BHRB FY 2022 Earnings Report — Burke & Herbert Financial Services Corp. Revenue & Financial Results | Market Cap Arena

Burke & Herbert Financial Services Corp.BHRB

FY 2022 Earnings

Reported December 31, 2022

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	$127M	—	$119M	—	7.0%
Op. Income	$52M	—	$40M	—	29.3%
Gross Margin	98.8%	—	97.3%	—	1.5pp
Net Margin	34.5%	—	30.4%	—	4.2pp
EPS (Diluted)	$5.89	—	$4.52	—	30.3%
Free Cash Flow	$38M	—	$54M	—	-29.5%

Revenue Flow

Item	Amount
REVENUE	$127M
Cost of Revenue	$1M
GROSS PROFIT	$126M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$50M
SG&A Expenses	$51M
Other Expenses	$22M
Operating Expenses	$74M
Cost & Expenses	$75M
OPERATING INCOME	$52M
Interest Income	$113M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$52M
Income Tax Expense	$8M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$3M
EBIT	$52M
EBITDA	$56M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$127M
Cost of Revenue	$1M
GROSS PROFIT	$126M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$50M
SG&A Expenses	$51M
Other Expenses	$22M
Operating Expenses	$74M
Cost & Expenses	$75M
OPERATING INCOME	$52M
Interest Income	$113M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$52M
Income Tax Expense	$8M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$3M
EBIT	$52M
EBITDA	$56M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$44M
Depreciation & Amortization	$3M
Stock-Based Compensation	$2M
Deferred Income Tax	$8M
Other Non-Cash Items	$214.0K
Change in Working Capital	$4M
OPERATING CASH FLOW	$61M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	-$368M
Sales/Maturities of Investments	$410M
Other Investing Activities	-$146M
NET CASH FROM INVESTING	-$127M
Net Debt Issuance	$68M
Common Stock Repurchased	$0
Common Dividends Paid	-$16M
Other Financing Activities	-$13M
NET CASH FROM FINANCING	$39M
FREE CASH FLOW	$38M
Net Change in Cash	-$27M

Balance Sheet

Item	Amount
Cash & Equivalents	$50M
Short-Term Investments	$1.4B
Net Receivables	$15M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$53M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$1.9B
Tax Assets	$0
Other Non-Current Assets	$206M
TOTAL NON-CURRENT ASSETS	$2.1B
TOTAL ASSETS	$3.6B
Account Payables	$26M
Short-Term Debt	$343M
Deferred Revenue	$0
Other Current Liabilities	$2.9B
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$343M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$343M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$3.3B
Common Stock	$4M
Additional Paid-In Capital	$12M
Retained Earnings	$424M
Treasury Stock	-$28M
Accum. Other Comp. Income	-$139M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$273M
Minority Interest	$0
TOTAL EQUITY	$273M
TOTAL LIABILITIES & EQUITY	$3.6B
Total Debt	$686M
Net Debt	$636M