BANR FY 2022 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2022 Earnings

Reported February 21, 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	$643M	—	$631M	—	2.0%
Op. Income	$241M	—	$247M	—	-2.4%
Gross Margin	95.4%	—	101.6%	—	-6.2pp
Net Margin	30.4%	—	31.9%	—	-1.5pp
EPS (Diluted)	$5.67	—	$5.76	—	-1.6%
Free Cash Flow	$223M	—	$291M	—	-23.3%

Revenue Flow

Item	Amount
REVENUE	$643M
Cost of Revenue	$30M
GROSS PROFIT	$613M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$249M
SG&A Expenses	$253M
Other Expenses	$120M
Operating Expenses	$373M
Cost & Expenses	$402M
OPERATING INCOME	$241M
Interest Income	$573M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$241M
Income Tax Expense	$45M
Net Income from Continuing Ops	$195M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$195M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$195M
D&A	$22M
EBIT	$241M
EBITDA	$263M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$643M
Cost of Revenue	$30M
GROSS PROFIT	$613M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$249M
SG&A Expenses	$253M
Other Expenses	$120M
Operating Expenses	$373M
Cost & Expenses	$402M
OPERATING INCOME	$241M
Interest Income	$573M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$241M
Income Tax Expense	$45M
Net Income from Continuing Ops	$195M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$195M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$195M
D&A	$22M
EBIT	$241M
EBITDA	$263M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$195M
Depreciation & Amortization	$22M
Stock-Based Compensation	$9M
Deferred Income Tax	$16M
Other Non-Cash Items	$501.0K
Change in Working Capital	-$5M
OPERATING CASH FLOW	$238M
Capital Expenditure	-$15M
Acquisitions (Net)	-$168M
Purchases of Investments	-$851M
Sales/Maturities of Investments	$639M
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	-$81M
Common Stock Repurchased	-$11M
Common Dividends Paid	-$61M
Other Financing Activities	-$532M
NET CASH FROM FINANCING	-$685M
FREE CASH FLOW	$223M
Net Change in Cash	-$1.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$243M
Short-Term Investments	$2.8B
Net Receivables	$57M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$188M
Goodwill	$373M
Intangible Assets	$9M
Long-Term Investments	$11.2B
Tax Assets	$178M
Other Non-Current Assets	$816M
TOTAL NON-CURRENT ASSETS	$12.7B
TOTAL ASSETS	$15.8B
Account Payables	$0
Short-Term Debt	$233M
Deferred Revenue	$0
Other Current Liabilities	$13.6B
TOTAL CURRENT LIABILITIES	$14.1B
Long-Term Debt	$224M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$44M
TOTAL NON-CURRENT LIABILITIES	$323M
TOTAL LIABILITIES	$14.4B
Common Stock	$1.3B
Additional Paid-In Capital	$0
Retained Earnings	$525M
Treasury Stock	$0
Accum. Other Comp. Income	-$363M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$15.8B
Total Debt	$512M
Net Debt	$269M