BUSE FY 2023 Earnings Report — First Busey Corporation Revenue & Financial Results | Market Cap Arena

First Busey CorporationBUSE

FY 2023 Earnings

Reported February 22, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$601M	—	$487M	—	23.4%
Op. Income	$154M	—	$162M	—	-4.8%
Gross Margin	73.0%	—	91.5%	—	-18.6pp
Net Margin	20.4%	—	26.4%	—	-6.0pp
EPS (Diluted)	$2.18	—	$2.29	—	-4.8%
Free Cash Flow	$164M	—	$161M	—	1.9%

Revenue Flow

Item	Amount
REVENUE	$601M
Cost of Revenue	$162M
GROSS PROFIT	$438M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$168M
SG&A Expenses	$168M
Other Expenses	$116M
Operating Expenses	$284M
Cost & Expenses	$447M
OPERATING INCOME	$154M
Interest Income	$479M
Interest Expense	$160M
Other Income/Expenses	$0
INCOME BEFORE TAX	$154M
Income Tax Expense	$31M
Net Income from Continuing Ops	$123M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$123M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$123M
D&A	$23M
EBIT	$154M
EBITDA	$177M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$601M
Cost of Revenue	$162M
GROSS PROFIT	$438M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$168M
SG&A Expenses	$168M
Other Expenses	$116M
Operating Expenses	$284M
Cost & Expenses	$447M
OPERATING INCOME	$154M
Interest Income	$479M
Interest Expense	$160M
Other Income/Expenses	$0
INCOME BEFORE TAX	$154M
Income Tax Expense	$31M
Net Income from Continuing Ops	$123M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$123M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$123M
D&A	$23M
EBIT	$154M
EBITDA	$177M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$123M
Depreciation & Amortization	$23M
Stock-Based Compensation	$7M
Deferred Income Tax	$6M
Other Non-Cash Items	$24M
Change in Working Capital	-$9M
OPERATING CASH FLOW	$173M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$17M
Sales/Maturities of Investments	$492M
Other Investing Activities	$86M
NET CASH FROM INVESTING	$551M
Net Debt Issuance	-$351M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$53M
Other Financing Activities	$177M
NET CASH FROM FINANCING	-$232M
FREE CASH FLOW	$164M
Net Change in Cash	$492M

Balance Sheet

Item	Amount
Cash & Equivalents	$720M
Short-Term Investments	$2.1B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$134M
Goodwill	$318M
Intangible Assets	$36M
Long-Term Investments	$8.4B
Tax Assets	$0
Other Non-Current Assets	$545M
TOTAL NON-CURRENT ASSETS	$9.5B
TOTAL ASSETS	$12.3B
Account Payables	$0
Short-Term Debt	$199M
Deferred Revenue	$0
Other Current Liabilities	$10.3B
TOTAL CURRENT LIABILITIES	$10.5B
Long-Term Debt	$313M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$197M
TOTAL NON-CURRENT LIABILITIES	$521M
TOTAL LIABILITIES	$11.0B
Common Stock	$58.0K
Additional Paid-In Capital	$1.3B
Retained Earnings	$237M
Treasury Stock	-$70M
Accum. Other Comp. Income	-$219M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$12.3B
Total Debt	$524M
Net Debt	-$196M