BK Q1 2023 Earnings Report — The Bank of New York Mellon Corporation Revenue & Financial Results | Market Cap Arena

The Bank of New York Mellon CorporationBK

Q1 2023 Earnings

Reported May 5, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2023	Q4 2022	Q1 2022	QoQ Change	YoY Change
Revenue	$7.1B	$6.0B	$3.9B	19.6%	81.9%
Op. Income	$1.3B	$685M	$918M	88.0%	40.3%
Gross Margin	60.2%	63.8%	97.9%	-3.6pp	-37.7pp
Net Margin	13.7%	9.1%	19.7%	4.7pp	-5.9pp
EPS (Diluted)	$1.13	$0.62	$0.86	82.3%	31.4%
Free Cash Flow	$1.5B	$2.6B	$3.2B	-40.4%	-51.5%

Revenue Flow

Item	Amount
REVENUE	$7.1B
Cost of Revenue	$2.8B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.8B
SG&A Expenses	$1.8B
Other Expenses	$1.2B
Operating Expenses	$3.0B
Cost & Expenses	$5.9B
OPERATING INCOME	$1.3B
Interest Income	$3.9B
Interest Expense	$2.8B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$306M
Net Income from Continuing Ops	$982M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$982M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$911M
D&A	$351M
EBIT	$1.3B
EBITDA	$1.6B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$7.1B
Cost of Revenue	$2.8B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.8B
SG&A Expenses	$1.8B
Other Expenses	$1.2B
Operating Expenses	$3.0B
Cost & Expenses	$5.9B
OPERATING INCOME	$1.3B
Interest Income	$3.9B
Interest Expense	$2.8B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$306M
Net Income from Continuing Ops	$982M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$982M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$911M
D&A	$351M
EBIT	$1.3B
EBITDA	$1.6B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$976M
Depreciation & Amortization	$351M
Stock-Based Compensation	$0
Deferred Income Tax	$2M
Other Non-Cash Items	$27M
Change in Working Capital	$430M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$261M
Acquisitions (Net)	$0
Purchases of Investments	-$9.2B
Sales/Maturities of Investments	$14.6B
Other Investing Activities	-$22.9B
NET CASH FROM INVESTING	-$17.8B
Net Debt Issuance	$1.9B
Common Stock Repurchased	-$1.3B
Common Dividends Paid	-$304M
Other Financing Activities	$14.2B
NET CASH FROM FINANCING	$14.4B
FREE CASH FLOW	$1.5B
Net Change in Cash	-$1.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$133.3B
Short-Term Investments	$79.8B
Net Receivables	$8.1B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$223.8B
PP&E (Net)	$3.2B
Goodwill	$16.2B
Intangible Assets	$5.2B
Long-Term Investments	$160.9B
Tax Assets	$0
Other Non-Current Assets	$15.8B
TOTAL NON-CURRENT ASSETS	$201.3B
TOTAL ASSETS	$425.1B
Account Payables	$22.6B
Short-Term Debt	$26.5B
Deferred Revenue	$0
Other Current Liabilities	$284.3B
TOTAL CURRENT LIABILITIES	$333.4B
Long-Term Debt	$33.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$17.9B
TOTAL NON-CURRENT LIABILITIES	$50.9B
TOTAL LIABILITIES	$384.3B
Common Stock	$14M
Additional Paid-In Capital	$28.6B
Retained Earnings	$38.5B
Treasury Stock	-$25.8B
Accum. Other Comp. Income	-$5.5B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$40.6B
Minority Interest	$168M
TOTAL EQUITY	$40.8B
TOTAL LIABILITIES & EQUITY	$425.1B
Total Debt	$59.6B
Net Debt	-$73.7B