses	$0
INCOME BEFORE TAX	$183M
Income Tax Expense	$37M
Net Income from Continuing Ops	$146M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$146M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$146M
D&A	$25M
EBIT	$183M
EBITDA	$208M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$620M
Cost of Revenue	$67M
GROSS PROFIT	$553M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$229M
SG&A Expenses	$237M
Other Expenses	$133M
Operating Expenses	$370M
Cost & Expenses	$436M
OPERATING INCOME	$183M
Interest Income	$526M
Interest Expense	$57M
Other Income/Expenses	$0
INCOME BEFORE TAX	$183M
Income Tax Expense	$37M
Net Income from Continuing Ops	$146M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$146M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$146M
D&A	$25M
EBIT	$183M
EBITDA	$208M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$146M
Depreciation & Amortization	$25M
Stock-Based Compensation	$7M
Deferred Income Tax	$8M
Other Non-Cash Items	-$33M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$150M
Capital Expenditure	-$25M
Acquisitions (Net)	$27M
Purchases of Investments	-$332M
Sales/Maturities of Investments	$459M
Other Investing Activities	-$272M
NET CASH FROM INVESTING	-$143M
Net Debt Issuance	-$132M
Common Stock Repurchased	-$54M
Common Dividends Paid	-$56M
Other Financing Activities	$271M
NET CASH FROM FINANCING	$29M
FREE CASH FLOW	$125M
Net Change in Cash	$36M

Balance Sheet

Item	Amount
Cash & Equivalents	$308M
Short-Term Investments	$1.6B
Net Receivables	$38M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$178M
Goodwill	$373M
Intangible Assets	$29M
Long-Term Investments	$9.7B
Tax Assets	$60M
Other Non-Current Assets	$416M
TOTAL NON-CURRENT ASSETS	$10.7B
TOTAL ASSETS	$12.6B
Account Payables	$0
Short-Term Debt	$118M
Deferred Revenue	$0
Other Current Liabilities	$10.0B
TOTAL CURRENT LIABILITIES	$10.4B
Long-Term Debt	$569M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$46M
TOTAL NON-CURRENT LIABILITIES	$615M
TOTAL LIABILITIES	$11.0B
Common Stock	$1.4B
Additional Paid-In Capital	$0
Retained Earnings	$187M
Treasury Stock	$0
Accum. Other Comp. Income	$33M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$12.6B
Total Debt	$688M
Net Debt	$380M