CARE FY 2019 Earnings Report — Carter Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

Carter Bankshares, Inc.CARE

FY 2019 Earnings

Reported December 31, 2019

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	$168M	—	$158M	—	6.6%
Op. Income	$28M	—	$14M	—	94.2%
Gross Margin	70.2%	—	65.2%	—	5.0pp
Net Margin	15.8%	—	7.5%	—	8.2pp
EPS (Diluted)	$1.01	—	$0.45	—	124.4%
Free Cash Flow	$30M	—	$35M	—	-14.2%

Revenue Flow

Item	Amount
REVENUE	$168M
Cost of Revenue	$50M
GROSS PROFIT	$118M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$59M
SG&A Expenses	$60M
Other Expenses	$30M
Operating Expenses	$90M
Cost & Expenses	$141M
OPERATING INCOME	$28M
Interest Income	$159M
Interest Expense	$47M
Other Income/Expenses	$0
INCOME BEFORE TAX	$28M
Income Tax Expense	$1M
Net Income from Continuing Ops	$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$27M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$27M
D&A	$5M
EBIT	$28M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$168M
Cost of Revenue	$50M
GROSS PROFIT	$118M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$59M
SG&A Expenses	$60M
Other Expenses	$30M
Operating Expenses	$90M
Cost & Expenses	$141M
OPERATING INCOME	$28M
Interest Income	$159M
Interest Expense	$47M
Other Income/Expenses	$0
INCOME BEFORE TAX	$28M
Income Tax Expense	$1M
Net Income from Continuing Ops	$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$27M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$27M
D&A	$5M
EBIT	$28M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$27M
Depreciation & Amortization	$5M
Stock-Based Compensation	$381.0K
Deferred Income Tax	$2M
Other Non-Cash Items	-$7M
Change in Working Capital	$11M
OPERATING CASH FLOW	$38M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$534M
Sales/Maturities of Investments	$589M
Other Investing Activities	-$175M
NET CASH FROM INVESTING	-$129M
Net Debt Issuance	$10M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$87M
NET CASH FROM FINANCING	-$77M
FREE CASH FLOW	$30M
Net Change in Cash	-$168M

Balance Sheet

Item	Amount
Cash & Equivalents	$126M
Short-Term Investments	$743M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$868M
PP&E (Net)	$86M
Goodwill	$62M
Intangible Assets	$0
Long-Term Investments	$2.9B
Tax Assets	$0
Other Non-Current Assets	$124M
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$4.0B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.5B
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$10M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$19M
TOTAL NON-CURRENT LIABILITIES	$29M
TOTAL LIABILITIES	$3.5B
Common Stock	$26M
Additional Paid-In Capital	$142M
Retained Earnings	$304M
Treasury Stock	$0
Accum. Other Comp. Income	$127.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$473M
Minority Interest	$0
TOTAL EQUITY	$473M
TOTAL LIABILITIES & EQUITY	$4.0B
Total Debt	$10M
Net Debt	-$116M